Omni coin rose significantly by 8.74% on Monday, continuing to rise back from near 2-month lows. The coin gained 5.49% on Sunday, underlining the rising positive sentiment around its growth prospect. OMNI holders are certainly grateful that the coin has broken out of its three-week sideways movement,
Omni network has lined up a series of milestones in 2024. Key among these is the mainnet launch in the second quarter of the year, which is expected to actualize the project’s vision for interoperability. In the latest key development, Binance announced last week Friday that it had onboarded OMNI as the 52nd launchpool project on its ecosystem.
Led by a team of Havard University graduates, Omni runs a network with a capacity to process 50,000 transactions per second, more than the combined capacities of Visa and Mastercard. Furthermore, transactions are settled within 10 seconds. This is critical in the project’s mission to democratise access to financial services.
The launch of OMNI on the Binance Launchpool is a major milestone for the coin, as it will allow holders to farm OMNI tokens by staking BNB tokens and FDUSD over a period of four days. A total of 2.975 million OMNI have been set aside as rewards in the BNB staking pool, with the FDUSD pool having 525,000 OMNI rewards.
Furthermore, the token will be listed on Binance on April 17th, enabling it to be traded against major cryptocurrencies. In addition, KuCoin announced today that it has listed OMNI coin on its spot trading platform, where it has been paired against USDT. Listing in exchanges exposes coins to more investors, expanding opportunities for price movement. The current OMNI coin price prediction analysis are informed by these developments.
Technical analysis
The buying momentum on OMN/USDT favours control by the buyers, as shown by the RSI indicator. The upside will continue as long as the pair remains above the 0.00488 pivot. That could break the resistance at 0.00529. Furthermore, a continuation of control by the buyers at this point could propel further upward movement to test 0.00555. On the other hand, a move below the pivot mark will signal control by the sellers, with support coming at 0.00454. A continuation of control by the sellers at that point could break the support and create the momentum to test 0.00427 in extension.
