September 30, 2022

Omicron (OMC) Cryptocurrency Spikes 716% After WHO’s Name Choice for the current COVID-19 Strain

2 min read

This might be great news or bad news – – depending on how you take it.

A small-cap cryptocurrency rose 716% over the weekend… … following the WHO’s naming of the most hazardous stress of COVD-19 after it.

Omicron Shows Why Names Matter

Omicron (OMIC), a cryptocurrency that defines itself as a decentralized reserve currency procedure offered on the Arbitrum Network, began offering happiness to its hodlers around twelve noon on November 27, when it broke through resistance near $70 and increased to $187 in less than half an hour.

From there, prices went wild, and the token reached a day-to-day high of about $242.

The greedy folks who didn’t squander after this fantastic surge of interest saw their bravery rewarded the next day when each OMIC reached trade on the order of $430 at its peak.

Price of Omicron. Image: Coinmarketcap
Price of Omicron. Image: Coinmarketcap From that point, the token fixed to a low of$260 prior to a further push to its existing $367. Okay for a cryptocurrency that shares a name with the 6th deadliest pandemic of all time.

Unlike previous tasks, the Omicron (OMIC) case is all about (un)lucky coincidence. The token was born in early November as a fork of Olympus on the Arbitrum Network.

The Omicron procedure plays with a relationship in between stakers and bonders to ensure a return over a provided period of time.

But a couple of weeks later, the WHO chose to name a hazardous and freshly discovered pressure of COVID-19 after the fifteenth letter of the Greek alphabet, and the markets went nuts.

Covid-related Projects Are no Strangers in the Crypto-verse

Something similar happened in the early days of the Coronavirus when individuals hurried to buy cryptocurrencies, NFTs, and location bets connected to the Coronavirus.

A clear example is the COVIDPunks job, a COVID-themed cryptopunks spinoff that has moved 1800 ETH in volume. And if that does not seem like enough, a single original Cryptopunk, CryptoPunk 7523 cost Sotheby’s for 11,754,000 USD.

Enthusiasts dubbed the NFT as COVID Alien.

And as long as there is any chance to generate income, speculators will not hesitate to invest, even if it is not the most pleasant task on the planet.

If you have an interest in buying some Omicron, the only choice for now is through Sushiswap. There is no centralized exchange with assistance for the cryptocurrency.

But please, whatever occurs, if the token keeps going up don’t state aloud that you’re pleased you got Omicron.