The Omni Network tackles the problem of Ethereum rollups fragmentation by providing a solution for developers to build global applications. It ensures security through Ethereum’s foundation via EigenLayer restaking. However, the value of Omni Network has decreased due to an extended market slump.
Omni Network Price Prediction: Will OMNI Reclaim Its Peak?
The price of Omni Network’s OMNI token has seen a large drop recently. In just one day, its value decreased by approximately 44.6%. After its airdrop event, the Omni Network, which serves as a major blockchain foundation, underwent a significant price decrease, losing more than half of its market value. The previous day saw an all-time high for the OMNI token at $54.24, but it then experienced a sharp decline.
On April 17th, the launch of Omni Network, a Layer-1 blockchain, took place. In celebration of this event, an airdrop distributed 3 million OMNI tokens to eligible recipients. These tokens represented 3% of the company’s total token supply of 100 million. At the time of distribution, Omni Network boasted a market value of $560 million. By distributing these tokens strategically, Omni Network acknowledged and rewarded its early supporters, marking a strong debut in the crypto market.
The market value similarly decreased, falling by the same percentage to around $263 million. In sharp contrast, trading intensity significantly increased, with volume jumping by an astonishing 629% – corresponding to over $538 million worth of transactions.
Although the price of Omni Network’s OMNI tokens has dropped, there are still over 10 million circulating tokens in existence. This amounts to 10.39% of the total possible supply of 100 million tokens. The market value of all existing and potentially issuable tokens is approximately $2.5 billion.
Future Outlook: Potential Rebounds and Key Levels for OMNI
Omni Network emphasized its Ethereum alignment by restaking instead of the lavish burns common in the sector. On April 18th, their contract consumed more gas than Uniswap’s router, highlighting this method’s impact. Clique and Omni adapted their reward system to manage demand efficiently, ensuring smooth and economical transactions for their community.
Omni demonstrates Ethereum alignment through restaking
Others prefer demonstrating their alignment by burning a lambo worth of $ETH
— Omni Network (@OmniFDN) April 17, 2024
Should the positive market trend regain strength, Omni Network may once again touch its previous high of $54.24, and potentially surpass it, aiming for $100.
If it continues to hold up beyond this stage, subsequent progress might signal a robust recuperation, boosting investor trust and propelling the price towards the $100 mark.
If pessimistic views continue, there’s a risk that the $23.30 support could weaken, causing the price to fall even more.
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2024-04-18 17:40