Osmosis Price Surges 60%To $1.33 On Neon Upgrade News – Buy OSMO Now?

Osmosis (OSMO) is trading with a bullish bias today after the price gained approximately 60% on Sunday to trade above $1.33. At the time of writing, the Osmosis price was up 14% on the day with a 24-hour trading volume of $100.2 million and a live market cap of $481.1 million, putting it at #79 on the CoinMarketCap list.

The positive rally started on January 1, 2023, with the bulls lifting the OSMO price off the $0.675 support floor, climbing almost 100% to Sunday’s high above $1.33. The recent rally is attributed to the network developers’ plans to perform an upgrade that will see the Cosmos Decentralized Exchange (DEX) become more efficient. 

Cosmos To Make Cross-Chain Trades More Efficient With Neon Upgrades

Decentralized exchange (DEX) Cosmos has revealed plans to perform its v14.0.0 upgrade dubbed ‘Neon.’ According to developers, the development bolsters the network’s plans to expand its product integrations and make cross-chain trading more lucrative for traders.

Decentralized exchange @Osmosiszone will conduct its v14.0.0 upgrade, called “Neon,” in line with a broader plan to expand product integrations and make cross-chain trading more lucrative for traders. By @shauryamalwa.https://t.co/JKLitRRf5h

— CoinDesk (@CoinDesk) January 19, 2023

The upgrade, slated to take place at block height 7937500 on January 23, 16:00 UTC, will feature several key upgrades for Osmosis. Among the important features is the launching of geometric Time Weighted Average Pricing (TWAP) in Osmosis liquidity pools.

On January 23rd $OSMO will implement a new pricing mechanism: geometric TWAP (Time Weighted Average Pricing) in liquidity pools. (better price efficiency & more rewards)

Osmosis will soon integrate the (formerly Terra's) borrowing & lending Mars Protocolhttps://t.co/OAasG2DQxz

— Nagato ? (@NagatoDharma) January 19, 2023

Binance describes TWAP as a finance strategy usually employed to reduce the impact of a large order on the market by distributing the large order into smaller chunks and launching them at regulated intervals over time.

With this upgrade, protocols building atop Osmosis will be able to choose between two pricing mechanisms that will be value-adding for the protocol to provide “concentrated liquidity” to users. The design enhances the capital efficiency of using a decentralized exchange together with improved rewards for liquidity pools.

Liquidity pools (LPs) are tokens that a user supplies to a decentralized exchange. In return, the LPs incentivize the users by making them liquidity providers eligible for a share of transaction fees and free tokens.

The upgrade would also ensure that pricing becomes more efficient while at the same time preventing liquidity attacks by using upward price manipulation. Noteworthy, in the past, this kind of price manipulation led to hackers executing a $100 million heist by manipulating decentralized exchanges.

Will OSMO Price Reach The $2.o Listing Price?

Since the new year, the OSMO price has been recording higher highs until January 15, when sellers entered the market with force, losing some of the gains made in the last two weeks. However, the bulls managed to recover the market and are now targeting new record highs.

At the time of writing, OSMO price was trading at $0.97 as bulls built on Sunday’s gains with a focus on pushing the DEX token higher. An increase in buying pressure from the current position could set the path for the Osmosis price to tag the resistance at $1.34, which was last tested on December 10.

In highly ambitious cases, Osmosis could rise above the said level clearing the way for a return to the price at which it was listed on Binance of $2.0 or higher to record new all-time highs. Such a move would represent a 95.25% increase from current levels. 

OSMO/USD Daily Chart

The up-facing 50-day simple moving average (SMA) and the upward movement of the Moving Average Convergence Divergence (MACD) indicator just above the zero line show that more buyers are coming into the market, and OSMO prices could increase. In addition, the OSMO price was sitting on robust support offered by the 50 SMA at $0.81, adding credence to the bullish outlook.

If buying pressure reduces and bears take charge, OSMO price could drop towards the critical support offered by the 50-day SMA and, in extreme cases, drop further to tag the swing low at $0.675.

Meta Masters Guild – The Fastest Growing Play-to-Earn Guild of 2023 Surpasses $1M In Presale Stage 1

Meta Masters Guild is set to become the largest mobile gaming guild in Web3 this year and beyond, delivering fun and addictive games with playable NFTs, where community members earn amazing rewards, stakes, and trades.

MEMAG is the native token of the platform and is currently in the presale stage and recording excellent results. With on only a few hours left to stage two, the token has already raised upwards of $1,005,087.61 out of the $1,120,000 allocated for the first stage. Join the MEMAG presale now and enjoy the Play and Earn movement.

Hey, join the #MEMAG presale now and join the Play AND Earn movement! https://t.co/VqMrzRBRtM #crypto #presale #memag

— wongsugeh (@wongsug01) January 23, 2023

As the price is expected to increase to 0.013 USDT in the second stage, now is the best time to buy MEMAG at the affordable price of 0.01 USDT. 

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