Omicron Crypto Coin Surges Following New COVID-19 Variant Fears

Last week, the world got news of a new COVID-19 variant, named Omicron after the 15th Greek letter. While it’s somewhat understandable that people are panicking, over at the crypto world, one cryptocurrency is suddenly thriving. As the human race’s amazing leap in logic would have it, it’s a cryptocurrency that shares the same name.

Cointelegraph reports that one obscure cryptocurrency called Omicron shot up by over 900% in value. This happened following the World Health Organisation’s naming of the new COVID-19 variant. The crypto’s OMIC token was valued at US$65 (~RM274) on Saturday, and shot up to US$689  (~RM2907) yesterday.

Source: Pexels.

According to the report, the Omicron OMIC token started in early November as a fork of the OlympusDAO DeFi protocol. Considering it was established early in the month and the new virus variant was named at the tail end, the name is likely a coincidence. This is, of course, unlike the scam that was the Squid Coin. Not that it’s giving this one much legitimacy, as it can only be traded on one exchange known as SushiSwap.

Still, the fact that a cryptocurrency would shoot up so much in value because it shares the same name with a virus variant is baffling. But then again, so is the practice of buying 4D lottery numbers based on vehicles’ number plates, be they a new purchase or one that was caught in an accident.

(Source: Cointelegraph)

The post Omicron Crypto Coin Surges Following New COVID-19 Variant Fears appeared first on Lowyat.NET.