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OMG Network (OMG) Shows Bullish Sign Surging 30% in a Week

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OMG Network (OMG) Shows Bullish Sign Surging 30% in a Week
  • OMG shows bullish signs surging 30% in a week.
  • It provides cross-platform payments on the blockchain. 
  • OMG Network’s (OMG) price is trading at $10.65% 

A value transfer network for Ethereum and ERC-20 token is the OMG Network. In the past few days OMG network showing a bullish signal. Now, OMG Network (OMG) shows bullish signs surging 30% in a week.

Currently, OMG Network consists of a team of more than 50 employees derived all over the world. It was developed to help make Ethereum more attractive to businesses. OMG Network contains a proof-of-stake (PoS) consensus mechanism, this will enable users to stake their OMG tokens to help secure the network and earn rewards.

Furthermore, OMG, the utility token of OMG Network is utilized as one of the payment options for fees on the OMG Network. Child chains of OMG Network are secured by a proof-of-authority (PoA) consensus system. The child chain behaves as a transactional chain of the parent-child architecture.

More so, it provides cross-platform payments on the blockchain. This open payment network and decentralized exchange (DEX) abide in the Ethereum blockchain and enable a scalable and fully open alternative for users.

Furthermore, the users of OMG will enjoy low fees, quick transaction, and cash-out options. The OMG Network has launched a new scaling solution that increases the transaction speed.

Current Market Staus of OMG

According to CoinMarketCap, OMG price is trading at $10.65% with a 24-hour trading volume of $4,355,392. The circulating supply of OMG is 140,245,398.25 OMG and it spikes 21.65% in the last 24 hours. In the past 7 days, OMG has surged over 30%.

The above chart shows the bullish trend over the last 7 days. In the past 7 days, OMG has increased from $8.5 to $10.65. OMG Network can be traded in the crypto exchange such as Binance, Mandala Exchange, Huobi Global, OKEx, and FTX.

In addition, the upcoming updates and upgrades will boost the price of the OMG. Eventually, crypto traders can expect more surges in the forthcoming days

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Market May Be Suffering But Bitcoin And Ethereum Will Pull Back Stronger, Bloomberg Analyst

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Bitcoin and ethereum

Bitcoin and Ethereum have led the market in the recent downturns that have rocked the market. These two digital assets are no doubt market movers in their own right and as such, uptrends or downtrends begin with them. It has raised concern among investors who believe that the market is finally heading into a stretched-out bear market. However, not everyone believes this as some believe the current downtrend is only temporary.

Mike McGlone On Bitcoin And Ethereum

Mike McGlone is one of the leading Bloomberg analysts. Focused on the financial market, he authors a newsletter that shares his thoughts around various markets, including stocks and the crypto market. McGlone is currently one of the people with the most optimistic view of the market despite the various dips that have rocked the space. Most especially on the top digital assets in the crypto market.

Related Reading | Solo Ethereum Miner Hits The Jackpot With 170 ETH For Mining A Block

McGlone who was on The Wolf of all Streets podcast shared some interesting thoughts on the market, putting the analyst at an overall bullish position for bitcoin and ethereum.

BTC down to $38K | Source: BTCUSD on TradingView.com

The analysts point to the correlation with the stock market. This, he explains, is getting ready for a pullback and when this happens, bitcoin and by extension, ethereum, would benefit from this correction.

“Here’s my prediction: the markets pull back,” said Mike McGlone. “We finally get a 10%, maybe 20%, correction in the stock market. All correlations are one, which is usually the way it works. Bitcoin comes out better off for it. Ethereum, potentially too.”

This pullback though is only reflected on the top two cryptos which McGlone expects to recover after this.

Other Cryptos May Not Fare Well

Talking about other cryptocurrencies, the analyst took a more bearish stance on them. The positivity displayed in the podcast towards top coins bitcoin and ethereum did not translate to the rest of the market which he does not expect to fare well despite the pullback.

Related Reading | Ethereum Fee Averages Remain Above $30 Despite 35% Drop. Price Pump Incoming?

McGlone especially focused on dog coins which were arguably the winners of 2021. The craze which saw various meme tokens with no utility whatsoever soar to billions of dollars in valuation was referred to as “stupid” by the Bloomberg analyst.

“The rest of the space, we do have to admit, the speculation you saw in the dog coins last year was indicative of this. It’s just stupid and we’re going to tell the story to our grandkids,” he said.

Even for a digital asset like Solana which had a largely successful year, McGlone did not seem excited about it. He lumped SOL in with the dog coins, which he said were the riskiest of assets. “The bottom line is they are the riskiest of assets,” said McGlone. “There’s massive speculation. I mean the dog coins and even in things like Solana,” he added.

Featured image from Bitcoin news, chart from TradingView.com
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Opera’s new launch Web3 Crypto Broswer Is All Set For Your Device

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Opera's new launch Web3 Crypto Broswer Is All Set For Your Device

Opera, the famous email browser, has introduced a beta version of its web3 crypto browser. The new beta version is more than just your average internet surfer. Along with features such as a built-in cryptocurrency wallet and shortcut for quickly switching between different crypto exchanges. They have also added decentralized apps support.

Web3 Crypto Browser

Opera Web3 crypto browser supports both cryptocurrency and blockchain technology. It can function in an environment where digital currencies are accepted and store your funds securely for use on the web or when making transactions through NFC templates (Sony).

Blockchain is a decentralized solution that reduces the need for third-party verification by providing trust in transactions through digital signatures. Furthermore, the blocks of this network are spread all over the internet, so it’s tough to hack.

