{"id":347172,"date":"2021-10-02T00:05:00","date_gmt":"2021-10-01T21:05:00","guid":{"rendered":"https:\/\/en.buradabiliyorum.com\/omg-eyes-a-new-all-time-high-after-unveiling-its-boba-network-layer-2-solution\/"},"modified":"2021-10-02T00:05:00","modified_gmt":"2021-10-01T21:05:00","slug":"omg-eyes-a-new-all-time-high-after-unveiling-its-boba-network-layer-2-solution","status":"publish","type":"post","link":"https:\/\/buradabiliyorum.com\/en\/omg-eyes-a-new-all-time-high-after-unveiling-its-boba-network-layer-2-solution\/","title":{"rendered":"# OMG eyes a new all-time high after unveiling its &#8216;Boba Network&#8217; layer-2 solution"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_85 counter-hierarchy ez-toc-counter ez-toc-custom ez-toc-container-direction\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<label for=\"ez-toc-cssicon-toggle-item-6a303a6ced5a1\" class=\"ez-toc-cssicon-toggle-label\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #dd3333;color:#dd3333\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #dd3333;color:#dd3333\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/label><input type=\"checkbox\"  id=\"ez-toc-cssicon-toggle-item-6a303a6ced5a1\" checked aria-label=\"Toggle\" \/><nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/buradabiliyorum.com\/en\/omg-eyes-a-new-all-time-high-after-unveiling-its-boba-network-layer-2-solution\/#Enya_and_the_Boba_Network_back_OMGs_progress\" >Enya and the Boba Network back OMG&#8217;s progress<\/a><\/li><\/ul><\/nav><\/div>\n<p>&#8220;<strong># OMG eyes a new all-time high after unveiling its &#8216;Boba Network&#8217; layer-2 solution  <\/strong>&#8221;<\/p>\n<div class=\"post-content\" data-v-128018ef>In September the frenzy that propelled the nonfungible token (NFT) sector quieted down but a burst of fresh energy emerged as the layer-two sector heated after the successful launch of Ethereum (ETH) scaling solutions like Arbitrum and Optimism.\u00a0<\/p>\n<p>Another project that has benefited from the sector&#8217;s transition to layer-1 and layer-2 alternatives is OMG Network (OMG), a non-custodial layer-two protocol that utilizes an optimistic rollup scaling solution to improve Ethereum scalability. <\/p>\n<p>Data from Cointelegraph Markets Pro and <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/www.tradingview.com\/\">TradingView<\/a> shows that after hitting a low of $8.42 on July 20, the price of OMG has climbed 380% to reach a daily high at $13.52 on Oct. 1 on a record $3.37 billion in 24-hour trading volume. <\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-09\/c176f758-0cf3-4cb7-b6e6-88732c138147.png\"><figcaption style=\"text-align: center;\"><em>OMG\/USDT 1-day chart. Source: <\/em><em>TradingView<\/em><\/figcaption><\/figure>\n<p>Prior to the market-wide pull-back that began in early May, OMG had been performing well in large part thanks to a Coinbase listing. A major development for the protocol came at the beginning of June when the project rebranded from OmiseGO to OMG Foundation as part of its pivot toward layer-two solutions. <\/p>\n<h2><span class=\"ez-toc-section\" id=\"Enya_and_the_Boba_Network_back_OMGs_progress\"><\/span>Enya and the Boba Network back OMG&#8217;s progress<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>A major part of the rebrand was to highlight the network\u2019s partnership with Enya, a company that creates decentralized infrastructure solutions and the creator of the Boba Network. <\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">1\/ The Layer 2 space is heating up. <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/optimismPBC?ref_src=twsrc%5Etfw\">@optimismPBC<\/a>, <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/arbitrum?ref_src=twsrc%5Etfw\">@arbitrum<\/a>,  <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/StarkWareLtd?ref_src=twsrc%5Etfw\">@StarkWareLtd<\/a> and sidechains like <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/0xPolygon?ref_src=twsrc%5Etfw\">@0xPolygon<\/a>.\u00a0We now have <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/bobanetwork?ref_src=twsrc%5Etfw\">@bobanetwork<\/a> The differentiating feature for Boba Network is fast transfers from Boba to <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/hashtag\/Ethereum?src=hash&amp;ref_src=twsrc%5Etfw\">#Ethereum<\/a> mainnet, which is not found in other rollups.