OMG look at that red candleAfter spending the day as the top gaining crypto, the OMG Network takes a turn for the worse after a new crypto release goes awry.
- OMG describes itself as the first production-grade layer-2 Ethereum scaling solution, helping people move money on blockchain that’s faster, cheaper, and safer.
- The OMG token was Thursday’s top crypto gainer as fans waited excitedly to get given a new cryptocurrency called BOBA that can be used to stake rewards on the OMG network, but things didn’t go according to plan.
- The token plummeted 25% on Friday morning and exchanges saw a record number of inflows as people tried to get ahead of the “buy the news” trend.
Illustration by TradingView