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Cryptocurrencies: 12,885
Markets: 942
Marketcap: $ 2.10 T(0.32%)
24h Vol: $ 59.98 B
BTC Dominance: 48.13%

Osmosis Price Surges 24.5% as Trading Volume Hits $176 Million

Key Takeaways

Osmosis (OSMO) has seen a surge in its price over the past 24 hours, jumping 24.5% to hit $1.61. The 24-hour trading volume for OSMO reached a whopping $176 million as traders piled into the altcoin.

Price Action

As of December 27, Osmosis (OSMO) was priced at $1.61, marking a 3.26% increase over 24 hours and a 24.5% surge over the past week, according to data from [CoinMarketCap] (https://coinmarketcap.com/currencies/osmosis/).

The 24-hour trading volume for Osmosis reached $176,068,516. Osmosis is currently ranked #85 on CoinMarketCap with a nearly $793.74 million market cap.

Technical Indicators

The circulating supply of OSMO coins is 492.59 million out of a billion-coin max supply. Price support levels for OSMO are seen at $1.39, $1.21, and $1.00.

The Relative Strength Index (RSI) for Osmosis currently sits at 54, indicating moderately bullish sentiment. Osmosis’s trading price is above the 50-Day Exponential Moving Average (EMA) of $1.50, suggesting an upward trend.

However, chart patterns show an upward channel for Osmosis, but a bearish spinning top candle may indicate some weakness in the current uptrend.

Verdict

While Osmosis’s overall trend appears to be bullish, with the potential to test higher resistance levels in the near future, traders should exercise caution given the bearish signs on the chart.

Alternative Play: Sponge V2

Sponge V2 (SPONGEV2), another altcoin, is highlighted for its unique staking approach and Play-to-Earn integrations.

Key features of Sponge V2 include: Exclusive earning of $SPONGEV2 tokens through $SPONGE staking; Special bonuses for buying and staking $SPONGE; Passive income opportunities with staked $SPONGE yielding rewards starting at 40% APY.

Upon launch, the focus will shift to V2, with staked V1 tokens locked permanently. A limited number of Sponge V2 tokens are available: 16,461,035,615.

The article encourages readers to follow @SpongeGenesis on Twitter for updates.

Disclaimer

Crypto is a high-risk asset class and this article is not intended as investment advice. Readers should do their own research before making any investment decisions.

Full article on Althalla.com: Osmosis Price Surges 24.5% as Trading Volume Hits $176 Million

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