Omni Network Crypto Skyrockets as Derivatives Volume Hits $1.4B – Here’s Why Traders Are FOMOing In
Omni Network's token just went parabolic—fueled by a jaw-dropping $1.4 billion derivatives frenzy. Is this the next institutional darling or another overleveraged casino bet?
Behind the surge: Whale-sized derivatives action
Traders piled into Omni futures and options like Wall Street discovering a new fee-generating toy. The $1.4 billion volume stampede suggests either:
1) Smart money positioning for a major protocol upgrade, or
2) Degens chasing the next 100x with margin they can't afford to lose.
The cynical take
Another day, another crypto asset mooning on synthetic demand—while the 'real economy' still runs on legacy rails. But hey, at least the volatility makes for great clickbait.
Binance Wallet support
While price is back at support levels around $4.00, OMNI remains one of the top gainers overall in the past 24 hours. A range of positive developments contributed to the upside action, among them an announcement by the world’s largest cryptocurrency exchange, Binance.
The exchange revealed new integrations for Binance Wallet, allowing users to access and stake coins via multiple decentralized applications. omni network is one of the top dApps Binance Wallet outlined support for, alongside others including Momentum, Aarna AI, Elderglade, Paintswap, Silo Finance, and Meta Pool.
New integrations are now live on #BinanceWallet!
Check out the newly added dApps: Momentum, Aarna AI, Sleepless AI, Gaia, Reva AI, Elderglade, Paintswap, Meta Pool, Omni, Silo Finance.
Discover them now! ⤵️
Omni Network integration means Binance Wallet users now have access to OMNI staking directly from within the wallet’s mobile app. Those who stake tokens to help secure the Omni Network have an opportunity to earn rewards at an annual percentage rate of 11%.
OMNI price spiked amid explosion in derivatives volume
Omni Network pumped hard in the last 24 hours.
But notable is the huge spot volume on exchanges – over $195 million on Binance and $238 million on MEXC. Also massive for the small cap token is the level of Leveraged trades it sported, with derivatives volume exploding exponentially to over $1.46 billion.
Per data from Coinglass, the open interest in OMNI jumped nearly +300% to $34 million.
However, as an analyst Wise Advice pointed out on X, funding hovered negative to suggest increased shorting as the price rose.
In this case, Omni Network has seen more than $5.69 million in 24-hour liquidations. About $3.35 million of this accounts for liquidated shorts, with $2.68 million in the past 12 hours coinciding with OMNI price skyrocketing.
