Omicron (OMIC) same name latest COVID-19 super variant hit an ATH of $689, spikes 900%

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Omicron is the name of the latest, most dangerous strain of COVID-19 that has just been discovered in South Africa. This is also considered one of the reasons why the market dropped sharply in recent days. But thanks to that, a relatively unknown cryptocurrency called Omicron (OMIC) has risen to an all-time high simply because it shares the same name with the new COVID-19 super variant.

Omicron (OMIC) spikes 900% after WHO’s name choice for the latest COVID-19 strain

OMIC hit an all-time high of $689 a couple of hours ago during the Monday morning Asian trading session. The move has added another 200% gains on the day for the token and a whopping 945% since Saturday when it was trading around $65.


Source: CoinGecko

Omicron (OMIC), a cryptocurrency that defines itself as a decentralized reserve currency protocol available on the Arbitrum Network, started giving joy to its hodlers around noon on November 27, when it broke through resistance near $70 rose to $187 in less than half an hour. And then, the greedy people who didn’t pull out after this incredible rate hike was rewarded with bravery after OMIC climbed to order $689 at its peak.

According to crypto critic Mr. Whale, the price spike signifies that things are in a giant bubble.

Something similar happened in the early days of the Coronavirus as people rushed to buy cryptocurrencies, NFTs, and coronavirus-related bets.

A clear example is the COVIDPunks project, a COVID-themed cryptopunks spinoff that has moved back to 1800 ETH. And if that doesn’t seem to be enough, a single original Cryptopunk, CryptoPunk 7523, was sold at Sotheby’s for $11,754,000. Enthusiasts call the NFT the COVID Alien.

And as long as there is an opportunity to make money, speculators will not hesitate to invest, even if it is not the most pleasant project in the world.

The bond-based yield farming project began in early November as a fork of the OlympusDAO DeFi protocol, but it shares no other connection to the virus aside from the name. If you want to buy some Omicron, the only option right now is through Sushiswap. There is no centralized exchange that supports cryptocurrencies.

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