OMG tokens fall 30% with record exchange inflows on Boba Network airdrop

OMG Network, the 77th largest cryptocurrency by market cap, dips 30% as exchange flows hit record highs after Boba Network's airdrop snapshot, according to data from CoinMarketCap. Exchanges registered a net inflow of 5.7M tokens on Friday, which represent investor intention to sell, CoinDesk reports. As a result of free BOBA coins going to OMG holders, OMG tokens break down to levels not seen since October. Boba Network, a new layer 2 product co-created by blockchain developer Enya and OMG Network, announced a snapshot of balances held by OMG holders on the Ethereum (ETH-USD) network and the Boba Network, according to the company's tweet. The free BOBA tokens will be received on Nov. 19 of this year. Just two days ago, Bitcoin (BTC-USD) reached new all-time highs.