OmiseGo (OMG), The First Ethereum Unicorn Cryptocurrency Crossing $1 billion Market Capitalization.
Impossible is nothing – OmiseGo, the Ethereum based cryptocurrency literally prove this phrase right when it finished its ICO after reaching the set target in rocket speed.
The latest cryptocurrency news is that OmiseGo(OMG) has gained the honorary title of Unicorn in cryptocurrency space for being the first Ethereum based token which reached the $1 billion market capitalization. The token, much of which is held in Chinese Yuan and Dollars have been experiencing a bull run lately with volume of $170 million and value climbing up the ladder from $1 to $10 in just a month.
The launch of Plasma protocol by Joseph Poon, the lead developer of OmiseGo in collaboration with Vitalik Buterin, the inventor of Ethereum provided much needed inertia to the OmiseGo token. The duo next interacted with certain officials from Central Bank of Thailand. The results of such rendezvous was not known previously but recently a confirmation was received indicating at a collaborative relationship with McDonald’s Thailand which might make use of OmiseGo for building strong payment channels.
Their pre-ICO investment of $16 million during summer 2017 has led to a $1 billion market cap which surely will keep OmiseGo busy for some time now. The pre-sale started on 7th June with an ICO date scheduled for 27th June.
The market cap level is still a rare offering for tokens but have become a popular sight among cryptocurrencies. Token sale have however reached a market cap of $10 billion approximately. Mammoth trading volumes clocking half a billion transactions can now be handled in just a days’ time. We surely can expect major activity in the crypto sphere with renewed interest of investors as new methods of project funding and business models are formed.
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