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Reasons To Be Bullish On OmiseGO (OMG) This Year

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OmiseGO

With the introduction of multifarious new digital currencies to the world of cryptocurrency, the competition among these coins to achieve a commendable position on the Coinmarketcap along with a significant individual coin value and market capitalization has increased considerably. Although major cryptocurrencies like Bitcoin, Ethereum, etc, are still leading the market, the recent downfall in their prices accompanied by overall market turmoil has created slight hesitation among several cryptocurrency traders residing around the world. As an immediate consequence of such phenomena, many new investors along with a few experienced traders are investing their money in lesser-known cryptocurrencies.

One of such cryptocurrencies is OmiseGO (OMG). Although it still hasn’t achieved the popularity it deserves, OmiseGO (OMG) holds a decent position on the Coinmarketcap (20th in terms of market capitalization and 6th among ERC20 Cryptocurrency Tokens). Here, a few reasons would be discussed for your convenience explaining why you should go bullish on this particular cryptocurrency this year.

Reasons to Go Bullish on OmiseGO:

To traders and investors across the globe, the term “bullish” refers to a particular upward trend that indicates that the price of a certain asset or cryptocurrency is more likely to move up. Depending on the slopes and edges of a bullish trend chart, experienced traders can predict how sharp the movement of price is going to be. In case of OmiseGO, there are several reasons why this cryptocurrency can move upward in 2018. They are:

  1. Convenient Service: OMG’s internal architecture is very elegant and efficient. The coin initially made its way to the crypto-market to offer a feasible solution to the coordination problems among the financial institutions, payment processors, and financial gateways. As a result, OmiseGO’s platform can take care of a vast range of financial transactions payments, remittances, loyalty programs, B2B commerce, asset management, trading, and many more. The blockchain of this cryptocurrency is a highly scalable, on-chain decentralized exchange that offers an incentive for big holders to gain more coins by securing the network.
  2. Imminent Plasma Network Release: OmiseGO is about to launch their own plasma network which has caught a lot of attention from the crypto-connoisseurs. Many experienced traders are speculating the year of 2018 to be a year of OmiseGO because of this network. Once this network releases, OmiseGO would be able to conduct nearly an unlimited amount of transfers per second. As per the recent calculation, OmiseGO would be able to conduct more than 1 million transfers per second which are significantly higher than non-crypto transaction systems like Visa (24,000 transfers per second). The implementation of plasma network is one of the major reasons to bullish on this coin.
  3. The Support form Stripe: Stripe is indubitably one of the most reputed organizations of the world on cloud computing at the moment. As a result, it is quite evident that why every cryptocurrency seeks the support of this multi-billion dollar organization. Stripe was among the first few companies to implement support for Bitcoin in 2014. Now, Stripe is turning its face from Bitcoin to other cryptocurrencies like OmiseGO, Stellar Lumens, etc. With Stripe’s support, OMG is likely to exhibit major upsurge in this year.
  4. Transformation to PoS: OmiseGO is going to become a PoS (Proof of Stake) cryptocurrency from its previous Proof of Work (PoW) state. This transformation would allow the OMG holders to receive a passive return from network confirmation by staking their tokens. As a result, investing in this digital currency would likely to become a lot more lucrative than it previously was.

Current Market Scenario and Speculation:

As per the data of 12th March 2018, OmiseGO holds the 20th position on Coinmarketcap with a total market capitalization of nearly 1.5 billion along with an individual value of 14.32 USD.

Despite the fact that every coin can be affected by the constant volatility of the cryptocurrency market, it can be said that with the support from powerful organizations and implementation of new facilities are likely to make a positive impact on OmiseGO. On that note, going bullish on this cryptocurrency seems to be a lucrative choice for both novice and experienced traders.

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

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. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.

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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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