OMG Network (OMG) Hits Market Cap of $1.22 Billion

OMG Network (CURRENCY:OMG) traded down 4.1% against the US dollar during the 1-day period ending at 12:00 PM ET on May 4th. In the last seven days, OMG Network has traded up 18.9% against the US dollar. One OMG Network coin can currently be bought for approximately $8.69 or 0.00016178 BTC on cryptocurrency exchanges. OMG Network has a total market cap of $1.22 billion and approximately $1.14 billion worth of OMG Network was traded on exchanges in the last 24 hours.

Here’s how similar cryptocurrencies have performed in the last 24 hours:

  • Thunder Token (TT) traded down 12.2% against the dollar and now trades at $0.0165 or 0.00000031 BTC.
  • Mithril (MITH) traded down 16.8% against the dollar and now trades at $0.11 or 0.00000200 BTC.
  • Harvest Finance (FARM) traded 2.4% higher against the dollar and now trades at $162.03 or 0.00301615 BTC.
  • Raiden Network Token (RDN) traded 7.1% lower against the dollar and now trades at $0.97 or 0.00001808 BTC.
  • ROOBEE (ROOBEE) traded down 9.4% against the dollar and now trades at $0.0187 or 0.00000035 BTC.
  • The Force Protocol (FOR) traded 0.6% lower against the dollar and now trades at $0.0238 or 0.00000126 BTC.
  • Dracula Token (DRC) traded down 20.7% against the dollar and now trades at $0.65 or 0.00001217 BTC.
  • Digital Reserve Currency (DRC) traded 10.1% lower against the dollar and now trades at $0.0075 or 0.00000014 BTC.
  • ContentBox (BOX) traded down 20.3% against the dollar and now trades at $0.0033 or 0.00000006 BTC.
  • BOX Token (BOX) traded down 4.6% against the dollar and now trades at $0.0507 or 0.00000094 BTC.

OMG Network Profile

OMG Network is a proof-of-stake (PoS) coin that uses the ETH Token hashing algorithm. Its genesis date was June 23rd, 2017. OMG Network’s total supply is 140,245,398 coins. OMG Network’s official Twitter account is @omise_go and its Facebook page is accessible here. The official website for OMG Network is omg.network. The Reddit community for OMG Network is https://reddit.com/r/OMGnetwork and the currency’s Github account can be viewed here.

According to CryptoCompare, “OmiseGO is building a decentralized exchange, liquidity provider mechanism, clearinghouse messaging network, and asset-backed blockchain gateway. OmiseGO is not owned by any single one party. Instead, it is an open distributed network of validators that enforce the behavior of all participants. It uses the mechanism of a protocol token to create a proof-of-stake blockchain to enable enforcement of market activity amongst participants. Owning OMG tokens buys the right to validate this blockchain, within its consensus rules. Transaction fees on the network including payment, interchange, trading, and clearinghouse use, are given to non-faulty validators who enforce bonded contract states. The token will have value derived from the fees derived from this network, with the obligation/cost of providing validation to its users. OMG rebrand: OmiseGO Rebrands to OMG Network “

Buying and Selling OMG Network

It is usually not possible to buy alternative cryptocurrencies such as OMG Network directly using US dollars. Investors seeking to acquire OMG Network should first buy Ethereum or Bitcoin using an exchange that deals in US dollars such as Changelly, Coinbase or GDAX. Investors can then use their newly-acquired Ethereum or Bitcoin to buy OMG Network using one of the aforementioned exchanges.

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