Cryptocurrencies have seen tremendous growth over the past few years. One of the unique projects intended to resolve the glitches related to payment processors and financial institutions is the OMG network. Which with its OMG token had turned the heads of the masses in the past.
The stout fundamental traits of the OMG network have been lucrative enough for marketers to grab some. Hodlers and investors have been waiting for a bullish price run of the digital asset. Are you one of the many, who is keen on the predictions of OMG? Look no further as this write-up will illustrate the feasible price projections of OMG for 2022 and the years to come!
|Circulating Supply.||140,245,398.25 OMG|
|All-time high.||$25.72 on 13th January 2018.|
|All-time low.||$0.4653, 12th December 2020.|
OMG Network (OMG) Price Prediction For 2022
|Potential Low||Average Price||Potential High|
OMG’s price commenced the year on a bullish note and raised up to $6.10 with a 20% upsurge. However, as US Fed FUDs hit the market hard, OMG was not an exception. The altcoin faced a heavy rejection at $6.6 and plunged to $4.3 with a 10% loss round the clock. By the 23rd of January, OMG was trading at its five-month low, while its crucial support was near $3.73.
On the 24th of January, the price hit its first major annual bottom at $3.71. However, a spike in volumes helped the altcoin rebound quickly. Constructing an uptrend, OMG closed its trade for January at $5.12. However, the digital asset underwent a correction at the start of February, with losses of 11.4%. Post which the price escalated by 23.64% by the 8th of February.
But the fuel was then drained, as tensions around the globe led to a downswing. Which took OMG’s price to $4.5 by the 15th of February. While the crypto asset took a short term ascend to $4.95. Traders extracting profits further aggravated the bearish trends. Wherefore, the price of OMG hit a multi-month low of $3.34, by the 24th of February.
As the digital coin hit its oversold regions at RSI levels of 27.69. OMG portrayed a v-shaped rebound to $4.14 by February 24th. After a short-term pullback to $3.79. The price soared to $4.56 by the 2nd of March. The traverse further got coarse as OMG lost 21% in value in the first week itself. However, it did portray a 32% uptrend in the next 2-days. But turbulence in its trajectory led to the quarter’s closure at $5.81.
OMG Network’s (OMG) Price Prediction For Q2
The trade for the second quarter until the time of publication has been fairly rough. As OMG has lost 46.05% in valuation since the 3rd of April. If the network undergoes major developmental upgrades and manages to attract the crowd. The price of OMG could surge to its potential high of $4.53.
Conversely, ebbing volumes and prolonged bearish trends could land the price at $3.42. That said, an equilibrium in the buying and selling pressures could settle the price at $3.96.
OMG’s Price Forecast For Q3
If the cryptocurrency carries forward the third quarter in a bullish stance. And witnesses notable adoptions and collaborations. The price of the digital asset could munch greener candles to claim a maximum price target of $6.3. However, negative criticism and the network losing out on market hold. Could possibly bring the price down to $4.78. Constrained by a linear price trajectory, the average price could settle at $5.41.
OMG Network’s Prediction For Q4
The optimistic social sentiments in the fourth quarter, coupled with the flourishing user base of the network. Might take the price to a maximum target of $9.07. However, a possible financial crisis or regulatory compliance would abruptly haunt the price to $6.13. Considering the bullish and bearish targets, the average price could land at $7.88.
OMG’s Price Forecast For 2023
In the case of extreme bullish sentiments, the price would move up to $17.91 in the 2023 bull cycle. The price might flip to $9.12 if bears dominate the space. However, with average buy and sell pressures the price would end up trading at $13.83 by the year’s end.
Price Prediction Of OMG For 2024
Growing global adoption of cryptocurrencies and a wider user base could push the price to a maximum of $31.3. However, emerging capable rivals to both OMG network and Ethereum could slash the price to $16.04.
Price Trajectory For 2025
OMG Network has plans to introduce new services to its trading. And once it completely transforms into a Proof-of-Stake (PoS) consensus mechanism. It might claim a value well above $53.85. On the flip side, the price might as well experience a steep fall to $32.06.
|Year||Potential Low||Potential High|
What Does The Market Say?
Digital Coin Price
As per the revised prediction of Digital Coin Price, OMG is forecasted to hit a maximum of $4.91 in 2022. The prediction pins the minimum and average targets at $4.22 and $4.57. The forecast expects the altcoin to hit a maximum of $5.46 by the end of 2023. And $7.74 by the end of 2025.
According to the website, OMG might surge to a maximum of $6.49 by the end of 2022. Going forward the cryptocurrency could surge as high as $9.4 by 2023. And $20.27 by the end of 2025.
