Today, the price of the Thai cryptocurrency OMG rallied sharply to $ 4.4, causing many to puzzled, exclaiming OMG or Oh-my-god.
From the OMG / USDT price chart on Tradingview's website, OMG's price rose sharply today. It jumped from the low of $ 3.6, hitting an intraday high of $ 4.4.
OMG's price hit a record high of $ 4.4, a 15% gain from $ 3.6 in less than an hour.
The price is soaring this time This is expected to stem from the newly announced Genesis Block Ventures (GBV) acquisition of OMG Network yesterday.
Genesis Block acquisition
Genesis Block Ventures (GBV), an investment firm affiliated with Genesis Block, recently announced its acquisition of OMG Network (OMG).GBV recognizes the need to develop DeFi or Plasma projects that do not yet support EVM, making DeFi real-world implementation difficult.But with OMG Network's 2-layer scaling solution, it can support thousands of ETH and ERC20 transactions per second, so GBV sees OMG ready for production in-house.
However, after the acquisition of GBV, OMG Network's goals will not change for the short term and OMG will continue to act as the network governance token. But this acquisition will allow OMG Network to further integrate with other partner companies to expand more use cases.
