Why ECOMI (OMI) crypto is seeing rally today?

Singapore-based ECOMI (OMI) crypto on 9 March is witnessing a good day in office with a rally of over 8% and a volume gain of 62%. The OMI crypto is a platform that allows users to trade in digital collectibles, which has been in a bearish phase for some time. This latest price gain would please its followers.

Dubbed as one of the popular tokens in the NFT space, the ECOMI, through its NFT marketplace VeVe, has caught the attention of the market participants as the platform allows them to collect entertainment and DC comics characters as digital collectibles.

Also read: 5 popular and frequently used Layer 1 cryptos 

The crypto has been making substantial gains with the announcement of its BitMart Exchange listing on 9 March, which seems to be one of the factors for its recent rise.

What will BitMart Exchange listing entail?

The BitMart listing will widen ECOMI’s market to more than 9 million users and through this, users can explore various services such as lending and staking, fiat on and off-ramps. The token listing announcement was made on 9 Marhc (Wednesday). This will allow the market participants to deposit their tokens on BitMart platform from 10:00 AM EST. It will open for trading on 11 March from 10:00 AM EST in the trading pair of OMI/USDT.

While the unverified accounts can only participate in trading activities, the withdrawal will require the completion of the KYC of the investor.

Co-founded by the trio of David Yu, Daniel Crothers, and Joseph Janik, the OMI crypto operates on the Proof-of-Reputation (PoR) consensus, which aims to be an extended version of the Proof-of-Authority (PoA) consensus.

Also read: How high will Bitgert (BRISE) crypto’s rally go? 

How is OMI crypto faring?

Ranked 216 on CoinMarketCap, the token is trading at US$0.004236 with a trading volume of US$8,197,503 over a day. The OMI token, at the time of drafting, was up by 8.27% with a live market cap of US$703,403,535 and 166,285,821,196 OMI coins in circulation.  

The rise would definitely be a welcome break for its users after weeks of a bearish trend. Whether the rally is just for a day or is a prolonged one, remains to be seen. It does showcase how volatile markets can get and why everyone should be careful about fake tokens, scams. It’s critical that as an investor you do your market research before taking any critical decisions.

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