OmiseGO (OMG) and PAX Gold (PAXG) Go Live on Kraken

OmiseGO (OMG) and PAX Gold (PAXG) Go Live on Kraken

Kraken has announced two new listings on their platform, OmiseGO (OMG) and PAX Gold (PAXG) both of which go live today.

As we go into November, Kraken are staying true to their form over the last couple of months with yet more listings, following SIA earlier this month, after LINK, DAI, and ICX went live in September This is with the latest addition of these two latest tokens that have interesting concepts, past and perks for those who choose to invest in them. Let’s take a look at these latest additions to the Kraken trading platform, which will go live later today at 13:30 UTC (October 29th, 2019).

OmiseGO (OMG)

OmiseGo has certainly won the acronym lottery with their memorable “OMG” titled token. However, this is not the only element of OmiseGo that make them memorable to the general public and traders alike.

Launching in 2013, OmiseGo has carved out a multi-faceted financial service, that can help users, trade and store both crypto and fiat currencies, with a target market focused on the Asian market, one that after the events of the weekend certainly looks like a massively viable one at this moment in time.

The DEX and banking platform utilises what is known as “Plasma child-chain technology”, this software enables 4,000 transactions per second, which has the knock-on effect of providing fees that are 90% lower than those which you would incur on Ethereum. Furthermore, there is also an OmiseGo wallet. This can be used to digitise and store multiple assets, while also working as a node on the network and so it can also verify transactions.

The OMG token from OmiseoGo that will become available to trade on Kraken launched in 2017 via an ICO and raised a whopping $25,000,000. Several months later it had reached its all-time high of $28.35, currently, they sit at a much lower value of $0.81 each, with a market cap of $113,014,723, at the time of writing. Users interested can benefit from trading pairs OMG/USD, OMG/EUR, OMG/XBT, OMG/ETH on Kraken.

PAX Gold (PAXG)

PAX Gold is a lot different in terms of business model with a larger reliance on real-world assets, namely Gold, but relies on new-age technology. In a nutshell, they provide users “ownership of specific gold bars with the speed and mobility of a digital asset”.

Since 2012, they have offered users the perks of owning gold but removing the negatives elements involved with precious metal purchases that concerned storage or transport. Alongside these perks, it also provides protection from crypto volatility as it works in the same way as stablecoins do. With one token pegged to fine troy ounce (t oz) of a 400 oz London Good Delivery gold bar. These are stored in PAX Gold’s own storage unit. The PAXG tokens themselves though are Ethereum ERC-20 tokens. 

As you can imagine, the PAXG tokens are worth a lot as they reflect the price of gold and fluctuation is a lot lower. This is demonstrated by their all-time high of $1,559.06, which came just 4 days after the all-time low of $1,453.33, earlier this month on October 2nd, 2019.

Their current value is around $1,517.94, and there is 2,410 PAXG currently in circulation, a number that fluctuates based on the number of tokens that are in demand. Traders looking to get involved can do via trading pairs PAXG: PAXG/USD, PAXG/EUR, PAXG/XBT, PAXG/ETH

Both of these tokens are available on Kraken, Kraken Pro and OTC and will come available to traders in just a few hours. Head over to Kraken now to in order to be ready for when they go live.

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