Omicron Crypto Breaks Records & Shoots Up in Value by 945% After WHO Announces Name of New Covid19 Strain
A few days ago, the World Health Organization announced the name of the new and deadly coronavirus variant – Omicron. In a surprising twist, this announcement spiked the valuation of a relatively unknown cryptocurrency, which happens to have the same name.
One of the highest jumps of the year
The cryptocurrency token named Omicron experienced one of the most significant price increases of a whopping 954%, thanks to WHO’s naming the virus the same name. The crypto, which was priced around $65 prior to the announcement, skyrocketed to $711 during its peak valuation, shocking investors. The token is a bond-based yield farming project that’s built on the Ethereum blockchain.
As the South African virus becomes a leading cause of concern for healthcare professionals everywhere, its namesake crypto token is pleasing investors by supercharging their investments. The crypto’s value did take a dip to $272.68 mid-week. But as of writing, it is valued at $625.
Possible crypto bubble
The spike in Omicron crypto prices has also worried crypto investors, who think this may be the beginning of a new bubble. The token, which can be traded only through a decentralized exchange named SushiSwap, is currently one of the handful of tokens actually moving upwards in valuation. Just a few days ago, Bitcoin regained some growth at $57,500 – a good 9% more than the previous valuation of $53,800. Other cryptos continue to flounder in the uncertain financial market.
As the world grapples with managing the spread of Omicron, it seems its namesake token may be the only silver lining people can look forward to.
No comments:
Post a Comment