Why Osmosis (OSMO) & SATS Prices Are Skyrocketing Today?

Osmosis (OSMO) and SATS (1000SATS) have been dominating the crypto arena as prominent crypto assets extended declines. OSMO and 1000SATS recorded new 52-week highs on Tuesday, December 26, 2023. However, some investors seem to be looking for potential reasons that might have triggered the recent rally in these crypto prices.

What Induced OSMO And SATS Price Rally?

Osmosis, the network behind OSMO, registered a successful merger with Umee, a Cosmos network holding over $17 million in assets. This merger significantly boosted the OSMO price rally. The token experienced an impressive 614% rise from its all-time low recorded in October 2023, aligning with the merger’s strategic plans.

On the other hand, SATS is grabbing the eyeballs of crypto investors despite ongoing concerns about potential scams and other issues. It has been listed on various exchanges recently, which indicates a growing interest in the crypto space.

Also Read: Binance Adds BONK & 1000SATS Among Others To New Trading Services, Reversal Ahead?

OSMO And SATS Price Rally

OSMO registered a fresh 52-week high of $1.68 on Tuesday. Furthermore, the OSMO price surged by 6.45%, trading at $1.64 at press time. The OSMO market cap ascended by 6.42% to $809.17 million.

Moreover, the 24-hour trade volume saw an unprecedented spike as it skyrocketed by a whopping 287.01% to $161.55 million. Earlier this year, the crypto reached an all-time low of $0.2239 in October, recovering over 600% in value since. Moreover, in the past 30 days, OSMO’s value has increased by over 144%.

SATS emerged as one of the top gainers in the crypto market today. The SATS price gained as much as 22.60% in value as it traded at $0.0008402 at the time of reporting. Furthermore, the impressive 1-month returns stand at 34%. In addition, the crypto recorded a new 52-week high of 0.0009348.

As of writing, the SATS’ market cap stood at $1.7 billion, indicating a 22.79% increase. Whilst, the 24-hour trade volume depicted a huge hike in SATS demand in the market. The 24-hour volume soared by a massive 330.26% to $504.92 million.

The recent surge in SATS price is commendable considering it recorded its all-time low of $0.0004488 just two weeks ago on December 12, 2023. Since then, it has managed to gain over 872% from its lowest low.

Also Read: Crypto Price Prediction For December 16: XRP, OSMO, ICP