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Osmosis gets listed on Binance and soars 20%

Osmosis price spikes as Binance lists OSMO token in Innovation Zone.
| Cryptopress
Updated: October 31, 2022

CryptoPress

Only a few hours ago, Osmosis was listed on the popular cryptocurrency exchange Binance.
The value of their token has gone up by more than 21% because of this announcement.

CoinGecko lists Osmosis (OSM), a DEX developed by Cosmos, as the sixty-fourth biggest digital asset by market cap. At $8.50, it is still 86% behind its record high of $11.25 set in March. By mid-May, it had dropped below $2.00. The most recent price of OSMO was $1.57.

Some experts, like InvestorsObserver, have assigned Osmosis an extremely positive sentiment score rating in the previous five trading days. Osmosis’s five-day volume and price performance is quantified by the Sentiment Score.

Using the Sentiment Score, you may get a fast, short-term assessment of the cryptocurrency’s current value. Both short-term traders hoping to cash in on a rally and long-term buyers hoping to capitalize on a price drop might benefit from this.

Right now, the cost of Osmosis is higher than the point of resistance. Osmosis is in a precarious position, with support around $1.23 and resistance at $1.28, in the event that the current upswing loses momentum.

Osmosis is now trading close to its five day high of $1.57. Price is up 17.83% from its five-day low of $1.11 and down 0.38% from its five-day high.

Recent trading in Osmosis has been slow. This signifies that the volume today is much lower than the volume over the previous seven days.

What is a DEX?

A peer-to-peer (P2P) marketplace is what’s known as a decentralized exchange (DEX), and it links people who want to purchase and sell cryptocurrencies. When a user does business on a decentralized exchange (DEX), they retain ownership of their private keys. This is in contrast to centralized exchanges (CEXs), which hold users’ funds in escrow until the transaction is completed.

© 2022 Cryptopress. For informational purposes only, not offered as advice of any kind.

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