OSMO rallied from $0.0329 to $0.1291 (≈290% in 24h, later near $0.0928) after a governance proposal suggested a merger with Cosmos Hub with a proposed conversion of 1.998 OSMO for 0.0355 ATOM. On-chain volume rose ~668% as traders front-ran potential conversion and leveraged the event. Prior July 2025 “Thirdening” supply cuts (33% emission reduction and doubled burn) tightened circulating supply and amplified the squeeze; key resistance sits at $0.22–$0.30 and the rally could reverse if the merger vote fails.

The summary reports a near-290% price surge and ~668% volume increase triggered by a concrete governance proposal specifying a 1.998 OSMO : 0.0355 ATOM conversion rate; prior supply reduction (July 2025 Thirdening) reduced emissions and increased burn, tightening supply; analysts note resistance at $0.22–$0.30 and risk of reversal if the merger vote does not pass.