OmiseGo, which has been one of the lesser discussed cryptocurrencies could be in for an interesting ride over the next few months. Even though the cryptocurrency has been a relatively tepid performer since its debut, some in the market believe that could all be about to change. In this article, we’ll take a closer look at its recent performance and consider whether the time has come to say OMG about the performance of OMG.
Taking a quick glance at the year to date or longer-term performance of OmiseGo would initially suggest that there isn’t much worth getting excited about here. The cryptocurrency has generally followed the pattern of cryptocurrencies as a whole, although its form since the start of the year has been better, and substantially less dramatic, than other better known cryptocurrencies such as Bitcoin.
Partnerships are key
As with most of the cryptocurrencies that have managed to weather recent poor conditions in the market, the secret of OmiseGo’s recent stability lies in the partnerships that its developers have worked hard to create. They have managed to create links with a number of sector leaders and financial institutions, including SMBC, Golden Gates Ventures and East Ventures. This massively increases the visibility of OmiseGo in the cryptocurrency space and gives it a level of credibility that is difficult for cryptocurrencies to enjoy without some level of external backing. Some observers have also credited the work of the development team behind OMG, and their focus on user friendly features, with staving off the decline that has hit so many other cryptocurrencies in recent months.
OmiseGo seems yet another example of how cryptocurrencies are changing. Solid partnerships with financial institutions that have made their names in traditional markets now seem to be a key part of any cryptocurrency success story.
Source: https://www.youtube.com/watch?v=Z-M8_Lezvts – Great Video By Justin Ruggiero