OMG – the cryptocurrency that powers the price of the OmiseGO network is up 23% today, setting a new high of $ 19.53. Let’s see what the hype is and why people buy $ OMG
What is OmiseGo ($ OMG)?
The OmiseGo Network is an Ethereum-based financial technology for use in consumer digital wallets. OmiseGO enables peer-to-peer exchange and payment of value in real time.
In other words, the OMG network aims to help users transfer their ETH and ERC20 tokens much faster and cheaper than current methods. The $ OMG token is a utility token that can be used for fees when transacting on the OMG network.
Why is the price of OMG increasing?
The recent price hike comes amid the announcement of the $ BOBA Token Airdrop. In addition, the Airdrop is now supported by major exchanges like Huobi and Crypto.com, drawing a lot of attention to the project.
☑️ Remember, November 19 is our drop date! (Photo 12)
Visit https://t.co/Sd3B1GTaxa for more
– Boba Network ($ OMG) (@bobanetwork) November 3, 2021
The drop date is set for November 19 and will allow users to claim their share of $ BOBA. The details of the Airdrop a few conditions that must be met to be eligible for the Airdrop, one of which is to hold $ OMG.
What is $ BOBA?
For those who are confused, $ BOBA is a new token launched by the OMG Foundation to support the Boba network.
According to their website, $ BOBA is:
“An upbeat Layer 2 rollup compatible with the Ethereum Virtual Machine (EVM) that helps Ethereum smart contracts evolve while providing a pleasant user experience.”
In other words, it allows developers to build dApps capable of running web-scale code on serverless infrastructures such as AWS Lambda. This allows for the creation of complex applications that would otherwise be almost impossible on chain.
There is no doubt that Aidrop’s recent announcement has generated some hype around this project. Airdrops are a great way to encourage community interaction and to publicize a project.
Where to buy OMG?
The top 5 trades by trade volume for OMG are:
You can also buy OMG on the Crypto.com mobile app.
As of this writing, the OMG price is approaching $ 20. If the market manages to break through $ 20, it is possible that there is strong support at this level.
As always, this is not about financial advice, be careful when trading cryptocurrencies as the price swings can be astronomical.
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