After more than doubling in price over the past 7 days, OMG Network (OMG), the layer 2 scaling solution for value transfers on Ethereum (ETH), once again soared higher today after Tether (USDT) said it plans to support stablecoin transfers on the network.
According to a new announcement from Tether, the popular stablecoin is already live on the OMG value transfer layer, enabling reduced congestion on the Ethereum network, lower transaction fees, and faster speeds, “without compromising on-chain security.”
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