The founder of Ethereum (ETH), Vitalik Buterin tweeted about OmiseGO in mid December. Buterin said OMG is his favorite token which caused over 100% increase in OMG’s value. OMG proceeded to grow to $19 per coin.
Why is OmiseGO Ethereum’s Favorite?
According to Buterin, OMG “style tokens” are his favorite because they do not have a medium of exchange. The coins also have a clear valuation model.
Right now my favorite token model is OMG-style staking tokens. Reasons:
* Not a medium-of-exchange token
* Clear valuation model (expected discounted future tx fees minus node operation cost)
* Requires running node to get returns, not passive income (so more legally defensible)
— Vitalik Buterin (@VitalikButerin) December 12, 2017
Vitalik is a powerful figure in the cryptocurrency universe and his opinions certainly carry weight. OmiseGO is based on the Ethereum framework and to have the founder of the coin endorsing the token says a lot about its potential.
The Current Status of OMG
OsimeGO has surpassed the billion dollar market cap milestone and managed to sustain this value so far in 2018. OMG has recently partnered with McDonalds and has been chosen to be McDonald’s Thailand’s exclusive payment gateway.
” With Omise, McDonald’s Thailand has revamped the checkout journey for their customers making the process simple, speedy and convenient. ” – OmiseGO Press Release
This rollout will target approximately a quarter of a billion people that do not have bank accounts. If this succeeds, the token will have 1% of their target market on the platform.
2018 – What’s To Come
According to CoinMarketCap, OMG is trading in the $20 range and is slowly increasing market cap. The token’s stable growth even though the December Bitcoin price decline is indicative of the token’s value and diversity through such a speculation driven market. The token is expected to appreciate in value and could surge if they succeed in the Thailand launch. Furthermore, OmiseGO is approved by and advised by Ethereum.