Boba Network

Boba Network layer-2 solution deployment is the main reason behind OMG network’s new price rally

OMG is aiming to a new all-time high after the deployment of the Boba Network, a layer-2 solution. The Price of the OMG has reached $13.52 as of October 1 with a 24-hour trading volume of $3.37 billion.

The layer-2 solution has brought fresh energy to the NFT market after the successful launch of the Ethereum scaling solution Optimism and Arbitrum. The project which has benefited from layer-2 is OMG Network which is a non-custodial layer-2 protocol that uses the optimistic rollup to improve the salability of Ethereum. Boba Network deployment is getting the OMG to a new all-time high.

Boba Network layer-2 solution deployment:

In May 2021, the OMG network performed well despite the bearish market. The main reason was the coin’s listing on Coinbase. OMG, previously known as OmiseGo, changed its name because of the layer-2 solution. OMG has gained 380% since a low of $8.42 on July 2021. The current price of OMG is $13.52 with a daily trading volume of 3.37 billion dollars.

Boba Network
1-D Price chart of OMG
source: Tradingview

Boba Network is aimed to reduce gas fees, improve transaction speed, and increase the capability of smart contracts. Boba project, previously known as OMGX, is developed by Enya. The creation of the Boba project has helped a lot OMG in gaining price and stability in the market. The company believes that the differentiating feature of the Boba project is a fast transfer from Boba to Ethereum mainnet, which is not easy to find.

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About mnmansha

MN Mansha is a cryptocurrency expert, trader, and content writer with extensive experience in covering everything related to digital assets — from price analysis to Blockchain disruption. Mansha authored 100+ stories for and other fintech media outlets and he's actively writing more every day. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets.

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