Following a sharp daily price drop, market observers are watching whether a recent spike in OMNI's trading volume will have any effect on its performance trends.
OMNI price sees a sharp daily drop
OMNI's price fell
↘9%
over the last 24 hours and
↘11%
in the past 12 hours, bringing its price to $1.9555. This daily decline was more significant than the average
↗1%
gain for the Layer 1 category.
Trading volume increases but lags competitors
The price decline occurred as OMNI's own trading volume increased by
↗40%
. However, this volume growth was smaller than that of competing assets like STRK, which saw a
↗264%
surge in the same period.
Long-term performance trails similar cryptocurrencies
Over longer timeframes, OMNI has underperformed its Layer 1 category, with its
↘11%
monthly decline contrasting with the
↗118%
gain of category leader ICP. Over the past year, OMNI's price has fallen
↘80%
while the broader Layer 1 sector gained a weighted average of
↗34%
.