Odd-looking OMG prices drop 33% after OMG Network completes Boba Network’s airdrop snapshot
OMG Network (OMG) price fell 33% from a daily high of $ 19.35 to around $ 13 shortly after a snapshot was taken for an airdrop by Boba Network.
A snapshot of all OMG wallets on Ethereum and Boba Network was taken this morning at 7:00 a.m. At the time of the snap shot, Hodler OMG receives BOBA, the governance token for BobaDAO on November 19.
Boba is a Layer 2 Optimistic Rollup Solution for Scaling Ethereum Smart Contracts developed by the Enya team as a key contributor to the OMG Foundation. Hodler Boba is entitled to submit proposals for the Boba DAO and to vote on them.
Boba network has tweets at 7:04 am this morning that the snapshot was taken at block 13597967 on Ethereum and block 15354 on Boba Network.
About ten minutes later, the 100eyes Crypto Scanner account posted a “Strange Activity Alert” about a severe price drop possibly caused by OMG holders trying to capture the “truth of sale” price action.
– 100eyes crypto scanner (@ 100eyesCrypto) November 12, 2021
Boba Network announced the airdrop on September 20 when OMG was around $ 9.5. The airdrop is part of a larger campaign to publicize Boba’s mainnet launch.
Since then, OMG has seen two significant price rallies from September 29th to October 5th to $ 16.76 and most recently on November 5th to a nearly 4-year high of $ 19.35. Since Boba’s announcement, analysts have been anticipating the higher price potential of OMG due to the increased interest in the Airdrop.
The top 10 crypto exchanges including Binance, Crypto.com, Huobi, Gate.io, Bitfinex, Binance.US and FTX support the BOBA airdrop for users.
OMG price has been in a slow uptrend since July 21, when it bottomed at a four-year low of $ 3.21.
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