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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

XNO Token of Xeno NFT Hub listed on Bithumb Korea Exchange

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Hong Kong, Hong Kong, 25th January, 2021, // ChainWire //

Xeno Holdings Limited (xno.live ), a blockchain solutions company based in Hong Kong, has announced the listing of its ecosystem utility token XNO on the ‘Bithumb Korea’ cryptocurrency exchange on January 21st 2021.

Xeno NFT Hub (market.xno.live ), developed by Xeno Holdings, enables easy minting of digital items into NFTs while also providing a marketplace where anyone can securely trade NFTs.

The Xeno NFT Hub project team includes former members of the technology project Yosemite X based in San Francisco and professionals such as Gabby Dizon who is a games industry expert and NFT space influencer based in Southeast Asia.

NFT(Non-Fungible Token) technology has recently gained huge focus in the blockchain arena and beyond, making waves in the online gaming sector, the art world, and the digital copyrights industry in recent years. The strongest feature of NFTs is that “NFTs are unique digital assets that cannot be replaced or forged”. Unlike fungible tokens such as Bitcoin or Ether, NFTs are not interchangeable for other tokens of the same type but instead each NFT has a unique value and specific information that cannot be replaced. This fact makes NFTs the perfect solution to record and prove ownership of digital and real-world items like works of art, game items, limited-edition collectibles, and more.

NFTs are already being actively traded in markets globally. For…

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Altcoins

Should Crypto Projects Devote Resources to Community Growth and Marketing?

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2020 has been an incredible year for crypto as investors have generated windfall profits and crypto projects have seen their businesses gain the spotlight they’ve been looking for.  While Bitcoin has received most of the attention after major institutional investors announced they were accumulating the increasingly scarce asset, many altcoins have also seen their fair share of glory.  When looking at all the big winners of the past year, the first project that probably comes to mind is Chainlink, having appreciated by more than 550% YTD and now valued at over $4.5 billion.  But, the actual biggest winner of the year is HEX with a YTD return of over 5,000%.

I mention both of the above projects as they have each taken slightly different paths to achieve greatness.  Chainlink has devoted resources toward building a fundamentally sound business with many strategic partnerships while HEX has spent vast sums of money on marketing and promotion.  Both approaches are valid, but one thing is certain, it is absolutely imperative for crypto projects to let the crypto community know what makes them special.  Of course, one of the reasons that makes crypto so valuable is the powerful blockchain technology that most projects are utilizing.

Cryptocurrency vs. Blockchain Technology

It’s important to make a distinction between blockchain technology and cryptocurrency.  Although they are often used interchangeably, they are different.  Blockchain technology and crypto were both created after the 2008 financial crisis, but cryptocurrency…

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Altcoins

XENO starts VIP NFT trading service and collaborates with contemporary artist Hiro Yamagata

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Hong Kong, Hong Kong, 24th December, 2020, // ChainWire //

The XENO NFT Hub (https://xno.live) will provide a crypto-powered digital items and collectables trading platform allowing users to create, buy, and sell NFTs. Additionally it will support auction based listings, governance and voting mechanisms, trade history tracking, user rating and other advanced features.

As a first step towards its fully comprehensive service, XENO NFT Hub launched a recent VIP service to select users and early adopters in December 2020 with plans for a full Public Beta to open in June 2021. 

“NFTs are extremely flexible in their usage, from digital event tickets to artwork, and while NFTs have a very wide spectrum of uses and categories XENO will initially focus its partnership efforts and its own item curation on three primary areas: gaming, sports & entertainment, and collectibles.”, said XENO NFT Hub president Anthony Di Franco.

He also added “This does not mean we will prohibit other types of NFTs from our ecosystem However, it simply means that XENO’s efforts as a company will be targeted into these verticals initially as a cohesive business approach.”

Development and Procurement Lead, Gabby Dizon explained, “Despite our initial focus, we found ourselves with a unique opportunity to host some of the works of Mr. Hiro Yamagata. We are collaborating with Japanese artist Hiro Yamagata to enshrine some of his artwork into NFTs.”

Mr. Yamagata has been…

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