OmiseGO Soars 230% leaving concern over Bitcoin

OmiseGO Soars 230% leaving concern over Bitcoin

The unexpected sell-off of bitcoin has come with due nervous to the watchers who are willing to see a move of Bitcoin and cryptocurrency. The Bitcoin price had been trading sideways since April and a small cryptocurrency positioned itself in the top 30 most valuable tokens soaring 230% over the last month.

As per Coinbase, a digital currency exchange headquartered in San Francisco, California, revelation, it will list OmiseGO, which is an Ethereum-based open source payment platform based on the decentralized blockchain technology, which was sent higher after San Francisco-based Bitcoin.

The smart contract platform of OmiseGO, which is based in Bangkok, facilitates the movement of funds between traditional payment systems and decentralized blockchains. The price of OmiseGO has seen a mammoth increase earlier this month that came into the sight of Coinbase, which is the largest Bitcoin broker in the world as per 2017 report serving users in 33 countries.

Coinbase said it would surely list this minor cryptocurrency everywhere except in New York State as it has larger market value when compared to bitcoin. The exchange would list it meaning customers of that exchange will be able to buy, sell, convert, send, receive or store OMG. If compared to the price of 2017, the price of OMG is heavily down.

The price of Bitcoin which is trading now is half its December 2017 high. Some other smaller cryptocurrencies, for example Chainlink and tezos, also became able to gain traction because of their price soaring in recent times. They have seen a higher demand for decentralized finance platform. Bitcoin has experienced a bitter situation of price squeeze earlier this month and watchers are expecting for a price swings in the broader bitcoin and cryptocurrency market. At the same time, bitcoin price has seen a price cut due to halving issue. There was an assorted reaction regarding the Bitcoin price in the aftermath of having such as some analysts assumed that bitcoin price would descend to crash whereas some were bullish about bitcoin price.

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