OmiseGO (OMG) Rally Continues Following Full Coinbase Listing
Following the listing, the price of OMG surged 20% before settling at $1.91 — hitting a high of $2.23.
OmiseGO is now up nearly 150% since the initial Coinbase Pro listing announcement on May 14. This is the latest indication that Coinbase listings are again providing altcoins with a notable price boost, as Kyber Network (KNC) and Cosmos (ATOM) have both performed well since their own listings earlier this year.
“[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.”
As with previous listings, OMG is not yet available to investors in New York and the timeline for approval is currently unknown.
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.