This could be good or bad news depending on how you interpret it.
A small-cap cryptocurrency saw a surge of 716% this weekend, following the WHO’s designation of COVD-19 as the most dangerous.
Omicron demonstrates why names matter
Omicron (OMIC), which is a cryptocurrency that describes itself as a decentralized reserve money protocol on the Arbitrum Network was launched around noon on November 27th. It broke through resistance near $70, and rose to $187 in just half an hour.
The token’s price soared to $242 per day.
The brave people who refused to cash out following this incredible surge in interest saw their courage rewarded when each OMIC rose to trade at $430 per day.
Omicron Price Image: Coinmarketcap
The token fell to $260 at that point before reaching its current $367 level. It’s not bad for a cryptocurrency which shares its name with the sixth-deadliest pandemic ever recorded.
The Omicron (OMIC), unlike other projects, is about (un)fortunate coincidence. The Arbitrum Network’s early November saw the birth of the token as a fork Olympus.
Omicron Protocol is a way to guarantee a return over a period of time by creating a bond between bonders and stakers.
A few weeks later, however, the WHO named a new dangerous strain of COVID-19, after the fifteenth letter in the Greek alphabet. The markets went wild.
Covid-related Projects are not uncommon in the Cryptoverse
Similar events occurred in the early days with the Coronavirus, when people bought cryptocurrencies, NFTs and placed bets on the Coronavirus.
The COVIDPunks project is a COVID-themed Cryptopunks spinoff that has generated 1800 ETH in revenue. If that’s not enough, CryptoPunk 7523, an original Cryptopunk, was sold by Sotheby’s at 11,754,000 USD.
The NFT was dubbed by enthusiastic fans as the COVID Alien.
As long as money is available, speculators won’t hesitate to invest even if the project isn’t the most appealing.
Sushiswap is the best option to buy Omicron. There is currently no central exchange that supports cryptocurrency.
Please, don’t shout that you are happy to have Omicron, regardless of what happens.
Marla Brooks – Financial Analysis
My name is Marla Brooks, and I am the mainstream behind the”observednews.com” for the powerful and most delicate insights into the latest activities in the financial analysis category. I started my journey as an independent financial consultant. I had approximately nine years of experience in this field. I am free soul so; my passion for exploring the world has taken me to the nations across the globe and given me the chance to report for a portion of the best news associations. Currently, I am a full-time editor as experienced in finance and started to use my abilities.