Osmosis (OSMO) was one of the cryptocurrencies that attracted attention with its rise, while there was a dynamic day in the crypto money market. Why is OSMO, which has shown a serious rise in the last 24 hours, rising?
OSMO has gained about 20 percent in the last 24 hours, according to CoinGecko data. With this rise, OSMO has taken its place in the list of the highest risers. So why is OSMO rising? What is the reason for the rise in OSMO? Let’s try to find it together in this article.
Why is OSMO Rising?
Osmosis is the largest and most comprehensive decentralized exchange for most assets on the Cosmos Blockchain and works with an automated market maker. OSMO is a governance token for Osmosis. OSMO can be staked on the platform and used in the liquidity pool.
After the world’s leading crypto exchange Binance announced that it would list OSMO, there was a remarkable rise in the token. With this news, it suddenly increased by 33 percent, reaching the highest level in the last 5 months.
OSMO’s chart Source: CoinGeckoBinance will be listed in Binance’s Innovation Zone, the section reserved for risky and new assets, as OSMO can be more volatile than older cryptocurrencies. However, OSMO is not expected to be traded in any futures market.
