OmiseGO (OMG) is a token-based digital currency backed by the Plasma decentralized exchange and a digital wallet provided by Omise.
The technology behind OmiseGO revolves around providing super-fast payments and linking e-wallets for different types of fiat and digital currencies.
It’s designed to facilitate payments for goods and services on the web to and to enable the cross-border transfer of assets. Backed up by the Ethereum Foundation, the project’s extremely successful ICO held in June sold out before it had even gone live to the public.
OMG has been one of the year’s best performers and currently trades at around $7.00 after launching with an ICO price of just $0.24. Most OMG observers have been waiting for a suitable entry point and now is as good a time as any. Prior to the downturn experienced by altcoins because of Bitcoin forks, OMG was generally trading at around $8.00. Since that time, the price has dropped to $6, but has recently bounced back above $7. However, OmiseGO is a popular project with both Western and Asian investors and the OMG token has recorded returns of over 2000% since its ICO as well as recording an all-time high price of over $12. Many feel that OMG provides great value at its current market cap of around $640M so look for significant positive price action in the months to come.