Cryptocurrency Somnia (SOMI) Activates Mainnet - Key Insights on the Launch Event

Somnia, the innovative blockchain platform designed for entrepreneurs and start-ups seeking sleep solutions, officially launched its mainnet on September 2, 2023. The launch was supported by major centralised exchanges, including Binance and Bitget.

The mainnet launch was met with a high traffic spike, causing the claims page to crash and resulting in Quill allocation issues. Additionally, the Remote Procedure Call (RPC) of Somnia was targeted by a DDoS attack but was successfully repaired within 30 minutes. These initial hiccups notwithstanding, the mainnet launch was deemed successful.

Somnia boasts impressive capabilities, claiming a throughput of over one million transactions per second and finality of less than one second, all with low transaction fees. The native token of Somnia, SOMI, has various uses, including governance, transaction fees, and validator rewards.

The crypto app offered by the Somnia website provides an easy and secure trading experience with advanced trading tools. The website's web trading platform offers pro charting, various types of order types, and a portfolio tracker.

Since its launch, SOMI's price has been moving inside a rising parallel channel and is currently at the bottom of that channel. However, early indicators suggest potential downside risks. The price could potentially experience a downside risk, with indications pointing towards a breakdown. If a breakdown occurs, the price of SOMI might fall to the horizontal support area at $0.45 or even reach a new all-time low.

It's important to note that the short-term price movement of SOMI remains uncertain. Caution is advised in crypto trading activities due to their high risk and volatility. Always do your own research and use cold cash before investing in crypto assets.

Somnia aims to compete in the decentralized finance (DEFI) and gaming sectors. The testnet of Somnia has completed more than 3.5 billion transactions, showcasing its robustness and scalability.

In the wake of Binance listings, price drops are a common occurrence shortly after launch, and SOMI's price movements suggest a similar pattern could occur. Crypto traders should exercise caution and make informed decisions based on their research and risk tolerance.

The Somnia crypto trading app is available for download on the Google Play Store and App Store. For those interested in exploring this innovative platform, the app offers an easy and secure entry point into the world of Somnia.

Cryptocurrency Somnia (SOMI) Activates Mainnet - Key Insights on the Launch Event