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OmiseGo (OMG): Picking Up Where It Left Off

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OmiseGo

The Crypto-space was buzzing with movements this month, with almost all tokens feeling the effects of a “bullish” breakout earlier this week. Indeed, it is an encouraging time for crypto projects around the world, as major investors like the Soros Fund, the Rothschild, and Rockefeller families hop into the “crypto-bandwagon”. With Bitcoin more or less maintaining the $8000 mark, things look positive for the Cryptocurrency market on the whole, especially for second-tier cryptocurrency OmiseGo (OMG).

OmiseGo which is a Cryptocurrency from Bangkok based Omise has experienced considerable success since the closure of their $ 25 million ICO last year. At the time of writing, OmiseGo is placed at 19th place, with an impressive market cap of $ $1,506,964,404 USD. It is currently valued at $14.77 USD as of 18/04/18 and is on a steady upward climb.

However, things weren’t so positive at the beginning of the month, with OmiseGo’s price dropping to a shocking new low of $ 7.52 on April 2nd. Much of this can be attributed to the overall slump the Cryptocurrency market has was experiencing at that point, with more or less every Cryptocurrency getting affected negatively. However, things are on a sharp rise ever since, with positive market sentiments forming as a result of the latest development updates from the OmiseGo team.

What has OmiseGo been up to this month?

The month of April was hugely successful for the OmiseGo team, both in terms of market valuation and technological viability. As a result, OmiseGo’s price surged up by a considerable degree and has not dropped ever since. Two Important events are behind OmiseGo’s success, which is discussed in brief below.

  1. Tie-Ups with South Korea’s Top Banks: Following a similar path to that of Ripple and EOS, the OmiseGo team announced on April 6th that they have secured deals with Shinhan and Woori, two of the largest commercial banks operating in South Korea. This indeed marks a breakthrough for the Cryptocurrency industry, after the failed attempt at securing a deal with Kookmin, one of the largest banks in the region. Since the announcement, both banks are working on developing a series of blockchain and Cryptocurrency based initiatives With OmiseGo.

The Signing of the memorandum of Understanding (MoU) with both the banks will open the doors for blockchain utilization in the banking industry. For instance, the credit card department of Shinhan Bank has announced plans of implementing blockchain technology using OmiseGo. Omise is also developing the Shinhan FAN card which will essentially use the OmiseGo blockchain for overseas merchants.

  1. OmiseGo and APEC: On April 17th, the CEO of OMiseGO announced that it was working on projects with the Asia Pacific Economic Committee for developing blockchain based payment and financial services. Being involved with a multinational organization like APEC would have a positive impact on OmiseGo’s viability as well as value. Following this announcement, Ethereum founder Vitalik Buterin was appointed as an advisor to the OmiseGo board, strengthening the technological potential of the whole project. This can be evidenced by their Proof of Stake algorithm, which was a valuable contribution from Vitalik.

Final Thoughts:

Out of the majority of the top 20 coins, very few have experienced an appreciation in value like OmiseGo. In fact, following the South Korean Bank Deal announcements, positive investor sentiment pushed up its value from$ 8.88 (open) on 6th April to $9.23 in the span of 24 hours. In fact, OmiseGo’s performance has been climbing steadily since then, reaching a high of $13.96, $14.36, $15.59 and 15.69 respectively in the past 4 days. Thus analysts agree that the upward trend of OmiseGo can continue well into the second quarter of 2018. Positive news involving OmiseGo will further fuel its popularity, as more and more companies look to integrate its technology.

We will be updating our subscribers as soon as we know more. For the latest on OMG, sign up for our Telegram!

Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

Image courtesy of Giuseppe Milo via Flickr

Altcoins

My Crypto Heroes Announces Issuance of MCH Governance Token

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Tokyo, Japan, 24th November, 2020, // ChainWire //

My Crypto Heroes is happy to announce the issuance of MCH Coin as an incentive to players in the My Crypto Heroes ecosystem, aiming to allow them to craft a “User-oriented world”. The MCH coin is available on Uniswap with a newly created pool with ETH. 

