Introduction
OMG Network is an Ethereum-based platform designed to address blockchain scalability issues.
Key Specifications
| Parameter | Details |
|---|---|
| Max Supply | 140,245,399 OMG |
| Consensus Mechanism | Proof of Authority (PoA) |
| Launch Date | July 2017 |
| Parent Organization | Omise Go Pte Ltd. |
| Proposer | Omise Go Pte Ltd. |
| Official Website | https://omg.network/ |
| Whitepaper | https://docs.omg.network/ |
| Official X (Twitter) | https://twitter.com/omgnetworkhq |
👉 Explore OMG trading opportunities
What Is OMG?
Originally, OMG served as the native token for the OMG Network, operated by the OMG Foundation. However, in 2021, the OMG Network transitioned to the BOBA Network, rendering OMG obsolete. Currently, OMG lacks a clear utility, though its price may still correlate with BOBA Token (BOBA) performance.
Features of OMG Network
Fast Processing and Low Fees
Built on Ethereum, OMG Network leverages MoreViable Plasma (MoreVP), a proprietary scaling solution that batches transactions via sidechains. This reduces costs and accelerates throughput.
Robust Security
Combining MoreVP with Minimal Viable Plasma (MVP), the network achieves security parity with Ethereum.
OMG Price History
OMG’s price surged from $0.50** in July 2017 to an all-time high of **$24.00 in January 2018. After volatility, it stagnated until a 2021 rebound near $20.00, followed by a decline. As of 2024, OMG trades near historic lows.
Market Capitalization
As of December 2024, OMG ranks #610 among cryptocurrencies, with a market cap of $69 million. For context:
| Rank | Cryptocurrency | Market Cap |
|---|---|---|
| 1 | Bitcoin (BTC) | $2.166 trillion |
| 2 | Ethereum (ETH) | $319.7 billion |
| 3 | Tether (USDT) | $152.9 billion |
| 4 | XRP | $135.8 billion |
| 5 | BNB | $96.4 billion |
Source: CoinMarketCap (May 2025)
Where to Buy OMG
Japan-Based Exchanges
- SBI VC Trade
- BitTrade
- bitbank
FAQ
1. Is OMG still functional after the BOBA transition?
No, OMG is no longer actively used but may trade based on BOBA Network developments.
2. Why did OMG’s price drop post-2021?
The shift to BOBA Network reduced demand, coupled with broader market trends.
3. Can OMG regain its 2018 highs?
Unlikely without renewed utility, though speculation may cause short-term spikes.
Disclaimer: This content is informational only and not financial advice. Cryptocurrency investments are high-risk.
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