OmiseGo (OMG) appears to be strengthening its financial tools front to spur it from the bearish ghost that has been haunting it for the better part of the year. However, it has not been all gloom for the coin after showing some signs of resuscitation towards the end of June where a price spike saw it gain by 23% to surpass the $8 mark.
The latest market trends have not spared other coins with Bitcoin hitting a low of $6,100 in a move that has left many wondering the direction cryptocurrencies are taking. The last three days have seen many coins returning to their gaining way but still the overall market cap of $255.29billion appears a big worry for institutional investors.
OmiseGo (OMG) Integration with Status network (SNT)
As a scaling solution to its selloff woes, OmiseGo (OMG) has partnered with Status Network and this could be the turning for both outfits. The integration ease has been made easy due to the fact that the two projects ride on the Ethereum ecosystem. To support the move, the OmiseGo team says:
“The project is a scaling solution for finance on Ethereum, enabling transparent, peer-to-peer transactions in real-time. The decentralized network facilitates self-sovereign financial services across geographies, asset classes, and applications.”
On its part, Status Network doubles up as a payment and messaging protocol and rides on the Ethereum network to facilitate all its transactions in a decentralized environment. The platform enables its participants access the Ethereum network from anywhere using light client nodes that are mobile user friendly.
OmiseGo and Status Network Best Fit
The integration of OMG and SNT are stable projects with a very promising future. The partnership is expected to move the tokens from the selling pressure zone. By supporting each other, they are offering their users more options and features that will drive prices and value north. After inking the partnership deal, Status network Tweeted:
“We are proud to announce our partnership with @omise_go- one of the leaders in interoperability, on chain transactions & cross chain transactions, and Plasma scalability research. Find out what this partnership means & the future road ahead, visit our blog.”
This is welcome news to both communities and if the OmiseGo plasma achieves its full potential, it could be a game changer for the two partners. This will mean that Status network will fully utilize the WeChat full potential with instant messaging. The Duo will offer fast and secure transaction to the ever growing mobile and crypto users across the globe since the partnership is a two way win situation:
“Status and OmiseGo share a common vision to make the world a more open and equitable place through easy access to the Ethereum public blockchain. While OmiseGo focuses on building open infrastructure and open financial tools, Status focuses on putting these tools into the hands and pockets of people around the world.”
OmiseGo (OMG) and Status network (SNT) Market Performance
It has been less than a week since the partnership between OmiseGo and Status Network was announced but it is yet to generate the much needed hype to spur their prices. However, both coins are trading in the green with SNT gaining more than OMG in the last 24 hour trading session.
OmiseGo (OMG) token is trading at $6.82 after gaining 1.585 to the dollar and .18% to BTC but has lost 1.13% to ETH. Status Network (SNT) token has gained 2.10% and 0.90 to the green buck and Bitcoin respectively but has managed to shed 0.72% to ETH.