Related Reading | TA: Bitcoin Dives Below $40K, Why Bulls Could Struggle In Near Term

Blockchain is the future. It’s been implemented and tested against major corporations that have seen its potential for revolutionizing their industry.

The blockchain is like a security system to store and transmit data. It’s challenging for anyone else to view what you’re doing on this decentralized platform because all copies are identical, making it super safe.

Nowadays, blockchain technology finds itself being used not only by those seeking anonymity but also transparency. Whether you’re an artist wanting domestic creatives’ rights protected.

Web3 Browser Features

The new Opera Web3 Crypto Browser allows you to explore the emerging world of decentralized web apps. Right now, it’s mostly an online home for crypto enthusiasts and strange blockchain applications with sometimes interesting tokens on them.

The future of Web3 is here! With the Opera browser, you can now enjoy a decentralized internet where everything you do will be rewarded with tokens.

This foundation for mass adoption has been developed by an innovative company that understands how important security and privacy are in today’s world-a place without those two essentials would surely lead us into chaos.”

In an official announcement, Opera stated:

Too few of the web browsing experiences offered today have been built with the intention of putting Web3 centerstage and making blockchain technologies understandable and easy to use. With the Crypto Browser Project, we have set out to change this and starting today, we are inviting the blockchain community to join this mission. If we are to take Web3 beyond great ideas, we need to craft products that embrace both crypto enthusiasts who understand the space and those who are only starting and want to explore it. Our belief is that the world of blockchain needs a fully dedicated browsing experience.”

The crypto browser is a new way to make trading cryptocurrency easy and seamless. It allows users who don’t want the hassle of third-party solutions like Coinbase or Bitstamp to trade their coins right from within opera without worrying about losing private keys on babysitting Platforms that are known for security holes.

Total crypto market cap shows a decrease of 3% on daily chart | Source: TradingView.com

Crypto Corner is a unique browser extension in the Web3 crypto browser that contains the most topical and essential crypto news.So you never miss an update on new decentralized applications again.

Blockchain Technology Future

The Web3 project is not new. Do you remember The HTC Exodus 1 phone? It was an ambitious collaboration between many companies, including the well-known crypto wallet and Opera browser, but never saw completion.

The future seems bright for blockchain and cryptocurrency. Some people think it will be one of the most critical networks in our digital world.

Related Reading | TA: Ethereum Nosedives, Indicators Show Signs Of Larger Downtrend

In contrast, others worry about its environmental impact or how quickly these technologies grow saturated with data storage capacity as they are currently doing now due to their popularity among users worldwide.

It is too early to say that blockchain will never succeed. Technology still has many developing stages. We need time for its full potential to unfold before making any conclusions about whether or not this new invention can revolutionize the way we live our lives entirely.

Web3 Crypto Browser Available Versions

Try out this new browser that is so far available for Mac, Android, and Windows. The iOS version will be released soon.

Featured image from Pixabay, chart from TradingView.com
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Cardano Backed Metaverse Project Pavia’s Land Price Skyrockets

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Cardano

Last week, Cardano network launched Pavia, a gaming application on the Metaverse. This stands as the first metaverse project operated on the Cardano blockchain.

The use of non-fungible tokens (NFTs), which operate with the same blockchain technology as cryptocurrencies, is increasing. They enable investors to get tokenized assets of their favorite art items, idols, places, etc. NFTs create representations of both tangible and non-tangible items.

According to its design, Pavia has about 100,000 land parcels issued. Each land parcel’s minting is a non-fungible token, NFT, that possesses individual coordinates.

Related Reading | Bitcoin Millionaires Are Flocking To This North American Tax Haven. But What Do The Locals Think?

The pre-selling of the parcels kick-off since 2021 with more than 60% done between October and November. Also, there is a rush for the remaining portions which will be on sale within the first quarter of 2022.

The functionality of Pavia’s native token is as an in-game asset. An airdrop of Pavia’s native token was made to NFT landholders. This was after the blockchain’s snapshot in December 2021.

According to data from MuesliSwap, a Cardano-based exchange, Pavia tokens are selling around 20 cents per coin at the press time. Also, it has a market cap of more than $107 million.

ADA shows a 6% decline on daily chart | Source: ADA/USD on TradingView.com

Furthermore, Pavia landowners are more than 8,300. The data has it that the users were unable to deploy assets over their land on Monday. Caution documents from Pavia have warned customers that they can neither visit nor deploy content to the plots. This was due to the development stage of the land parcels.

More Craving For Metaverse Projects On Cardano

The emergence of Pavia on Cardano is during the period of incredible carvings for virtual parcels of land. Presently, the sale of virtual plots of land runs into millions of dollars on several blockchains such as Ethereum.

The value for land plats on Pavia runs as huge as 30,000 Cardano on CNFT, the Cardano NFT marketplace. This amount is equivalent to about $45,600 at the press time.

The Metaverse is recently getting more attention. It is a virtual world that provides people with unrestricted interactions like the real world.

This distinguishing factor is its digitalization of operations. The functionality of the Metaverse is attracting several firms as they intend to create their appearance on the platform.

One of the companies interested in the Metaverse includes Binance.US, developing on Portals, an office. Portals is a Solana-based metaverse project.

Related Reading | Bitcoin Implied Volatility Plummets To Pre-Bull Market Levels: What This Means

Also, Samsung, a global electronics maker, launched a metaverse brand of its New York City flagship store. This launching took place this January on Decentraland.

Featured Image From Britannica and chart from TradingView.Com
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