OmiseGo Price Surges as Other Markets Suffer From Medium Losses
Things are not looking all that great for most cryptocurrency markets as of right now. We have seen a major decline in value overnight, even though no one knows what the exact reason is. Some currencies successfully buck this negative trend. The OmiseGo price is an interesting example in this regard, as its value is up to by 7.64%.
OmiseGO Price Surges in Surprising Fashion
With so many top cryptocurrency markets in the red over the past 24 hours, it is only normal most altcoins struggle to gain any real traction as of right now. Thankfully, there are always some exceptions to take into account. The OmiseGO price is a clear example of how there can be a positive trend despite most markets suffering from small to medium losses as of right now. Unlike those markets, the OmiseGO price is actually going up in value, which is pretty impressive.
To put this into perspective, the OmsieGO price has risen to $19.33 once again. This is a clear 7.64% increase over the past 24 hours, which comes as a big surprise considering how both Bitcoin and Ethereum are not looking all that great as of right now. Even so, the OmsieGO price managed to score a nice USD gain, mainly thanks to its increase in value over both Bitcoin and Ethereum alike. It is pertinent for altcoins to successfully decouple themselves from these two main trading markets as soon as possible.
More specifically, the OMG value against Bitcoin has improved by 9.27% over the past 24 hours. At the same time, the OMG/ETH improved by 12.7% in the same time period. It remains unclear why Ethereum is struggling so much as of right now, a sit seemingly can’t rise in value properly, yet suffers from major losses when Bitcoin dips even in the slightest. A very unusual correlation, even though it remains to be seen what the future holds in this regard.
With $141.38m in 24-hour trading volume, things are looking pretty solid for OmiseGO as of right now. Even though this volume is not all that impressive when looking at the top markets, it’s still higher than what most altcoins can generate under the current conditions. It is the sort of trading volume one would expect to see from an altcoin which is on the verge of entering the top 20 ranked by market cap.
Surprisingly, most of the OmiseGO trading volume originates from Bitfinex’s OMG/USD trading pair. That pair’s volume is only slightly ahead of Upbit’s OMG/KRW market. Binance comes in third place with their OMG/BTC market, which is what most people would effectively expect at this time. With two fiat currency pairs in the top three, things are certainly looking rather interesting for OMG holders and speculators.
For now, it remains to be seen what comes next for the OmiseGO price. With a push as strong as this one, reaching $20 should only be a matter of time. We will not see an all-time high OmiseGO price this time around, though, but this recent push from $8 all the way to $19.33 is pretty impressive, to say the very least.
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