Omni Network's Wild Ride: 200% Surge Shakes Up Crypto Market

Hold onto your hats, folks! Omni Network just rocked the crypto world on Friday, with its native token skyrocketing a mind-blowing 200% and leaving the top 500 coins in the dust by market cap.

While Bitcoin (BTC) was busy breaking records above $118k, Omni Network (OMNI) decided to steal the spotlight. This altcoin, ranked 277 with a market cap just over $135 million, left its peers in the dust as its price shot up from a measly $1.53 to a whopping $5.40 on major exchanges.

Get this: the daily trading volume for OMNI went through the roof, surging over 6,000% to a staggering $971 million. That's some serious cash flow as investors chased those sweet, sweet gains.

Binance Wallet Jumps on the OMNI Bandwagon

Sure, the price might be chilling back at support levels around $4.00, but OMNI is still one of the hottest gainers in the last 24 hours. And guess what? Binance, the world's biggest crypto exchange, just threw some serious love Omni Network's way.

Binance dropped a bombshell, announcing new integrations for their wallet that let users access and stake coins through a bunch of decentralized apps. And you know what? Omni Network made the cut, joining the likes of Momentum, Aarna AI, Elderglade, Paintswap, Silo Finance, and Meta Pool on the list of supported dApps.

New integrations are now live on Binance Wallet! Check out the fresh dApps: Momentum, Aarna AI, Sleepless AI, Gaia, Reva AI, Elderglade, Paintswap, Meta Pool, Omni, Silo Finance. Discover them now!

With this integration, Binance Wallet users can stake OMNI right from their mobile app and earn some juicy rewards at an annual percentage rate of 11%. Talk about a sweet deal!

OMNI Price Goes Ballistic as Derivatives Volume Explodes

Buckle up, because Omni Network has been on a wild ride in the last 24 hours!

Not only did the spot volume on exchanges go through the roof - over $195 million on Binance and $238 million on MEXC - but this small-cap token also saw an insane amount of leveraged trades. We're talking derivatives volume exploding to over $1.46 billion. That's some serious action for a coin of this size!

According to Coinglass data, the open interest in OMNI jumped nearly 300% to $34 million. But here's the kicker: as Wise Advice pointed out on X, the funding rates were in the red, suggesting that more people were betting against OMNI as its price soared.

In the last 24 hours, Omni Network saw over $5.69 million in liquidations. About $3.35 million of that came from short positions getting wiped out, with $2.68 million in the past 12 hours alone as OMNI's price went parabolic. It's been a wild ride, and it's not over yet!