The news of the Omicron variant shocked the stock and cryptocurrency markets, especially the Omicron coin, because it has the same name as the new variant, but the price has risen 10 times.
After the World Health Organization (WHO) decided on January 10 to name the first SARS-CoV-2 variant discovered, the price of a little-known digital currency called Omicron has risen 10 times. In South Africa and Botswana, it is Omicron.
Before the discovery of the Omicron variant, the WHO named variant B.1.621 using Mu (the 12th letter of the Greek alphabet) on August 30, 2021.
According to data from the cryptocurrency news website CoinDesk, the price of Omicron token (OMIC) was only $70 on November 26, but rose to nearly $700 on November 29.
Cryptocurrency experts believe that the sharp increase in the price of Omicron coin is due to the same name as the new variant.
CoinDesk stated that Omicron is a “decentralized currency protocol” built on the Ethereum blockchain.
The CoinDesk report emphasizes that it is “ridiculous” to increase the price just because it has the same name as the new SARS-CoV-2 variant of the Omicron coin.
CoinDesk also pointed out that Omicron is far from a “safe haven asset” for crypto investors.