Omicron Cryptocurrency Pumps By 1000% as COVID 19 Variant is Named
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An unknown cryptocurrency Omicron has surged by more than 10 times following the announcement of a COVID variant with the same name
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After the World Health Organization listed Omicron as a variant for concern, the coin gained more popularity
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The omicron cryptocurrency is currently valued at $680, according to CoinMarketCap from $65 a few days ago
A little-known cryptocurrency has benefitted from the emergence of a new COVID 19 variant by sharing the same name with it.
Omicron cryptocurrency, an unknown token has jumped up by more than 1000% in the past few days after the World Health Organization listed the Omicron strain of coronavirus as a variant for concern.
The unknown crypto jumped from a price of $65 to $680 on November 28, according to CoinMarketCap.
Since then, it has lost more than half of its peak value, trading at $312 on Thursday afternoon, with a market capitalization of $312 million.
Omicron cryptocurrency ad maintained a steady price the week before, until the emergence of the viral COVID 19 variant.
Read also: Omicron Variant Was in Europe Earlier, Netherland reports
Experts stated that the rise of the coin was mostly due to the fact that it shared a name with the COVID 19 variant.
CoinMarketCap has however warned investors about getting drawn into buying the unknown cryptocurrency, stating that it may not be a worthwhile investment.
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