Two prominent cryptocurrency exchanges have announced their support for a newly launched Ethereum-based altcoin project. Coinbase, a leading US exchange, disclosed on the social media platform X that it will be adding Omni Network (OMNI) to its trading platform. The goal of the Omni Network is to integrate Ethereum’s rollup ecosystem into a unified network. Coinbase stated that trading will commence on April 17th, provided that there is sufficient liquidity. Once an adequate supply of the asset is established, trading on OMNI-USD trading pairs will be phased in. It is worth noting that OMNI carries Coinbase’s “experimental label,” which is assigned to tokens with higher risk and lower liquidity.
In addition, Binance, a prominent global exchange, previously revealed that it would be adding OMNI to its Binance Launchpool. This platform allows users to stake coins in order to farm new assets, with the token set to be listed for spot trading on April 17th. Binance has attached a seed tag to OMNI, indicating that it is a lower-liquidity project that may experience higher volatility compared to other listed tokens. Users who own assets with seed tags must pass quizzes every 90 days to demonstrate their awareness of the associated risks before they can trade the tokens.
The developers of the OMNI project describe it as an Ethereum-native interoperability protocol that facilitates low latency communications between all Ethereum rollups. They emphasize that Omni offers a secure, high-performing, and globally compatible architecture, presenting Ethereum as a single, unified operating system for users and developers.
As of the time of writing, OMNI is trading at $31.15, after experiencing fluctuations between a high of $53.81 and a low of $29.91.
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