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Posted   |     |   omesigo

OmiseGo (OMG) Is Under A May Curse

While April was one of the most successful months for cryptocurrencies, May hasn’t been quite. The first half of May has seen most digital assets struggle to maintain a progressive value. OmiseGo (OMG) is once again in the sickening red zone, but here’s how the asset has performed thus far.

Price and Performance of OmiseGo

The month of May has been quite a turbulent one for OmiseGo and many other cryptocurrencies. The OMG tokens traded as high as $19 USD in the closing days of April. However, May has not been so friendly for OmiseGo. It has suffered huge blows from the reeling crypto market.

In May alone, OmiseGo has lost over $500 million USD in market cap, trading volume is down by over 60% and the value of the OMG tokens suffers daily decline. Over the last one hour, approximately 60% of the crypto market are back in the red.

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As of now, OmiseGo (OMG) is down by 1.6%, and is trading at $13.06 USD. The digital asset is currently the 23rd largest cryptocurrency with a market cap of $1.33 billion (USD), and the 24 hours trading volume over the last 24 hours is $29.77 million USD.

Alert! New Roadmap for OmiseGo (OMG)

Roadmaps for cryptocurrencies are easier set up than followed, which usually leads to multiple adjustments along the road. OmiseGo has released an update to its original roadmap. While OmiseGo has come a long way in implementing projects on its roadmap, there remains one unfinished project for Q1 of 2018, the Plasma Cash.

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Plasma cash was first proposed by OmiseGo in March 2018, the Plasma construction upon completion would be able to turn fungible assets into unique coins on the OmiseGo root chain to increase security and usability, which is just what everybody wants now. The Project is still undergoing developments, and a release date is yet to be announced.

According to the updated OmiseGo roadmap, after completing the Plasma cash, the Initial Plasma Implementation (Tesuji) stage would follow. Tesuji would not be around until Q3 but has instigated excitement, as this stage would see OmiseGo;

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