It’s not uncommon to hear different communities engage each other over social platforms concerning various aspects of specific coins and projects. However, in almost all cases, the issue of prices crops up, the race to a certain mark being one of the yardsticks used.
Well, that’s what we have here; EOS (EOS) vs. OmiseGO (OMG). Between the two coins, which one will hit the $20 price level first? While it’s a bit challenging to compare two projects with unique concepts, the market fundamentals, and other factors can help make a predictive prognosis.
What do they offer?
EOS will soon be migrating from the Ethereum blockchain. The platform is designed to offer blockchain infrastructure for the creation and deployment of blockchains. It has been variously called an “Ethereum killer” for its horizontal scalability- it means that EOS can allow parallel transactions alongside execution of smart contracts. The EOSIO will give developers the freedom to exploit the software in a way that no other platform does.
OmiseGO is an Ethereum-based platform that is built to provide payment services, trading, and exchange of crypto and fiat, as well as be a decentralized exchange. It’s the biggest pull is the high transactions per second capability- said to be able to reach 1 million tx/s.
EOS vs. OMG- the current market
EOS is ranked 5th on coin market, having risen through the ranks rapidly to overtake the more mature LTC in April. The token currently trades at $14.25 against the US dollar with a market cap of $12.2 billion. In the last 24 hours, EOS has had $1.4 billion worth of its token traded, with the majority of that volume generated on OKEx at 18%, Bithumb 13%, Huobi 13%, Upbit 12% and Bitfinex 10%. At the time of writing, the EOS token had an intraday high of $19.61 with the pair EOS/ETH, achieved on Koinex exchange. The lowest swing price was $13.12 recorded on Tidex exchange with the pair EOS/BTC.
In the hour-to-hour charts, EOS/USD had +0.27%, rising to +2.36% over the last 24 hours. However, its last 7 days haven’t been great, trading at -20.45%.
OMG is ranked 22nd on the market, also rising through the charts pretty quickly. OMG/USD currently trades at $14.39 as shown on CoinMarketCap. The OmiseGO platform has a current market cap of $1.4 billion. In the last 24 hours, there has been $39,695,800 worth of OMG token traded, with a majority of the volume generated on Binance 17.61%, Huobi 11.36%, and Ethfinex 8.87%. At the time of writing, the POMG token had an intraday price swing high value of $19.75 on Koinex and low price of $13.08 recorded so far on Tidex exchange. Both prices are in the pairs OMG/ETH and OMG/BTC respectively.
In the hour-to-hour charts, OMG/USD has had +1.02%, rising to +7.80% in the last 24 hours. Nevertheless, like most of the coins on the market, the token is trading in the red in over the last 7 days, currently at -13.62%.
EOS vs. OMG- What is likely to aid in price gain towards $20?
The EOS platform has had a great 2018 so far, even if the current performance is somewhat poor. The coin has a passionate community that has rallied behind it, buoyed by the daily auctions that popularized the token. Going forward, the one thing that will be big for EOS is its upcoming mainnet to be launched the beginning of June. EOSIO v.1.0 is expected to usher a period of growth for the platform. By then though, the coin may have already hit $20.
The OMG token is touted as the first that will implement Plasma protocol, potentially introducing infinite scaling of its network. The plasma protocol is expected to be launched in June too, increasing interest in a platform that is already promising to be better than traditional platforms in speed. It can also offer functionalities like peer-to-peer payments, money remittances, payment of bills and credit cards. It’s a host of exciting use cases that will help the token gain value in the future.
Conclusion: The race to get to $20 between EOS (EOS) and Omisego (OMG) is a tight one, with both tokens capable of doing it before the other. However, it looks EOS may pip OMG to the feat. This is due to the fact that EOSIO is just around the corner. Have your say, what do you think?