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 $BOBA Token Airdrop is now being supported by major exchanges like crypo.com and Huobi after the airdrop was announced.
☑️ Don’t forget, November 19 is our airdrop date! (Snapshot on the 12th)
🤝We have great exchange partners like @upbitglobal and @FTX_Official, make sure that your exchange is one of them to receive the airdrop
Visit https://t.co/Sd3B1GTaxa for more
— Boba Network ($OMG) (@bobanetwork) November 3, 2021
The Airdrop is scheduled to take place on November 19 and to participate one must hold OMG token (s).