OmiseGo (OMG) Price Jumps on Coinbase Pro Listing Announcement


Coinbase Pro, the professional trading platform designed for seasoned crypto investors, announced on Thursday that it plans to add OmiseGO (OMG), sending the altcoin up around 30%.

According to the announcement, Coinbase Pro will be listing OMG with USD and BTC pairs on May 18. Coinbase notes that EUR and GBP order books may be added as early as Monday, as well.

“[OMG] is an Ethereum token that powers the OmiseGo smart contract platform, which allows for businesses and individuals more financial freedom through financial services and investments,” added Coinbase in the announcement. “The platform’s goal is to facilitate moving funds between payment systems (such as ACH, Visa, or PayPal) and decentralized blockchains like Ethereum. This allows for better banking and financial services for everyone, including people in developing countries who don’t have access to traditional banking services.”

Coinbase notes that OMG will be immediately available in all supported jurisdictions, with the exception of New York state and the United Kingdom. The altcoin will also likely be added to in the next few weeks, based on past listings.

OmiseGO was one of the darlings of the 2017 altcoin boom, with a market cap that eclipsed $1 billion at one point, but it has since fallen to $136 million. The altcoin is now up roughly 75% in the past month as it recovers from the crypto market’s March selloff.

More: OmiseGO (OMG) Is launching on Coinbase Pro

Disclaimer: This article’s author has cryptocurrency holdings that can be tracked here. This article is for informational purposes only and should not be taken as investment advice. Always conduct your own due diligence before making investments.

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