<\/p>\n<p>\u2014 DeFi Info (@AboutDefi) <a rel=\"nofollow noopener\" target=\"_blank\" href=\"https:\/\/twitter.com\/AboutDefi\/status\/1428505970750095364?ref_src=twsrc%5Etfw\">August 19, 2021<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to the project\u2019s website, the Boba Network is a Ethereum layer-two optimistic rollup scaling solution aimed at reducing gas fees, improving transaction throughput and extending the capabilities of smart contracts. <\/p>\n<p>With Enya building the Boba Network as a core contributor to the OMG Foundation, the OMG token has benefited from its association with the launch of a new layer-two solution <\/p>\n<p>The rollout of the Boba Network, which rebranded from OMGX, began on Aug. 19 and closely tracked the rise in the price of OMG. <\/p>\n<p>VORTECS\u2122 data from Cointelegraph Markets Pro began to detect a bullish outlook for OMG on Aug. 16, prior to the recent price rise. <\/p>\n<p>The VORTECS\u2122 Score, exclusive to Cointelegraph, is an algorithmic comparison of historical and current market conditions derived from a combination of data points including market sentiment, trading volume, recent price movements and <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/social-mediaa\/\" data-internallinksmanager029f6b8e52c=\"1\" title=\"Social Media\" target=\"_blank\" rel=\"noopener\">Twitter<\/a> activity.<\/p>\n<figure><img decoding=\"async\" src=\"https:\/\/s3.cointelegraph.com\/uploads\/2021-09\/05e0492e-0d9a-40f7-9a3c-0e3a93ad5d01.png\"><figcaption style=\"text-align: center;\"><em>VORTECS\u2122 Score (green) vs. OMG price. Source: <\/em><em>Cointelegraph Markets Pro<\/em><\/figcaption><\/figure>\n<p>As seen in the chart above, the VORTECS\u2122 Score for OMG began to pick up on Aug. 16 and climbed to a high of 75 on Aug. 25, around 24 hours before the price began to increase by 100% over the next three weeks. <\/p>\n<p class=\"post-content__disclaimer\">The views and opinions expressed here are solely those of the author and do not necessarily reflect the views of Cointelegraph.com. Every investment and trading move involves risk, you should conduct your own research when making a decision.\n<\/p>\n<p><template data-name=\"subscription_form\" data-type=\"markets_outlook\"><\/template><\/div>\n<blockquote><p><strong><span style=\"color: #ff6600;\">If you liked the article, do not forget to share it with your friends. Follow us on\u00a0<span style=\"color: #ff0000;\"><a style=\"color: #ff0000;\" href=\"https:\/\/news.google.com\/publications\/CAAqBwgKMLG0nwswvr63Aw\" target=\"_blank\" rel=\"nofollow noopener noreferrer\">Google News<\/a><\/span>\u00a0too, click on the star and choose us from your favorites.<\/span><\/strong><\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\">For forums sites go to <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/forum.buradabiliyorum.com\/\" target=\"_blank\" rel=\"noopener\">Forum.BuradaBiliyorum.Com<\/a><\/span><\/strong>\n<\/p><\/blockquote>\n<blockquote>\n<p style=\"text-align: center;\"><strong>If you want to read more <a href=\"https:\/\/buradabiliyorum.com\/en\/category\/news\/\" data-internallinksmanager029f6b8e52c=\"2\" title=\"News\" target=\"_blank\" rel=\"noopener\">News<\/a> articles, you can visit our <span style=\"color: #ff9900;\"><a style=\"color: #ff9900;\" href=\"https:\/\/en.buradabiliyorum.com\/general\/\" target=\"_blank\" rel=\"noopener\">General category.<\/a><\/span><\/strong><\/p>\n<\/blockquote>\n<p><span style=\"color: black;\"><a style=\"color: #ff9900;\" href=\"https:\/\/cointelegraph.com\/news\/omg-eyes-a-new-all-time-high-after-unveiling-its-boba-network-layer-2-solution\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8220;# OMG eyes a new all-time high after unveiling its &#8216;Boba Network&#8217; layer-2 solution &#8221; In September the frenzy that propelled the nonfungible token (NFT) sector quieted down but a burst of fresh energy emerged as the layer-two sector heated after the successful launch of Ethereum (ETH) scaling solutions like Arbitrum and Optimism.\u00a0 Another project&#8230;<\/p>\n","protected":false},"author":1,"featured_media":347173,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"fifu_image_url":"https:\/\/images.cointelegraph.com\/images\/1200_aHR0cHM6Ly9zMy5jb2ludGVsZWdyYXBoLmNvbS91cGxvYWRzLzIwMjEtMDkvYzk5MTEwYjctY2VlZS00YTRjLTk4OWItZGQyNDliN2MwZmRhLmpwZWc=.jpg","fifu_image_alt":"","footnotes":""},"categories":[1],"tags":[74867,88119,74863,74868,74891,95119,105688,116934,82639,76341,73785],"class_list":["post-347172","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-general","tag-altcoin","tag-altcoin-watch","tag-cryptocurrencies","tag-defi","tag-ethereum","tag-layer2","tag-markets-pro","tag-omg","tag-omisego","tag-scalability","tag-markets"],"_links":{"self":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/347172","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/comments?post=347172"}],"version-history":[{"count":0,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/posts\/347172\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media\/347173"}],"wp:attachment":[{"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/media?parent=347172"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/categories?post=347172"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/buradabiliyorum.com\/en\/wp-json\/wp\/v2\/tags?post=347172"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}