Bitcoin has had a rough couple of days with its latest dip below $9,000. While that didn’t last long (the asset has since risen back to about $9,100 at press time), other coins – such as OmiseGO – have utilized this period to exhibit bullish activity and rise beyond what anybody thought possible.
OmiseGO Is Pumping Like Mad
OmiseGO (OMG) is a coin that probably nobody’s really heard of before, but that’s all about to change considering Coinbase – the biggest and most popular cryptocurrency exchange in the United States – has just announced it’s planning to list the token for trading and selling. In a blog post dated last Thursday, the crypto trading platform announced:
Starting today, Coinbase supports OmiseGO (OMG) at Coinbase.com and in the Coinbase Android and iOS apps. Coinbase customers can now buy, sell, convert, send, receive, or store OMG. OMG will be available for customers in all Coinbase-supported regions except for New York State.
Avid traders in New York can probably thank the BitLicense for Coinbase’s lack of entry into the Big Apple. Nevertheless, customers of the exchange virtually everywhere else will now enjoy access to the remote coin.
An ERC-20 token (meaning it’s powered by Ethereum), OmiseGO powers its native smart contract platform. This allows businesses and individuals alike to experience more freedom in making financial decisions granted they use the OMG blockchain, such as how and where to invest. OmiseGO works to ensure that all blockchains are interoperable and can communicate with each other.
In addition, OmiseGO has the goal of ensuring that blockchains can all send and receive money to and from each other. The idea is to remove all barricades in the crypto space and ensure that users everywhere can gain access to the money and financial services they need to survive everyday life.
Coinbase has been on a serious roll for some time to potentially add as many coins to its trading platform as possible. The company announced it its blog:
One of the most common requests we hear from customers is to be able to buy and sell more cryptocurrencies on Coinbase. Per the terms of our listing process, we anticipate supporting more assets that meet our standards over time. We are also investing in new tools to help people understand and explore cryptocurrencies.
Boy, What a Coinbase Listing Can Do!
Interestingly, OmiseGO is not even in the top 30 cryptocurrencies, yet it’s grown by more than 230 percent over the past month alone. When other mainstream currencies are suffering, like bitcoin and Ethereum, OmiseGo is pumping like mad. Larry Cermak – director of research at The Block – explained:
The good old Coinbase listing pump is back. It was announced that it’s listing on Coinbase.
As bitcoin struggled through coronavirus pandemic, Coinbase suffered two temporary outages that prevented customers from getting to their funds.