Odyssey is quickly making its name known in the cryptocurrency world. Odyssey has reached among the top hundred currencies in the world based on its market cap. The currency has moved to about $67 million, the highest total for the currency in a few weeks.
Odyssey is starting to become a more popular currency to trade. The currency is growing to new highs in its volume level. While the currency rarely gets into the eight-digit total in its volume, the currency has been trading at about $30 million in its volume in recent time, one of the highest totals the currency has gotten into.
The market cap has experienced a dramatic rise in its value. About a month earlier, Odyssey was valued at $23 million. The value has gone to nearly three times its value at $67 million. The currency had reached $76 million for a brief time period around the turn of the month.
However, the rise in Odyssey’s value is not as great as what had been experienced earlier in the year. The market cap was listed at $84 million in the middle part of May. This is the largest total that the currency has experienced since it was first introduced on the market in February of this year.
Understanding Odyssey
To see what makes this development so important, it helps to take a look at what makes the Odyssey cryptocurrency work as it does. Odyssey was produced by the oCoin Foundation through the support of oBike in accordance with TRON, a prominent blockchain protocol system group. The hard cap of tokens that were made available in the original ICO for the currency earlier in the year sold out within about two days.
The general intention of Odyssey is to produce a sharing economy that provides proper protocols for ensuring that content can be distributed accordingly. This includes having sharing work as a form of ownership of sorts. In this case, everything in an environment can be shared. All items may also be connected with one another through an extended network. More importantly, the data owned between the parties within the Odyssey network is produced freely to where all bits of content can be shared with each other.
Much of this is being supported by oBike, a bike-sharing operator based out of Southeast Asia. The design may be used for managing bike rentals in the region, although Odyssey is expected to expand to cover other services and functions throughout many parts of the world. This could potentially expand upon how well the currency is handled and what people can expect out of how this may be spent in any form.
The coins in the Odyssey chain would be produced by those who use oBike service. People have the opportunity to produce more coins as they use the services involved. Even then, the tokens themselves are not worth too much on the market. Each token is listed at 1.33 cents as of Wednesday evening. Also, nearly half of the 10 billion tokens that the currency has been capped at have been produced as of now.