My Crypto Heroes is a blockchain-based game for PC and Mobile. It allows users to collect historic heroes and raise them for battle in a Crypto World. Officially released on November 30th, 2018, MCH has recorded the most transactions and daily active users than any other blockchain game in the world.

What is MCH Coin?

MCH Coin is being issued as an ERC-20 Standard Governance Token. The issuance began on November 9th, 2020, with 50 million tokens issued.

Of the funds issued, 40% are allocated to a pay for on-going development and as rewards for advisors and early investors. 10% are allocated to marketing and the growth of the ecosystem, and 50% are allocated to the community. The Distribution Ratio of the MCH Coin is subject to change via a governance decision.

The MCH coin will be used as a voting right as part of the ecosystem’s governance, with 1 coin being 1 vote. It will also be used for in-game utilities and payments. Additional information can be found here:

https://medium.com/mycryptoheroes/new-ecosystem-with-mchcoin-en-a6a82494894f

During December 2020 the first governance…

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Altcoins

Rewards Platform StormX Offers 50% Crypto Cashback Bonus for Thanksgiving

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Singapore, Singapore, 23rd November, 2020, // ChainWire //

Blockchain-based rewards platform StormX has released a seasonal promotion for its award-winning Crypto Cash Back App. The promotion will allow app users to earn a 50% bonus on top of their cashback between Thanksgiving Day and Cyber Monday (November 26-30).

StormX has also introduced a brand-new staking service, allowing users to earn an additional 50% per year when they stake STMX tokens. The native ERC20 token of the StormX ecosystem, STMX has a total supply of 10 billion and is available to trade at many of the world’s top exchanges, including Binance and Bittrex.

“With Bitcoin’s price approaching its all-time high, interest in cryptocurrencies has renewed, though some people believe it’s now too expensive to buy in,” said StormX CEO and Co-Founder Simon Yu. “What we have done is create an easy way for such individuals to accumulate bitcoin, ethereum and other cryptocurrencies via everyday shopping.

“We’re also excited to provide users with the ability to earn greater rewards simply by staking their tokens.”

Since the StormX mobile app launched its Shop feature with over 700 stores in February 2020, some 400,000 unique users have been added to the rewards platform. StormX has also witnessed over 50% month-on-month growth for sales. The app is available for download on the App and Google Play Stores, and can be downloaded as a browser add-on from the Chrome Web…

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Altcoins

BITTREX GLOBAL CONFIRMS FREE TRADING AND LISTING FOR TOP DEFI TOKEN

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Valduz, Liechtenstein, 17th November, 2020, // ChainWire //

International cryptocurrency exchange promotes free trading and no gas fees for leading DeFi tokens

17th November 2020 — Bittrex Global GmbH. announced today 8 new DeFi tokens will be listed this week including:

  • UMA (UMA)
  • Aave (AAVE)
  • Balancer (BAL)
  • REN (REN & renBTC)
  • Kyber Network (KNC)
  • Band Protocol (BAND)
  • YF Link – (YFL)

Bittrex Global’s users can trade all of their DeFi  tokens with no trading or gas fees until 2021. The decision to enable free trading on Bittrex Global for DeFi tokens  follows on from the 1,000% growth of the DeFi asset class over the course of 2020.

The decision to enable free transactions will see more investors enter the Blockchain Act’s digital asset regulatory system, supervised by the Financial Market Authority in Liechtenstein (FMA) under the Due Diligence Act which requires traders to comply with the KYC/AML/CFT standards.

“The last year has seen huge growth in DeFi as an asset class and a number of significant milestones completed,” said Bittrex Global’s CEO Tom Albright. “As the asset class matures and more institutional and professional investors look at the fundamentals, we are likely to see increased demand and higher trading volumes for DeFi in 2021.

We’re really excited about what we’re seeing in the space and want to see these DeFi projects grow and help them build stronger platforms through increased adoption. Offering free trading fees…

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