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OSMO Price Skyrockets 33% on Major Listing with ATOM Surging Too

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Fri, 28/10/2022 - 11:17
OSMO Price Skyrockets 33% on Major Listing with ATOM Surging Too
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It has been revealed that leading cryptocurrency exchange Binance will list OSMO token from the Osmosis project today. On this news, OSMO quotations rose by 33% at one moment, reaching their highest level in five months.

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Source: CoinMarketCap

In pairs against Bitcoin and stablecoins, OSMO will be listed in the Innovation Zone, a special section dedicated to innovative assets that have higher volatility and are therefore more risky. In addition to the spot market, OSMO will be available on the margin market, but it is not yet expected to appear on the futures market.

Osmosis itself is, on the one hand, the largest decentralized exchange for most assets on the Cosmos blockchain, and on the other hand acts as an automated market maker. OSMO is a governance token for Osmosis and is also the underlying asset in all of the major liquidity pools of the project.

At the same time, OSMO can be simultaneously staked on Osmosis and be available to the liquidity pool. Such superfluidity provides Osmosis with the deepest liquidity on Cosmos. This kind of utility, coupled with a limited supply, is a key aspect of OSMO's tokenomics.

ATOM also enriches on OSMO listing

Against the backdrop of OSMO's rise, the token's "big brother," ATOM, also pulled upwards, when it was up 9.4% at the time. The sentiment around Cosmos (ATOM) is generally positive but not without a fly in the ointment.

According to the last quarterly report, the number of wallets on Cosmos increased by 7.7%, but the number of transactions on the network decreased by 28.6%.

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