{"id":52762,"date":"2021-11-12T11:13:40","date_gmt":"2021-11-12T09:13:40","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=52762"},"modified":"2025-09-03T11:47:44","modified_gmt":"2025-09-03T08:47:44","slug":"omg-price-slides-after-snapshot-for-boba-network-airdrop","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/omg-price-slides-after-snapshot-for-boba-network-airdrop\/","title":{"rendered":"OMG price slides after snapshot for Boba Network airdrop"},"content":{"rendered":"<p>The native utility token of the OMG Network sidechain (OMG) fell by more than 25% after the snapshot for the Boba Network project&#8217;s airdrop. The snapshot of OMG holder wallets was taken on November 12 at 3:00 MSK.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">The <a href=\"https:\/\/twitter.com\/search?q=%24BOBA&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BOBA<\/a> snapshot time has passed\u2014now it\u2019s only a matter of time until you get a taste of <a href=\"https:\/\/twitter.com\/search?q=%24BOBA&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BOBA<\/a>!!<\/p>\n<p>L1 Ethereum Snapshot Block: 13597967<br \/>L2 Boba Network Snapshot Block: 15354<\/p>\n<p>We\u2019re excited kickstart our community <a href=\"https:\/\/twitter.com\/hashtag\/Bobarians?src=hash&#038;ref_src=twsrc%5Etfw\">#Bobarians<\/a> when the token drops next week, on Nov 19th.<\/p>\n<p>\u2014 Boba Network ($OMG) (@bobanetwork) <a href=\"https:\/\/twitter.com\/bobanetwork\/status\/1458948664395771906?ref_src=twsrc%5Etfw\">November 12, 2021<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Boba Network is a Layer 2 solution for the Ethereum blockchain based on <a href=\"https:\/\/u1f987.com\/en\/news\/what-is-a-layer%e2%80%912-solution-in-blockchain\">Optimistic rollups<\/a>. The project\u2019s creator is the Enya team \u2014 one of the main participants in the OMG Foundation. Holders of BOBA tokens will be able to submit and vote on proposals within the framework of the Boba DAO.<\/p>\n<p>Enya announced the BOBA airdrop on September 20. OMG holders on the Ethereum and Boba Network chains could participate, and it was supported by major crypto exchanges such as <a href=\"https:\/\/www.binance.com\/en\/support\/announcement\/ccb567574cb14c528b3e5e8e69752c6a\">Binance<\/a> and <a href=\"https:\/\/twitter.com\/SBF_FTX\/status\/1458961499733565443?s=20\">FTX<\/a>.<\/p>\n<p>At the time of the announcement, OMG traded at around $9.8. The excitement around the airdrop drove the asset price higher, accompanied by notable spikes in quotes. For example, on October 3 the token rose by 21%, and on November 4 by 25%. At its peak the asset traded above $20.<\/p>\n<p>Within an hour of the snapshot, OMG\u2019s price fell 25%, though the gradual decline had begun earlier\u2014in the evening of November 11. At the time of writing, the token was trading near $12.8.<\/p>\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"490\" src=\"https:\/\/u1f987.com\/wp-content\/uploads\/OMGUSDT_2021-11-12_10-48-31-1024x490.png\" alt=\"\u0426\u0435\u043d\u0430 OMG \u0440\u0443\u0445\u043d\u0443\u043b\u0430 \u043f\u043e\u0441\u043b\u0435 \u043f\u0440\u043e\u0432\u0435\u0434\u0435\u043d\u0438\u044f \u0441\u043d\u0430\u043f\u0448\u043e\u0442\u0430 \u0434\u043b\u044f \u044d\u0438\u0440\u0434\u0440\u043e\u043f\u0430 \u0442\u043e\u043a\u0435\u043d\u043e\u0432 Boba Network\" class=\"wp-image-155803\" srcset=\"https:\/\/u1f987.com\/wp-content\/uploads\/OMGUSDT_2021-11-12_10-48-31-1024w.png 1024w, https:\/\/u1f987.com\/wp-content\/uploads\/OMGUSDT_2021-11-12_10-48-31-300x144.png 300w, https:\/\/u1f987.com\/wp-content\/uploads\/OMGUSDT_2021-11-12_10-48-31-768x368.png 768w, https:\/\/u1f987.com\/wp-content\/uploads\/OMGUSDT_2021-11-12_10-48-31-1536x735.png 1536w, https:\/\/u1f987.com\/wp-content\/uploads\/OMGUSDT_2021-11-12_10-48-31.png 1834w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><figcaption>Hourly OMG\/USDT chart on Binance. Data: <a href=\"https:\/\/ru.tradingview.com\/symbols\/OMGUSDT\/\">TradingView<\/a>.<\/figcaption><\/figure>\n<p>The sharp decline in OMG quotes was entirely predictable, as investors typically lock in profits soon after a snapshot. Earlier, XRP <a href=\"https:\/\/u1f987.com\/en\/news\/xrp-price-falls-to-a-two-week-low-amid-upcoming-flare-network-airdrop\">fell to a two-week low<\/a> amid the forthcoming Flare Network airdrop.<\/p>\n<p>Back in December 2020, Genesis Block Ventures <a href=\"https:\/\/u1f987.com\/en\/news\/gbv-acquires-ethereum-sidechain-developer-omg-network\">acquired the OMG Network developers<\/a>.<\/p>\n<p>Follow ForkLog&#8217;s Bitcoin news on our <a href=\"\/\/telegram.me\/forklog\" target=\"\u201c_blank\u201d\" rel=\"\u201cnofollow\u201d noopener\">Telegram<\/a> \u2014 cryptocurrency news, rates and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The price of the OMG Network native utility token (OMG) fell by more than 25% after the snapshot for the Boba Network project\u2019s airdrop. The snapshot of OMG holder wallets was taken on November 12 at 3:00 MSK.<\/p>\n","protected":false},"author":1,"featured_media":52763,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1158,1891],"class_list":["post-52762","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-airdrops","tag-omg-network"],"aioseo_notices":[],"amp_enabled":true,"views":"19","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/52762","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=52762"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/52762\/revisions"}],"predecessor-version":[{"id":52764,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/52762\/revisions\/52764"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/52763"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=52762"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=52762"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=52762"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}