OMG token had a pretty impressive week after increasing by 115% to reach the $3.65 price mark and a massive 30% pump in just 24hrs. The OMG market capitalization has increased by almost $275 million since this time last week.
During the black Thursday crash that happened around March, the price of OMG surged to almost 1,000% after it fell to an all-time low of $0.35.
OMG network is gaining from an independent wave of industry-wide development, says the research leader at BeQuant crypto exchange, Dennis Vinokourov.
Reports revealed that Testnet for Ethereum 2.0 development crashed a week ago.
Decentralized Finance, which has reached approximately $6 billion in valuation, has risen the activity of Ethereum, resulting in incredible transaction fees.
This is the first time that transaction fees have remained consistently high. The average transaction fee for Ethereum rapidly jumped from less than $0.10 early this year to about $3.40 at the moment.
Source: Coindesk
