Omicron, a lesser-known cryptocurrency, has seen its value rise by more than 900 percent ever since the World Health Organisation (WHO), gave a new HTMLVID-19 variant that same name.
On November 27, the crypto token was valued at $65 (approximately Rs 4,883) and has risen steadily since. It reached a peak price of $689 on November 29 (approx. It reached a peak of $689 (approx.
The price of Omicron had dropped marginally to $612.67 at the time this report was written (approx. CoinMarketCap.
Omicron’s unprecedented rise in value is apparently due to Omicron being named after the potentially more dangerous coronavirus variant. This has been criticized online
The new COVID-19 variant was discovered in South Africa on November 23. On November 26, the WHO named the variant Omicron and classified them as a variant of concern’.
While other cryptocurrencies saw a drop in their value over the past week Omicron recorded an increase over the weekend. According to reports, the Ethereum-based cryptocurrency can currently only be traded on SushiSwap. This is a decentralised exchange.