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OmiseGo (OMG) soars as major exchanges support $BOBA airdrop


OmiseGo (OMG) is on the rise as major crypto exchanges show support for the $BOBA Airdrop scheduled to take place on November 19.

In the last 24 hours, OMG has gone up by about 19% continuing with the bullish trend that started on July 19, this year.

The OMG price currently is edging towards $20 and the market will potentially have a strong support level.

What Is OmiseGo ($OMG)?

The OmiseGo network is an Ethereum-based financial technology that enables real-time, peer-to-peer value exchange and payment.

This network aims at helping users to transfer their ETH and ERC20 tokens at a cheaper and faster rate than the methods being used currently.

The ETH and ERC20 tokens can also be used as a utility token for fees when making transactions on the OmiseGo network.

What Is $BOBA?

$BOBA is a new token launched by the OMG Foundation to support the Boba Network.

According to BOBA Network’s website, BOBA is:

“An Ethereum Virtual Machine (EVM) compatible Layer 2 Optimistic Rollup that helps Ethereum smart contracts scale while delivering a delightful user experience.” 

It allows developers to build decentralized applications (Dapps) that can run web-scale code on server-less infrastructures like AWS Lambda, this helps create complex applications that could be nearly impossible on-chain.

The latest Airdrop announcement brought about publicity around this project and it’s a brilliant way to inspire community interaction on the project and also spread the word about it.

Why is $OMG soaring amid the $BOBA airdrop announcement?

The $BOBA Token Airdrop is now being supported by major exchanges like crypo.com and Huobi after the airdrop was announced.

The Airdrop is scheduled to take place on November 19 and to participate one must hold OMG token (s).

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