Bittime - Omni Network distributed 3 million OMNI tokens, 3% of its total supply of 100 million tokens, to its community contributors on April 17th. However, this event caused a drastic drop in the value of the token by more than 55%, with the current trading price reaching $23.71.
Fake OMNI Token Price Collapse
Unexpectedly, fake OMNI tokens were discovered, the value of which fell by 100%. This fraudulent activity is a reminder for investors to be careful.
OMNI Airdrop Launch
Omni Network previously announced the launch of the OMNI token, marking a significant step towards decentralization. In their official blog, they introduced the Genesis staking program, where Genesis stakers will receive 6% APY and be eligible for airdrop distributions from partner protocols sent to the Omni Foundation.
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Price Drops After OMNI Airdrop
After the airdrop, the value of the OMNI token fell sharply by more than 30%, from $53.80 to below $39. The token value continued to decline in the following hours, reaching a low of over 55%.
Currently, OMNI is trading at $23.71, reflecting a loss of 55.9% in the last 24 hours. The token has a market cap of $246,382,326 and a 24-hour trading volume of $736,483,444.
On April 15, Omni Network revealed that 9.27 million OMNI, or 9.27% of total supply, was allocated for the public launch for the "launch and liquidity pool." Additionally, 29.5% of the tokens are set aside for ecosystem development.
The platform also plans to distribute 12,666,667, 20,063,333, and 3,250,000 tokens to the growth community, investors, and advisors, respectively.
There are fake OMNIs whose prices have dropped 100%
Crypto investigator PeckShieldAlert warns against fake OMNI tokens on Ethereum, the value of which dropped 100%.
According to their report, the spreader, identified as 0x2100A5…7bA3, dumped 1,769,800,761,000,000 OMNI for 132.08 WETH, equivalent to approximately $398,000.
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Here are some important points to remember:
- The price of OMNI tokens fell drastically after the airdrop of 3 million tokens.
- Fake OMNI tokens were discovered on Ethereum and their value dropped 100%.
- Investors should be wary of scams and always do their research before investing in cryptocurrency.
- Omni Network has allocated 9.27 million OMNI for public launch and 29.5% for ecosystem development.
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How to Buy Crypto from Bittime
You can buy and sell crypto assets in an easy and safe way via Bittime . Bittime is one of the best crypto applications in Indonesia which is officially registered with Bappebti.
To be able to buy crypto assets on Bittime , make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application.
Learn Complete Guide How to Buy Crypto on Bittime .
Monitor price chart movements of Bitcoin (BTC) , Ethereum (ETH) , Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.
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DISCLAIMER: This article is informational in nature and is not an offer or invitation to sell or buy any crypto assets. Trading crypto assets is a high-risk activity. Crypto asset prices are volatile, where prices can change significantly from time to time and Bittime is not responsible for changes in fluctuations in crypto asset exchange rates.
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