Cryptocurrencies have seen immense growth in the ongoing year, one of the unique projects intended to resolve the glitches related to payment processors and financial institutions is being OMG network.
There are numerous cryptocurrencies that surged to claim new ATH with a terrific bull rally. In contrast, few crypto projects faced a steep fall. As the market is highly volatile, it is mandatory to have a thorough knowledge of the asset before jumping into an investment!
OMG network has seen so many ups and downs over the past three years! If you are eager to invest in this protocol, then don’t dwell on widespread speculations. This OMG Price Prediction article will thoroughly guide you about altcoin’s brief fundamental analysis, short-term and long-term price predictions.
|Circulating Supply.||140,245,398.25 OMG|
|All-time high.||$25.72 on 13th January 2018.|
|All-time low.||$0.4653, 12th December 2020.|
What is the OMG Network (OMG)?
OMG network built on ERC-20 token in order to facilitate a Layer-2 scaling solution for Ethereum. The non-custodial protocol was previously named as OmiseGo. The core goal of the platform is to affirm a high-transaction throughput at a reliable price. The network has its own native utility token called OMG The token can be used as a payment solution for fees on its platform and users could use the token to earn rewards by staking.
However, the network makes use of a distinct scaling solution called MoreViable Plasma, which is integrated with the plasma sidechain method of architecture. Which categorizes several transactions off-chain into a pack that can then be confirmed as one transaction on the Ethereum blockchain.
While the OMG network has been deployed to boost the Ethereum ecosystem by resolving the glitches related to transaction speed and fees. Moreover, the sidechain solution would help in bringing down electricity usage by almost 99%.
Fundamental Analysis of the OMG Network:
The OMG Network has been founded by Vansa Chatikavanij in 2017. The tech firm is based out in Thailand, previously recognized as Omise Holdings. Prior to becoming CEO of the network, the founder has completed his master’s graduation from Columbia University in earth and environmental sciences in New york. He has previously accumulated knowledge in working with financial institutions such as the World Bank and International Finance Corporation (IFC).
Meanwhile, the founder worked as managing director at the company until 2019. The present COO of the network is Stephen McNamara, who served at Huawei technologies as a former head of Blockchain R&D strategy. Whereas Kasima Tharnpipitchai is working as a CTO of the OMG network.
OMG network released the Proof-of-Concept consensus mechanism in January 2018, which is built as an early version of its Plasma-based sidechain. Alpha launch of the OMG platform in 2019 called Ari ensured the more tech-savvy iteration of the protocol in contrast to its Minimum Viable Plasma predecessor. Furthermore, the OMG network launched a test net version of its platform on a Ropsten environment in March 2020. However, in the same month, the network released its mainnet version OMG Network V.01.
OMG Price Prediction 2021
The price has started moving in an upward trajectory from early January. The OMG price went on to claim a series of higher lows for three consecutive months. Initially, the price climbed to $6.5 by surging more than 100% in January. Later with a short breather, it broke a crucial resistance of $9.6 reaching $14 by mid-May.
Later, the price action was hit hard by the Chinese market crash on May 19th. Where the price has declined by more than 200% reaching bottom support of $3.17 on 20th July.
OMG Price Prediction for Q4: The protocol escalated in an uptrend in a tight parallel channel until September 25th reaching $8.2. Then it broke the channel with the commencement of Q4, surging to $16.49. With certain fluctuations, the price then claimed $21 on 5th November 2021. The introduction of the US infrastructure bill appears to have impacted the OMG price earlier this week, where the price has undergone a pathetic dip to $10.58 at the press time.
In case of extreme bullish sentiments, the price would move up to $21.52 in the upcoming bull cycle. The price might flip to $8.27 if bears dominate the space. However, with average buy and sell pressures the price would end up trading at $16.25 by the year’s end.
OMG Price Prediction 2022:
OMG might commence the next year with a maximum price of above $20. On a bullish note, the OMG price is expected to hit $28.45 by mid-May and might continue to hold the strength for several months. The price would potentially end up trading at $39.45 by the end of 2022. The probable financial crisis or regulatory compliance would abruptly impact the price to dip at around $15.26. With substantial buy and sell pressures, the price would claim $26.56 by the end of the year.
OMG Coin Price Prediction After 5 Years:
In 5 years, OMG’s price would continue to surge and it may break all its previous price records by claiming newer milestones. OMG Network has plans to introduce new services to its trading and once it completely transforms into a Proof-of-Stake (PoS) consensus mechanism, it would claim a value well above $50. On the flip side, the price would experience a steep fall up to $31.52. However, it has the potential to end up trading at $38 by the end of the next 5 years.
OMG Market Prediction:
As per the revised prediction of walletinvestor, OMG is forecasted to hit a maximum price of $15.505, minimum it would flip to $9.427 The token is expected to trade at an average price of $12.455. Walletinvestor anticipates OMG to trade at an average price of $40.187. And maximum price expected is $43.364, minimum it would plunge back to $37.191 by 2025.
According to DigitalCoinPrice, OMG will soar to reach a price close to $16.31 by the end of 2021. The price is expected to hit $31.77 by the end of 2025.
Gov. capital has changed their prediction for the OMG price, they expect the protocol to hit a maximum of $12.85. On the contrary, they believe, trend reversals in the market would plummet the price to $9.50. And with average buy and sell pressures it would end up trading at $11.17 by the end of 2021. The website has also made a whopping prediction in the long term, they expect the price to surge maximum of $233.32. The average and minimum probabilities is being $202.8 and $172.45 respectively by the end of 2025.
The OMG price has shown rapid volatility since the start of the year. With substantial fluctuations, OMG might claim $18.9 by the end of 2021. The price may increase if the company announces any new improvements. It might be a good investment in the long term perspective. OMG price might hit $35.45 incoming 2-3 years and eventually surge towards $50 by the end of 2025.
|Year||Potential High||Potential Low|
OMG Historical Market sentiments:
The price has achieved magnificent profits during the very beginning of its commencement. Being support Ether blockchain, OMG price has moved in pace with ETH price and claimed an ATH of $25.72 on 13th January 2018. With rapid volatility, the price ends up trading at $1 by the year’s end.
2019 and 2020:
With no significant collaborations and upgrades, the OMG price hovered between $0.7 to $1.2 throughout the year 2019. The network has succeeded in regaining strength in the year 2020. With a launch of V1 Mainnet Beta in June, the price has strongly attempted to claim $8. Yet failed to gain the expected profits as the project has ended up trading at $3.21.
Based on the data, it can be predicted quite risky to invest in the OMG price in short term. With proper analysis of trends, the users could earn good profits.
The OMG network (OMG) has a solid potential to reach new ATH’s as it has plans to shift to PoS soon. According to proponents and experts, OMG’s price can hit the $34-$38 mark by the end of 2025.
The OMG protocol is available to trade on major crypto exchanges like Binance, Huobi Global, FTX, KuCoin, etc.
If the current bullish trend continues and if the network executes updates and partnerships as per the plan, OMG’s price might claim $25 by year’s end.