Why did OMG crypto drop?

The dip was caused by the completion of the snapshot for an airdrop from the Boba Network . The snapshot of all wallets holding OMG coins on the Ethereum network and the layer-two Boba Network took place in the early hours of Friday.

The OMG Network (formerly OmiseGO) is a value transfer network for Ethereum and any ERC-20 token . It describes itself as the first production-grade layer-2 Ethereum scaling solution and aims to let people move money and a variety of digital values on the blockchain faster, cheaper, and without compromising on security.

Based on our price forecast, the OMG Network is a good investment . However, the crypto market is volatile, so users need to research well before they buy or sell OMG Network.

The OMG Network mainnet will eventually move to a proof-of-stake (POS) consensus system , which will allow users to delegate their tokens to validators. By staking their tokens to validators, OMG Network users will be able to earn additional rewards while improving the security of the network.