At Toronto’s Edcon event, OmiseGo took the meme prize by positioning itself as the blockchain project that brings Vitalik Buterin’s mind to everyone’s grandma.
https://twitter.com/JUN_Omise/status/992444301945724928
But more importantly, the CEO and co-founder of the project, Jun Hasegawa, believes crypto is still small in size - and has leeway to grow and compete with mainstream assets.
In his Edcon speech, Hasegawa compared the crypto market to fiat denominated assets. With a market capitalization of around $400 billion, the value of all assets is still comparatively low to the trillions of dollars of fiat-denominated assets. The crypto market is still incomparably small to the construction and real estate market that boomed in the past decade.
The biggest advantage of crypto coins is that they are the perfect exchangeable asset. According to Hasegawa, digital coins are “versatile, receptive, secure, complete, private, stable, scalable.”
Although there are still discussion as to the legal status of digital coins, with some considered a form of securities, the ease of global transactions in crypto remains the most enticing feature.
OMG Price Faces Crossroads
The OMG digital asset attempts to chart its own path as crypto coins develop. OMG will always remain an Ethereum-based asset, and use additional features and the sidechain solution to the scaling problem.
The OMG market price has awakened in recent days, hovering at $16.74 after almost touching $20 at one point.
!OMG!
The price of the OMG digital asset is locked into a rather tight range, with no breakout to $50, or $100 as the most bullish predictions expected. Still, OMG has had days where it took over the leading spots on Binance.
But for now, the project grows relatively slowly. Despite being one of the most successful ICOs, OMG may be overlooked.
The risk profile of OMG is also curious. The most active trades are against Bitcoin, but at the moment, more than 26% of trades are in the Tether (USDT) market. This means that OMG may be an asset where direct speculation in dollar prices can boost performance. OMG also trades against Ethereum, for a rather diversified risk profile.
This article appeared first on Cryptovest
