Coinbase Compensates ETH Users With OMG Tokens From 2017

OmiseGO is once again in the cryptocurrency news – today, we can see that one of the leading exchanges Coinbase compensates ETH users with OMG tokens from 2017. In recent years, Coinbase has expanded on its product offering which is now benefiting some long-term Ethereum (ETH) holders on the platform.

A screenshot shared on Twitter by Jordan Spende, the Chief Marketing Officer at the wallet management firm MyCrypto shows that Coinbase is now distributing OmiseGO (OMG) tokens to everyone who held ETH on the platform as of July 7, 2017. This was the day when a snapshot was taken on the Ethereum network for OmiseGO’s original airdrop, which Coinbase did not support.

Wow, @coinbase follows up and distributes OMG to users who didn't get credited for the airdrop in 2017. pic.twitter.com/auaFN2oZ8x

— Jordan Spence (@spencecoin) May 28, 2020

The screenshot published by one Twitter user states that Coinbase began supporting OmiseGO in May 2020, which is the reason why they now have decided to distribute the original tokens received by the exchange during this airdrop. Now that Coinbase compensates ETH users with OMG tokens, we can see that the exchange is trying to build a positive brand authority.

Meanwhile, OmiseGO launched on Coinbase on May 21, after being introduced on the professionally focused Coinbase Pro a few days earlier. The announcement by the popular exchange was made on May 14 in the Coinbase news – leading to a new rally in the price of the asset – which is how OMG surged by 190%.

Today’s news also comes on top of the decision of Binance.US (the US-based branch of Binance) to list OmiseGO on its platform today. Traders in the market did not seem to take much notice of the news surrounding OMG. However, at present, we can see that OMG is in a positive momentum and at a price of $1.61.

OMG is currently ranked at the 38th position on the total cryptocurrency market cap list. The price of the coin is still down by 31% in a year but the recent listings prove that OMG may get in bullish territory soon and post new yearly and all-time gains.

Meanwhile, the other altcoins in the market are performing with mixed signals of red and green, mostly because of the unknown territory that Bitcoin (BTC) is entering over the past couple of hours. Analysts are still trying to figure out whether the momentum behind the largest coin is big enough to breach the $10,000 mark.