The forgotten crypto dinosaur with huge upside OMNI
This serves as a supplement to my analysis, OMNI-the-forgotten-coin-with-huge-upside
Since it’s inception in the form of Mastercoin in 2013, the Omni Layer protocol became the most successful meta-protocol on top of Bitcoin.
In total, digital assets with a market capitalization of more than $ 3 billion are represented on the layer. At the time of writing USDT tether, an OMNI layer asset has a daily trade volume that tops 20Billion USD.
Although there is also an ERC20 version of Tether running on the Ethereum blockchain OMNI has and is the key party responsible for USDT issue. In fact last year the Omni foundation and Charlie Lee announced that Tether would soon be issued on the Omni layer of Litecoin.
Now look at these figures:
-Market cap of only $1 million, peanuts
-Total supply of ~500,000, scarce
-Ranked 789 in terms of market capitalization on Coinmarketcap
What a bargain? Well, not really. OMNI only acts as a "Bitcoin Wallet", a layer built on top of the BTC blockchain. Most would then argue that it fulfils an important purpose but doesn't itself have any value. It is a good point but this is crypto and value could just be what investors/traders think they will gain from buying an asset and selling it later.
The investment then becomes simple: OMNI is now trading on Bitfinix. It is important for the crypto market which is reliant on USDT. It's extremely scarce. All we need is a small amount of trade volume generated from some traders who see green (dollars) and we could have a dramatic price rise. At the current price ~$2 just 1 millionUSD is required for 100% gain.
Since it’s inception in the form of Mastercoin in 2013, the Omni Layer protocol became the most successful meta-protocol on top of Bitcoin.
In total, digital assets with a market capitalization of more than $ 3 billion are represented on the layer. At the time of writing USDT tether, an OMNI layer asset has a daily trade volume that tops 20Billion USD.
Although there is also an ERC20 version of Tether running on the Ethereum blockchain OMNI has and is the key party responsible for USDT issue. In fact last year the Omni foundation and Charlie Lee announced that Tether would soon be issued on the Omni layer of Litecoin.
Now look at these figures:
-Market cap of only $1 million, peanuts
-Total supply of ~500,000, scarce
-Ranked 789 in terms of market capitalization on Coinmarketcap
What a bargain? Well, not really. OMNI only acts as a "Bitcoin Wallet", a layer built on top of the BTC blockchain. Most would then argue that it fulfils an important purpose but doesn't itself have any value. It is a good point but this is crypto and value could just be what investors/traders think they will gain from buying an asset and selling it later.
The investment then becomes simple: OMNI is now trading on Bitfinix. It is important for the crypto market which is reliant on USDT. It's extremely scarce. All we need is a small amount of trade volume generated from some traders who see green (dollars) and we could have a dramatic price rise. At the current price ~$2 just 1 millionUSD is required for 100% gain.
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.