Onomy Protocol (NOM) Coin Overview and Weekly Technical Review:

Lena Smith
Lena Smith Crypto
9 Min Read

This article centers around a thorough assessment of NOM coin’s technical and fundamental attributes using data obtained from www.coinmarketcap.com . Our NOMort aims to address vital inquiries regarding the projects associated with the cryptocurrency ; determining significant factors affecting its market value ; reviewing which are reliable exchanges for trading it  ; identifying traded currency pairs ; exploring assorted key metrics that demonstrate critical aspects of performance such as highest low price values attained among other essential economic indicators. We will also provide regular weekly graphical or technical analyses aimed at assisting potential investors evaluate feasible investment risks areas while identifying prospective profits.

What is Onomy Protocol (NOM) Coin?

The Onomy Protocol (NOM) coin is the native cryptocurrency of the Onomy Network , a decentralized cross-chain protocol for building and operating various DeFi (Decentralized Finance) applications .

Designed to facilitate seamless interoperability between different blockchain networks , the Onomy Protocol aims to overcome the limitations and fragmentation present in traditional financial systems . It enables users to access a wide range of decentralized financial services such as lending, borrowing, trading , yield farming, and more .

The NOM coin serves multiple purposes within the Onomy ecosystem. Firstly, it acts as a medium of exchange for conducting transactions on the network . Users can utilize NOM coins for paying fees or participating in governance activities where they have voting rights .

Additionally , NOM tokens play a crucial role in maintaining and securing the network through staking mechanisms . Token holders can stake their NOM coins to earn rewards while supporting network operations and consensus .

Overall , by leveraging its native cryptocurrency – NOM token – along with innovative cross-chain technology, Onomy Protocol aims to foster an inclusive and accessible DeFi ecosystem that empowers users with greater financial freedom and opportunities .

If you want to know more about the Onomy Protocol(NOM) coin , you can visit its website .

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The Onomy Protocol (NOM) coin is associated with several projects within the Onomy ecosystem . Here are some notable ones :

1. Cross-Chain Interoperability : One of the primary goals of the Onomy Protocol is to enable seamless interoperability between different blockchain networks. Through cross-chain bridges and protocols, NOM coin holders can easily transfer assets and data across various blockchains , fostering a more connected and inclusive decentralized finance (DeFi) ecosystem .

2. Decentralized Exchange (DEX) : The Onomy Protocol includes a decentralized exchange platform where users can trade their digital assets in a secure and transparent manner . NOM coin serves as an essential medium of exchange on this DEX, allowing users to swap tokens , provide liquidity , and participate in yield farming opportunities .

3. Lending and Borrowing : With its lending and borrowing functionalities, the Onomy Protocol enables users to access decentralized financial services using their NOM coins as collateral or for earning interest rates on deposited funds .

4. Governance Participation : As an integral part of the Onomy ecosystem, NOM token holders have governance rights that allow them to participate in decision-making processes related to protocol upgrades, fee structures , network parameters, and other important matters concerning the development and future direction of the platform .

These are just a few examples of how NOM coin is utilized within projects under the umbrella of the Onomy Protocol . By leveraging these initiatives, Onomy aims to create a robust DeFi infrastructure that empowers users with greater financial opportunities while promoting decentralization and accessibility .

Factors affecting price: 

The price of the Onomy Protocol (NOM) coin, like any other cryptocurrency , can be influenced by several factors . Here are some key factors that may affect the price of NOM :

1. Market Demand and Supply : The basic economic principle of supply and demand plays a significant role in determining the price of NOM . If there is high demand for NOM coins but limited supply available on exchanges , it can drive up the price. Conversely , if there is low demand or an excess supply of NOM coins in circulation , it may put downward pressure on the price .

2. Investor Sentiment : Investor sentiment and market psychology can heavily impact cryptocurrency prices. Positive news or developments related to the Onomy Protocol , such as partnerships , integrations with other platforms , or successful product launches , can generate optimism among investors and potentially drive up the price of NOM .

3. Overall Cryptocurrency Market Trends : Cryptocurrency markets are interconnected and influenced by broader market trends . Major events affecting cryptocurrencies as a whole—such as regulatory changes, macroeconomic conditions , or global adoption—can have a spillover effect on individual tokens like NOM .

4. Technological Advancements : Technological advancements within the Onomy ecosystem can also influence NOM’s price movements . Enhancements to scalability solutions , security measures, cross-chain interoperability features, or new use cases that attract more users to utilize NOM could positively impact its value .

5. Competition : The presence of competing projects in the decentralized finance space could affect investor interest in Nomcoin relative to other similar protocols’ tokens .

It’s important to note that cryptocurrency markets are highly volatile and subject to various external influences beyond these factors mentioned above . Therefore it is essential for investors to conduct thorough research and exercise caution when making investment decisions regarding cryptocurrencies like NOM .

Where can I buy Onomy ProtocolCoin (NOM)?

       Exchange              Pair                  Volume

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Onomy ProtocolCoin (NOM) Baseline Assessment :

The market cap of the Onomy Protocol(NOM) coin is $6.080.762  and its circulating supply is 39.300.208 units. Its maximum Supply is 138.918.823 units , with a fully diluted valuation of $21.494.346.

What is the high price point for Onomy ProtocolCoin (NOM)?

NOM Protocol(NOM) highest price is $1.32 recorded on Mar 20, 2023. The current price is -88.46% lower than the all-time high .

What is the low point of the price for Onomy ProtocolCoin (NOM)?

NOM Protocol(NOM)  token’s lowest price was $0.1414 on Jul 25, 2023.

Onomy ProtocolCoin (NOM) Technical Outlook:

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Onomy Protocol (NOM) coin, which was $2.31 on March 15, 2023 , dropped to $0.1419 on July 25, 2023. After consolidating at this level for a long time, it rose to the level of $ 0.6910 and increased by 241%, but it could not be permanent and regressed to the support point of $0.1549 . The price must hold above $0.2934 for the uptrend to begin . This region is both the fibo resistance level and the high volume region formed in the downtrend . The falling fibo levels can be followed as resistance in possible rises.

Our support is $0.1549, our sequential resistances are: $0.2934 – $0.4355 – $0.5992- $0.8245 – $1.2988 – $2.3169 Investment information comments, and recommendations contained herein are not within the scope of investment consultancy . The content, comments, and recommendations herein are not guiding but general . These recommendations may not suit your financial situation and risk and return preferences.  Therefore making an investment decision based solely on the information herein may not yield results that meet your expectations .

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I’m a freelance writer and journalist from Toronto, covering real estate, mortgage and personal finance for publications like Forbes, Money, Business Insider, Fortune, US News & World Report, The Motley Fool, CBS News, Hearst newspapers, The Balance, HousingWire, Money Under 30, Bankrate, Builder Magazine, Multifamily Executive, The Simple Dollar, CreditCards.com and more.
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