OmiseGo (OMG) Price Recovers, Supported by Bank of Thailand

OmiseGo (OMG) Price Recovers, Supported by Bank of Thailand

OmiseGo (OMG) has long been seen as a sleeping opportunity, waiting for another altcoin bull run.

OmiseGo (OMG), a blockchain project with a clear plan to bring fintech solutions to the Asia Pacific region, has received a tentative endorsement by the Bank of Thailand.

In the recent bout of recovery, the OMG market price climbed to $12.13, growing by more than 10% in the past 24 hours, but still lower on a weekly basis. The OMG price reached a recent low after the sell-off, falling to $9, far from the $25 peak reached toward the end of last year and in January.

Compared to other projects, OMG had a relatively tame price appreciation. Starting at $0.52 after the ICO, the coin usually hovers around $10-$12. But some see the asset appreciating much more, as far as $50, on continued development and news of partnerships. So far, however, most OMG developments are happening behind the scenes.

For now, the rising popularity of the OmiseGo project has had its negative sides, as the brand has attracted scammers.

For now, the OmiseGo project plans its expansion, with a recent mention that the OmiseGo network could one day connect to the Ripple payment system, or even the current SWIFT interbank network.

The information on the quality of the OMG digital asset is conflicting. On the one hand, the coin is relatively liquid, and the project is the only ICO actively promoted by Vitalik Buterin.

At the same time, the OMG project has received a "Poor" grade, or 37/100 from the Rency.com ratings service. However, the profile seems to be incomplete, and OMG may change its qualities as the technological solutions are completed.

The OmiseGo project will still have to move to the next stage and include staking and network rewards, which would increase its popularity. Projects like NEO and VeChain have gained support and achieved large-scale coin lockdown on account of their staking and node programs.

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