MobileGo is one of the few altcoins that was not affected by the recent plunge in the cryptocurrency market. This token was in an upswing move even when Bitcoin (BTC), Ethereum (ETH) and other top coins were in shambles. MobileGo token, MGO is the fuel behind a gaming platform that was built by eSports. In the last 4 weeks the token has plunged incredibly exiting the top one hundred coins by market capitalization. However, MGO weathered down the losses like a mature currency finding a support at $0.36.
While the market plunged massively this week, MobileGo has been on a rise leading the recovery in the market. Although it is trading at lower levels compared to those of last week, MGO/USD is still out performing many. Bitcoin price, for example is trading in a resistance range above $5,600. Ethereum price, on the other hand, is locked bellow the critical level at $180. Ripple (XRP) has revamped the trend zooming above $0.5 to record gains of $8.76% in the last 24 hours.
MobileGo platform continues to set the pace for blockchain based gaming projects. The recent partnership with Xsolla was a great boost for the project. Users of Xsolla can now pay for services using MGO. Moreover, the listing on Bitfinex has kept the token in the green following investor sentimental change. At the time of the partnership with Xsolla, the chief executive, Aleksandr Agapitov:
“MGO will accelerate transformative opportunities for our community. Game developers will now receive their royalty payouts much faster, and owners of MGO will soon be able to engage in peer-to-peer match play and organize decentralized gaming tournaments in a way never before possible.” He continued “MGO is essentially the Bitcoin of the gaming industry, the most trusted cryptocurrency that Xsolla is making available to more than half a billion gamers today,” he added.
As mentioned before, the listing on Bitfinex opened up the token to a wider market, allowing the token to weather down the bear trend in the market. Besides, the support came after a gruesome voting exercise on Ethfinex; the decentralized exchange for Ethereum-based tokens recently launched by the Bitfinex. The voting on Ethefinex happens every two weeks to give users the ability to support tokens that should be added on the exchange platform. At the time of Bitfinex listing, the MobileGo team reckoned:
“Let us elaborate on why this is extremely beneficial for the investors. First, the listing on such a reputable exchange gives a profound boost to MGO’s reputation. Not only it will make the token more popular, but it will also increase its trustworthiness and investment appeal for the current and would-be investors. Second, it will attract new traders, which in its turn will raise the token’s trading volume, contributing to its liquidity. Third, ending up in the top three ranking and winning the listing on BitFinex helps MGO earn much wider recognition in the crypto community, in addition to giving its supporters a sense of shared achievement.”
At the time of press, MobileGo is trading at $0.441 following a 2.54% drop in a 24-hour period. The token value is down 3.91% against Bitcoin and 4% against Ethereum. It has a 24-hour trading of $12 million and a market capitalization that stands at $44 million. As per the data on CoinMarketCap, MobileGo (MGO) is ranked 111th in the entire market. The coin’s market capitalization has been declining in the past one month. Besides, MobileGo could not hold its position among the top one hundreds coins.