Amidst a sea of red in the cryptocurrency markets on Tuesday this week, Ormeus Coin (ORME) coin lit up green to move into the top 250 largest coins according to market capitalization. The coin has gained over 130% over the past week as its price soared over the $1.5 mark to close at $1.72 this Tuesday. This rapid rise comes after the coin faced the recent crypto bloodbath that saw its price drop from a year to date high of $3.20 to below $0.7 last week.
Currently the coin is placed at a rank of 248 on Coinmarketcap with a market cap of $30,000,000 USD as at press time. The Nano cap coin trades on various cryptocurrency exchanges such as HitBTC and Cryptopia. The latter leads the daily volumes traded of ORME coin with over 90% of daily traded volumes on the site.
Ormeus coin (ORME) is developed by Ormeus Global, one of the biggest large scale cryptocurrency mining operators in the world. Ormeus Global backs the coin through the Ormeus Reserve Vault (ORV) through the proof-of-asset technology and developments through the smart contracts on the Ethereum blockchain. The founding developers of ORME are Liam Robertson and John Barksdale with a team of highly trained professionals from the blockchain industry backing the team leaders.
Expectations from OMER in 2018.
The development team is currently working tooth and nail to get the Ormeus coin ATM and Ormeus Debit card ready in Q2 of 2018, starting next month. In addition to this, the 60 Petahash protocol which was improved from 30 Petahash late last year, will be improved to 100 Petahash.
So far so good for Ormeus Global team as the company chalked off various milestones off its roadmap which includes the doubling 30 Petahash 60 Petahash in Q1 of 2018. The coin is expected to hit the $5 mark any time this year with developments in the smart contract and development of the wallet expected to be completed this year. The 100 Petahash will also be improved to 250 Petahash giving the coin even more transaction speed.
Ormeus Coin (ORME) is a digital currency that is backed by the Ormeus Global. This $250-million dollar mining operator uses green energy to mine and ORME is the token associated with the platform. Each of the 200,000,000 ORME tokens are backed cryptographically to a currency vault, Ormeus Reserve Vault (ORV) that is funded by the company. This provides kind of a gold standard to the ORME token. The network through, the PoA protocol ensures every entity in the validation process has no incentive to cheat or game the system. Developments are ongoing to develop the publicly visible reserve vault to be a decentralized autonomous organization (DAO).
One fun fact is ORME did not offer an initial coin offering as is seen with most of other cryptocurrencies. The coin was offered though public funding and angel investment to run its development costs. This will ensure proper developments are put in place before other investors are allowed to join the fray.
Ormeus Coin (ORME) is also working on artificial intelligence mining to give their users maximum benefits from mining. This will allow the platform to choose the best and most profitable coins to mine increasing the holder’s profits once coins and tokens are mined.
The Ethereum based token is written on smart contract technology hence transactions recorded on the ledger are publicly available and increases transparency as ORME token links to real world and digital assets. This makes the platform immutable decreasing fraud and hacking on the site.
The recent soar in prices may be a starting point for the coin as it aims the $5 mark in 2018 and as things go, Ormeus Coin (ORME) may finally reach the mark again.