ECOMI price prediction: Can ECOMI draw in crypto investors?

ECOMI’s OMI has a strong burn strategy and clear utility, but market volatility is biting

2D animated images of various DC superheroes                                 
ECOMI’s VeVe digital collectables platform includes an impressive array of superhero franchises – Photo: Shutterstock
                                

Contents

An overview of the ECOMI project

OMI is the GO20-standard utility token that powers the ECOMI digital collectables project and its associated VeVe application and digital showroom.

The Singapore-based company provides one of the largest collections of digital pop culture assets built on the GoChain network, with licensors ranging from Marvel and DC Comics to Coca-Cola and Citroën. ECOMI differs from NFT marketplaces such as OpenSea and Rarible, however, in that its digital assets are not interoperable with other wallets – its collectables exist solely inside the OMI wallet. 

ECOMI has also been criticised on social media – principally by Reddit users – for its inability to convert in-app tokens back into fiat currency, while the abundance of ‘bots’ snapping up entire collections is also a cause for consternation for some.

Despite these issues, ECOMI boasts a huge global user base, and by the end of January had completed its migration of the platform over to Ethereum’s layer-2 Immutable X protocol. In March, the OMI token went live on the Bitmark centralised exchange. Have these developments shaken up the ECOMI price prediction? Let’s have a look.

OMI tokenomics: the basics

Before assessing the ECOMI coin price prediction, let’s look at some key figures. OMI has a maximum supply slightly below 310.8 billion, with a current circulation of 264.3 billion. At the time of writing on 18 May 2022, the coin was trading at $0.001546, giving ECOMI a market capitalisation of $410.9m. 

ECOMI conducted a private presale and initial exchange offering (IEO) throughout 2019, when 20% of supply was made available. A further 40% is reserved as liquidity on the VeVe app, and 20% is held by developers, advisers and board members. The remaining 20% is reserved for business development endeavours. Vesting periods are in place for company tokens to prevent dumping.

ECOMI’s burn and buy-back strategy seeks to maintain deflationary pressure. The details are explained on its website, but in short, the equivalent value of primary in-app purchases is burned from the supply, contributing to scarcity. Additionally, 10% of company revenues from primary sales go towards purchasing OMI on the exchanges to keep in-app liquidity replenished.

OMI’s latest trading activity

OMI hit a new high of $0.013 on 19 March 2021, in the early stages of the 2021 crypto bull run. Since then, OMI has proved to be a volatile asset, with sharp upward price swings and subsequent corrections witnessed from July to October. Despite these corrections, the support line was consistently raised, from $0.001 in late June to $0.005 in late October 2021.

Trading activity picked up in January this year, with buying momentum lifting OMI just above the 20-day trend line for the first time since 2 January. On 18 January 2022, Ecomi completed the in-app migration of Omi, meaning any OMI in the VeVe app was on layer-2. The next day, the coin peaked at $0.0081, but has largely downtrended since.

Before considering a trade, potential investors should pay attention to market trends. With bitcoin continuing to witness selling pressure, the effects are likely to be felt across the altcoin space. Be cautious and never invest more than you can afford to lose.

Checking the forecasters

WalletInvestor’s ECOMI price prediction for 2022 is for the coin to remain around the $0.001 barrier. The site suggests the coin will be worth $0.0001 in five years’ time. 

Using 38 technical indicators, CoinCodex is 11% bullish over 89% bearish. The value of ECOMI is expected to decrease throughout May.

Turning to Gov.capital’s ECOMI crypto price prediction, we can see a 12-month OMI price target of $0.00997 and a five-year OMI price prediction of $0.0324. 

TechNewsLeader’s ECOMI price prediction for 2025 averages out at $0.007, the equivalent of a 352% return against the latest trading value.

Looking over a wider time frame, PricePrediction.net’s maximum ECOMI price prediction for 2030 is $0.038.

Please note that digital forecasters use preset algorithms to make Ecomi crypto price prediction estimates. External factors and fundamental analysis are not taken into account. While useful as a guide, these estimates do not constitute genuine financial advice.

FAQs

ECOMI proved volatile during 2021, and recent activity in the wider crypto market is placing downward pressure on altcoin prices. The Reddit community also has concerns over certain company practices.

Conversely, the platform has a large userbase, and some forecasters do expect gains, if only modest ones. It is advisable to conduct some additional research before reaching an investment decision.

Forecasters predict decent gains in the longer term, and more modest returns within a 12-month period. Bear in mind, however, that online price predictions do not constitute genuine financial advice.

It is advisable to conduct thorough due diligence on an Ecomi coin price prediction before placing an investment, including also reading the whitepaper, researching the team and checking social media. Always remember: cryptocurrencies are highly volatile assets and past performance is never a guarantee of future results.

Any decision to invest should be based on your attitude to risk, your expertise in this market, the spread of your portfolio and how comfortable you feel about losing money. Never invest more than you can afford to lose.

Further reading

The material provided on this website is for information purposes only and should not be regarded as investment research or investment advice. Any opinion that may be provided on this page is a subjective point of view of the author and does not constitute a recommendation by Currency Com Bel LLC or its partners. We do not make any endorsements or warranty on the accuracy or completeness of the information that is provided on this page. By relying on the information on this page, you acknowledge that you are acting knowingly and independently and that you accept all the risks involved.
iPhone Image
Trade the world’s top tokenised stocks, indices, commodities and currencies with the help of crypto or fiat
iMac Image
Trade the world’s top tokenised stocks, indices, commodities and currencies with the help of crypto or fiat
iMac Image