Immediately after the completion of the BOBA Airdrop snapshot from the Boba network, the price of OMG Network plunged by 33% to $13 from a daily high of $19.35 .
BOBA token users have been looking forward to the snapshot to get tokens later this month, but their OMG tokens dropped by one third today
On Friday, a snapshot of all wallets holding OMG tokens on the layer-two Boba and Ethereum network took place at 12 am UTC. On Nov 19 the OMG holders are expected to receive BOBA that governs tokens for Boba DAO.
BOBA and OMG link
Boba helps to scale Ethereum smart contracts with the OMG foundation being the key determinant.
BOBA token holders will have a right to submit and vote on proposals for Boba DAO.
Boba Airdrop snapshot
At 12:04 am UTC Boba Network tweeted that the snapshot occurred at Ethereum block 13597967, and also on Boba Network block 15354.
Ten minutes after Boba network tweet, someone named “100eyes crypto scanner” tweeted about the price plunge citing that tit was caused by OMG holders trying to trade the news.
🚨 Crypto alert:[#OMG–#BTC] Bizarre Activity alert (15m)[#OMG–#USDT] Bizarre Activity alert (15m) pic.twitter.com/OnmfSltaGo
— 100eyes Crypto Scanner 🌐 (@100eyesCrypto) November 12, 2021
Boba Network announced the airdrop on September 20 as part of a larger campaign towards the launch of Boba Network mainnet.
After the launching of Boba Network Mainnet, OMG has saw an increase in the price to a four-year high of $19.35 on Nov.5.
Previously, analysts had predicted a higher amount of interest and prices on OMG after the Boba Airdrop announcement.
BOBA airdrop has a lot of support including from top crypto exchanges including Huobi, Binance.US, FTX, crypto.com, Bitfinex, Binance, and Gate.io.