OMG

OMG NetworkOMG

Rank #85
Token
On 114,469 watchlists

OMG Network Price (OMG)

$3.61
6.27%

0.0001073 BTC6.27%

0.001818 ETH6.27%

Low:$3.17
High:$3.86
24h
OMG  OMG Network OMGPrice: $3.61 6.27%
Market Cap
$505,759,073
6.27%
Fully Diluted Market Cap
$505,759,076
32.60%
Volume
24h
$228,127,365
16.34%
Volume / Market Cap
0.4511
Circulating Supply
140,245,398.25 OMG
100%
Max Supply
140,245,399
Total Supply
140,245,398
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OMG

OMG Network

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USD

United States Dollar

OMG Price Statistics

OMG Network Price Today
OMG Network Price$3.61
Price Change24h$0.2129
6.27%
24h Low / 24h High
$3.17 /
$3.86
Trading Volume24h$228,127,364.81
16.34%
Volume / Market Cap0.4511
Market Dominance0.57%
Market Rank#85
OMG Network Market Cap
Market Cap$505,759,072.83
6.27%
Fully Diluted Market Cap$505,759,075.55
32.60%
OMG Network Price Yesterday
Yesterday's Low / High
$2.91 /
$3.71
Yesterday's Open / Close
$3.46 /
$3.31
Yesterday's Change

4.11%

Yesterday's Volume$278,095,111.25
OMG Network Price History
7d Low / 7d High
$2.91 /
$5.40
30d Low / 30d High
$2.91 /
$7.98
90d Low / 90d High
$2.91 /
$15.32
52 Week Low / 52 Week High
$1.34 /
$15.32
All Time High
Jan 08, 2018 (3 years ago)
$28.35
87.28%
All Time Low
Jul 16, 2017 (4 years ago)
$0.3197
1028.03%
OMG Network ROI

570.93%

OMG Network Supply
Circulating Supply140,245,398 OMG
Total Supply140,245,398 OMG
Max Supply140,245,399 OMG

OMG Network Chart

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OMG Price Live Data

The live OMG Network price today is $3.61 USD with a 24-hour trading volume of $228,127,365 USD. OMG Network is up 6.27% in the last 24 hours. The current CoinMarketCap ranking is #85, with a live market cap of $505,759,073 USD. It has a circulating supply of 140,245,398 OMG coins and a max. supply of 140,245,399 OMG coins.

If you would like to know where to buy OMG Network, the top exchanges for trading in OMG Network are currently Binance, OKEx, Huobi Global, CoinTiger, and FTX. You can find others listed on our crypto exchanges page.

What Is OMG Network (OMG)?

OMG Network, formerly known as OmiseGo, is a non-custodial, layer-2 scaling solution built for the Ethereum blockchain. As an Ethereum scaling solution, OMG Network is designed to allow users to transfer ETH and ERC20 tokens significantly faster and cheaper than when transacting directly on the Ethereum network.

The network is based on a novel scaling solution called MoreViable Plasma, which uses a sidechain architecture to group several transactions off-chain into a batch, which can then be verified as a single transaction on the Ethereum root chain. According to OMG Network, this technology has the potential to scale Ethereum to thousands of transactions per second (TPS) — instead of the 10 to 14 tps Ethereum 1.0 is currently capable of.

The network is powered by the OMG utility token, which can be used as one of the payment methods for fees on the OMG Network, and will eventually be stakable — helping to secure the network in return for rewards.

Who Are the Founders of OMG Network?

The OMG Network currently consists of a team of more than 50 employees scattered across the world. It was founded by Thai-born Vansa Chatikavanij and operates as a subsidiary of SYNQA — a Thailand-based fintech firm that was formerly known as Omise Holdings.

As the projector founder, Vansa Chatikavanij received a master’s degree in earth and environmental sciences at New York's Columbia University. Following this, Chatikavanij held several consulting roles at prominent financial institutions including the International Finance Corporation (IFC) and World Bank Group, before founding OMG Network (then OmiseGo) in 2017.

Chatikavanij held the role of managing director at the company until 2019, before transitioning to the role of CEO, which she still holds to this day. Beyond this, Stephen McNamara — former head of blockchain R&D strategy at Huawei Technologies — is OMG Network's COO, whereas Kasima Tharnpipitchai, a heavily experienced engineer and consultant, is its CTO.

What Makes OMG Network Unique?

OMG Network believes that Ethereum’s significant speed and cost barriers will need to be overcome before mainstream businesses will consider building their products and applications on the network.

As such, the OMG Network project is built to help make Ethereum more attractive to businesses and projects that want to scale while simultaneously cutting down on their carbon footprint. It achieves this with its plasma-based sidechain solution, which can help reduce electricity usage by up to 99% compared to Ethereum and cut fees by around two thirds, while ensuring assets remain secured by the underlying Ethereum network.

The platform itself is supported by $25 million in funding obtained during its 2017 initial coin offering (ICO). Moreover, OMG Network parent firm SYNQA recently raised a further $80 million in Series C funding — and was supported by several major investment firms, including Toyota Financial Services Corporation and Sumitomo Mitsui Banking Corporation.

Relevant Pages

Read about Stellar — one of OMG Network's biggest contenders.

Find out more about Polkadot — a high-speed smart-contract capable blockchain.

Take a deep dive into Ethereum 2.0 with CoinMarketCap Alexandria.

Stay on top of the latest trends with the CoinMarketCap Blog.

How Many OMG Network (OMG) Coins Are There in Circulation?

Like most cryptocurrencies, OMG Network tokens have a fixed maximum supply. This is set at exactly 140,245,398 OMG and will never increase beyond this point. Unlike many other cryptocurrencies, this total supply has already been fully minted, with the majority already in active circulation.

Of the total supply, 65.1% of tokens were distributed to investors and 5% were distributed in an airdrop, whereas the last 29.9% is held by the project and team. Of this 29.9%, 20% is locked in the OMG Network reserve smart contract for funding future developments and network validation, and the remaining 9.9% is reserved for the founding team.

Both the OMG reserve and team allocation were locked for one year, but this has since elapsed.

How Is OMG Network Secured?

The OMG Network mainnet will eventually move to a proof-of-stake (POS) consensus system, which will allow users to stake their tokens to help secure the network and earn rewards.

Until then, OMG Network child chains are secured by a proof-of-authority (PoA) consensus mechanism, which is basically a simplified form of proof-of-stake which is controlled by a single block producer (OMG Network itself) for now — which essentially stakes its reputation on staying honest.

OMG Network plans to transition to proof-of-stake as soon as it’s ready, following which OMG holders will be able to become stakeholders in the success and security of the network, by delegating their stake to validators.

Where Can You Buy OMG Network (OMG) Tokens?

OMG tokens are highly liquid and can be purchased or traded on well over 200 different exchange platforms, including several top 10 exchanges — such as Coinbase Pro and Binance. Some of the most popular trading pairs include OMG/USDT, OMG/BTC and OMG/ETH.

OMG can also be traded against several fiat currencies, including U.S. dollars (USD), euros (EUR) and British pound sterling (GBP). To find out more about purchasing cryptocurrencies with fiat, read our simple guide — here.