In recent cryptocurrency market activities, Osmosis (OSMO), a governance token for the Osmosis network, dipped slightly by 0.1% against the U.S. dollar to $0.53 or 0.00001439 BTC on major exchanges on Thursday. Despite this minor dip, it recorded a 7.9% increase over the past week. As of Thursday, Osmosis had a market cap of $259.93 million with $12.24 million traded in the last day.
Developed by Sunny Aggarwal and Dev Ojha using the Cosmos SDK and Inter-Blockchain Communication (IBC), Osmosis was launched on February 19th, 2021. It has a total supply of 587,378,721 coins and a circulating supply of 492,590,761 coins. The network facilitates cross-chain transactions with DAO-gated dApps under continuous development for a full-service cross-chain exchange. It uses an Automated Market Maker (AMM) protocol and serves as the governance token for the Osmosis network, allowing holders to vote on upgrades and allocate mining rewards.
Investors interested in trading Osmosis are advised to first purchase Ethereum or Bitcoin through exchanges such as GDAX, Gemini, or Coinbase (NASDAQ:COIN) before acquiring Osmosis.
On the same day, other cryptocurrencies showed mixed performances. KILT Protocol witnessed a significant surge of 27.6%, while Aidi Finance, Zoo Token, and CareCoin fell by 2.2%. OmniaVerse decreased by 13.4%, while Kitty Inu and Hokkaidu Inu increased by 1.9% and 1.2%, respectively. Lego Coin held its value stable; Jeff in Space decreased, and Lumi Credits increased.
In addition to its trading activities, Osmosis maintains an active social media presence with its official Twitter account (@osmosiszone), Facebook (NASDAQ:META) page, and official website.
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