Coinbase plans to enable transactions involving Omni Network’s tokens on the Ethereum network, including their latest release called OMNI, by incorporating them into its platform.
OMNI To Trade Against BTC and USDT
According to the American crypto trading platform, OMNI trading is supported on its spot exchange, hence investors are advised to avoid sending the asset over other networks or risk losing their funds. Depending on whether liquidity conditions are fulfilled, trading of OMNI on Coinbase will commence on April 17.
In the coming weeks or months, it’s anticipated that traders can begin exchanging OMNI-USD pair options in stages. However, this depends on having a plentiful amount of the OMNI token in circulation. Additionally, OMNI will be tradeable against prominent cryptocurrencies such as Bitcoin (BTC), Tether (USDT), and Binance Coin (BNB).
A few hours prior to the announcement of Coinbase’s listing, Omni Network unveiled its new token in a historic moment for their community.
Coinbase will add support for Omni Network (OMNI) on the Ethereum network (ERC-20 token). Do not send this asset over other networks or your funds may be lost. Transfers for this asset are available on @Coinbase & @CoinbaseExch in the regions where trading is supported
— Coinbase Assets (@CoinbaseAssets) April 17, 2024
The Omni team has spent several years creating the token, which aims to significantly change the game for Decentralized Applications (DApps) via the Omni Network. This network is intended to unify various Ethereum scaling solutions into a single, seamless system. Essentially, it functions as a blockchain platform that facilitates smooth communication between Ethereum rollups.
After the introduction of the OMNI token, users could make claims and stake on our platform right away, allowing eligible wallets to receive the Genesis airdrop. Simultaneously, trading for the OMNI token began on Binance at 8 AM Eastern Standard Time.
Markedly, the trading of OMNI is restricted in certain jurisdictions that do not support the token.
Omni Network Bags Support From Ecosystem Players
Recently, Binance announced the addition of the Omni Network to its Launchpool. This makes Omni the 52nd project on Binance’s platform for nurturing promising initiatives. Through this collaboration, Launchpool gained access to 3.5% of the total token supply of 100 million, which helps increase circulation and adoption of OMNI effectively.
Similar to Coinbase’s announcement, Ether.Fi, a well-known liquid staking protocol, has revealed its backing for the Omni Network through a $600 million delegation agreement with its operators. This partnership intends to enhance the security and efficiency of the Omni Network.
After being listed on Coinbase, the OMNI token’s price has dropped by 22.43%, now at $5.28. This suggests significant market instability, with more downward than upward price movements.
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2024-04-17 17:51