OMG Network (OMG) price surges by over 77%

OMG Network (OMG) has been the best performer of the past 24 hours, based on its price growth. The coin has seen a massive surge that allowed it to climb up to the 24th spot on the list of largest cryptos. Not only that, but its market cap is approaching $1 billion, while its trading volume has already exceeded $4 billion by an additional $200 million.

OMG Network in 2020

OMG did not see the greatest performance in early 2020, especially not compared to the current 77% price surge. However, prior to this major change, the coin's performance was more than decent.

OMG Network started the year with a price of $0.60, and as weeks went by, it started climbing up until it hit its peak at $1.36 on February 14th. This was a price increase of over 100%, which was rather good at the time.

Of course, after hitting this peak, OMG saw a price correction, alongside the rest of the market. Then, the March market crash took it down even further, resulting in a new low of $0.418.

OMG recovery and a new surge

Following the price crash, OMG started seeing slow but consistent recovery. It soon showed that it can be an excellent investment opportunity, and as it started surging around mid-May, many rushed to buy OMG Network's tokens.

The surge was relatively sudden and short, but it did a lot for the coin, allowing it to climb from $0.74 to nearly $2 in a matter of only a few weeks.

After that, it dropped to a support at $1.5. The coin made multiple attempts at growth, between mid-May and early August, but for the most time, it remained stuck between $1.5 and $2.

Then, on August 13th, the coin started seeing a surge that kept leading it up, and it progressed more and more. It briefly reached $8 before dropping down to $6, from where it kept progressing further up. The progression continues still, with the coin being up by 241% in a week, and its current price being at $6.59.

Conclusion

OMG price was rather decent in 2020, but it can hardly be compared to growth the coin has seen in the last week, which took it from $2 to $6.59.