OMG soars +30% - but can it keep going?

A
@Ibis
Sep 30, 2020

One of the top performing coins in the past 36 hours, OmiseGO (OMG) is up +30.09% since the start of the week, a solitary pump in a day full of red candles.

OMG, price, past 3 months (Source: Sanbase)

I wrote about OMG about a month back, when the coin surged due to a blend of rising transaction fees (which some believe OmiseGO can help address) and Tether’s USDT integration going live on the OMG network.


This time around, there seems to be no direct culprit for OmiseGO’s rally - no project announcements or price-moving rumours to help explain the coin’s first foray above $4 since September 5th.


With the reason for the pump unclear, let’s take a quick look at OMG’s fundamentals to gauge if the coin’s recent price action is at all sustainable, or if a swift cooling-off