OMNI is a DEX (pretty crappy one) and Colored Token platform (like Counter Party/XCP). Like XCP, it runs off Bitcoin Blockchain. Known tokens on its platform are Tether, Maid and Synereo. The original name was "Mastercoin" and then it became "OmniLayer" and then the creator left and started "Factom." The community consists of a small team and a few angry early adopters. Communications consist of vague bullet lists that resemble meeting minutes and are conducted weekly. The team seems to be incapable of getting anything done. The wallet is awful and runs server-side.
Thanks for letting me know it's moving, I need to unload some OMNI.
TL;DR It's junk.
LOL! Perfect.
UPDATE: I'm not seeing any relevant news or software updates that would provide any rational reasoning behind the increase. It's likely a pump and dump and based on experience, would stay away from this one for now. If anything, it should be crashing because the daemon that the wallet runs off is "offline for maintenance"
UPDATE 2: Wallet is working again.