Trading Beasts have updated its prediction for OMG, it expects the altcoin to soar to $4.46 in 2022. The analysts from the firm have set the minimum and average price possibilities at $3.039 and $3.57. For the long-term, it anticipates OMG to go up to $8.88 by the end of 2025.
Click here to read our price prediction of Cardano’s ADA!
What is the OMG Network (OMG)?
OMG Network was built in order to facilitate a Layer-2 scaling solution for Ethereum. The non-custodial protocol was previously named as OmiseGo. The aim of the platform is to affirm a high-transaction throughput at a reliable price. The network has its own native utility token called OMG. The token can be used as a payment solution for fees on its platform. And users can use the token to earn rewards by staking.
However, the network makes use of a distinct scaling solution called MoreViable Plasma. Which is integrated with the plasma sidechain method of architecture. Which categorizes several transactions off-chain into a pack that can then be confirmed as one transaction on the Ethereum blockchain.
While the OMG network has been deployed to boost the Ethereum ecosystem by resolving the glitches related to transaction speed and fees. The sidechain solution would also help in bringing down electricity usage by almost 99%.
The OMG Network was founded by Vansa Chatikavanij in 2017. The tech firm is based out of Thailand, previously recognized as Omise Holdings. The founder completed his master’s graduation from Columbia University in earth and environmental sciences in New york. He has accumulated knowledge in working with financial institutions such as the World Bank and International Finance Corporation.
He worked as a managing director at the company until 2019. The present COO of the network is Stephen McNamara, who served at Huawei technologies as a former head of Blockchain R&D strategy. Whereas Kasima Tharnpipitchai is working as a CTO of the OMG network.
OMG network released the Proof-of-Concept consensus mechanism in January 2018, which was built as an early version of its Plasma-based sidechain. Alpha launch of the OMG platform in 2019 called Ari ensured the more tech-savvy iteration of the protocol. In contrast to its Minimum Viable Plasma predecessor.
Furthermore, the OMG network launched a test net version of its platform on a Ropsten environment in March 2020. However, in the same month, the network released its mainnet version OMG Network V.01.
The OMG price has shown rapid volatility in the recent past. With substantial fluctuations, OMG might claim $9 by the end of 2022. The price may increase if the company announces any new improvements.
As per Coinpedia’s formulated OMG Network Price Prediction, it might be a good investment in the long term perspective. OMG price might hit a maximum of $31.30 by the end of 2024. And might eventually, surge towards $50 by the end of 2025.
Historical Market Sentiments
The price had achieved magnificent profits during the very beginning of its commencement. Being supported by the Ethereum blockchain. OMG price moved in pace with ETH price and claimed an ATH of $25.72 on 13th January. With rapid volatility, the price ends up trading at $1 by the year’s end.
2019 and 2020
With no significant collaborations and upgrades, the OMG price hovered between $0.7 to $1.2 throughout the year 2019. The network succeeded in regaining strength in the year 2020. With the launch of V1 Mainnet Beta in June. The price had strongly attempted to claim $8. Yet failed to gain the expected profits as the project ended up trading at $3.21.
The price started moving on an upward trajectory in early January. The OMG price went on to claim a series of higher lows for three consecutive months. Initially, the price climbed to $6.5 by surging more than 100% in January. Later with a short breather, it broke a crucial resistance of $9.6 reaching $14 by mid-May.
Later, the price action was hit hard by the Chinese market crash on May 19th. Where the price declined by more than 200% reaching $3.17 on 20th July. The protocol escalated in an uptrend in a tight parallel channel until September 25th reaching $8.2. Then it broke the channel with the commencement of Q4, surging to $16.49. With certain fluctuations, the price claimed $21 on 5th November.
The introduction of the US infrastructure bill appears to have impacted the OMG price. Where the price underwent a dip to $10.58. Further, the altcoin had severely failed to catch hold of the bullish momentum and supports weakened. As a result of vast selling pressure build-up. With consecutive generations of higher lows, the OMG price plunged to $5 by the year’s end.
To read our price prediction of ApeCoin (APE) click here!
Q1. Is The OMG Network (OMG) a good investment?
A: With proper analysis of trends, the users could earn good profits in the long term.Q2. How high may The OMG network (OMG) price hit by the end of 2025?
A: The OMG network (OMG) has a solid potential to reach new ATHs as it has plans to shift to PoS soon. Wherefore, OMG’s price might hit the $53.85 mark by the end of 2025.Q3. Where can I buy the OMG token?
A: OMG is available to trade on major crypto exchanges like Binance, Huobi Global, FTX, KuCoin, etc…Q4. Will The OMG network (OMG) hit $25 by the end of the year 2022?
A: If the star’s incline in favour of the protocol, the price of the altcoin could hit a maximum of $9.07 by the end of 2022. Q5. What is the current ROI of OMG?
A: The ROI of OMG presently stands at 543.44%.