InstaForex

October 5, 2021

OMG Network (OMG) Showcases Surprises, Bitcoin Shortcuts (BTC), Ethereum (ETH) & Cardano (ADA)

 OMG Network (OMG) has rightly recorded an incredible price increase since this performance was witnessed in early 2018.


Based on observations, these assets have increased almost 150% since early September.


In contrast to other major crypto assets in the same period: Bitcoin (BTC) failed to show encouraging movement, while the price of Ethereum (ETH) declined almost 15%. At the same time, Cardano (ADA) and Binance Coin (BNB) declined 25% and 12%, respectively.


OMG not to be outdone also jumped earlier this year along with other cryptocurrencies to reach $ 13 following its listing on the Coinbase exchange platform.


Despite declining around $ 3, the lowest price witnessed since July 20, OMG bounced back to its daily highest price level, $ 18.2 last night before declining nearly 8% to $ 16.7 at the time of this writing.



The OMG movement still maintains an uptrend with a jump of over 451% since July 20th.


Factors that attract investors' interest in this network can be detailed into two aspects:


Launch of layer-2 solution, Boba Network mainnet.

OMG owners are eligible to join the Boba token airdrop.

Boba Network is an Ethereum layer-2 project developed with the goal of reducing gas costs, increasing transaction revenue, and further expanding smart contract capabilities.


In addition to OMG, Polygon (MATIC) also displayed positive movement with a record of active users on the network successfully overtaking Ethereum.