Osmosis Dex Soars 30% and Hits 4-Month High as Binance Goes Live with OSMO

Written by C, Fiona

Last updated: 2022-10-31

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Binance has listed the native token of Osmosis Dex, OSMO, in the Innovation Zone, a dedicated trading zone for new innovative tokens, with 7 new Osmosis trading pairs added. The OSMO price soared on the announcement, hitting a 4-month high.

Binance Listed OSMO Coin in Innovation Zone

Binance announced last week that the native digital asset of Osmosis was listed in the Innovation Zone, a special trading area dedicated to new, innovative crypto assets that might be more vulnerable to volatility than larger, established crypto assets.

Following the announcement, the price of Osmosis increased from $1.313 to $1.684 in a matter of roughly 30 minutes. The Osmosis crypto token went on to reach a 4-month high of $1.729 in subsequent hours, for a total daily change of over +30%.

Launched in June 2021, Osmosis is a decentralized exchange (DEX) project that uses the smart contract-powered automated market maker (AMM) approach to determine prices of digital assets, facilitate peer-to-peer (P2P) trading, and run liquidity pools. Built using the Cosmos SDK, the Layer-1 Osmosis blockchain allows developers to deploy customized AMMs by using various trading modules and Osmosis’ Proof-of-Stake (PoS) enabled on-chain governance.

Binance Users Can Now Trade OSMO with 7 New Trading Pairs

OSMO crypto trading on Binance commenced on October 28, at 10:00 UTC. Meanwhile, withdrawals for the Osmosis token was opened a day later, on October 29, at 10:00 UTC.

Binance has launched 7 new Osmosis trading pairs:

Spot trading: OSMO/BTC, OSMO/BUSD, OSMO/USDT
Cross margin: OSMO/BUSD, OSMO/USDT
Isolated margin: OSMO/BUSD, OSMO/USDT

Before trading Osmosis in the Innovation Zone, Binance users must first read the Terms of Use and complete a questionnaire to showcase they are familiar with the risk of trading potentially volatile crypto assets.

Osmosis Price Prediction: What’s Next for Osmosis DEX?

Despite recent positive piece of Osmosis news, the price of the DEX protocol’s native utility and governance token could see a gradual move toward the bottom in the upcoming months.

Osmosis price prediction algorithm shows that the OSMO price could drop by as much as 60% by early 2023. However, the future of Osmosis looks bright in the long term – OSMO could be worth of $2 by the second quarter of 2023 if the price prediction turns out to be correct.

At press time, Osmosis has a circulating supply of 282,000,000 OSMO and boasts a market cap of $474 million, ranking 74th on the list of largest cryptos by market cap.

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