While global markets plunged on the announcement of a new Covid-19 variant on Friday, the cryptocurrency industry is witnessing an unexpected surge.
Omicron isn’t just a variant, it’s also the name of a previously little-known virtual currency.
It’s been growing by leaps and bounds since the WHO classified the B.1.1.529 variant as “of concern” on Friday night and dubbed it “Omicron.”
The Omicron value has risen over 1,000% in three days, according to the Coingecko website. The curve steepened from Saturday mid-day and then the progression lasted all weekend before reaching a peak this Monday morning at dawn.
Omicron was then worth 755 US dollars, whereas it was stagnating at 65 before the WHO announcement.
Is Omicron crypto dangerous?
The currency, which was registered on October 25, is new. In fact, it was created before the appearance of the variant, and not afterward, by opportunism (as was the case with the crypto-currency Squid Game).
The news has simply put a spotlight on Omicron. According to specialized sites, it would not be a scam. However, it is not advisable to invest in this viral currency. Its sudden increase in value and purchasers could phish quickly.
“Omicron” is the fifth most-purchased token this November 29 on the popular crypto platform SushiSwap.
“It is precisely this sudden and uncontrolled increase that is dangerous,” writes Numérama, which warns about the risk of bursting this speculative bubble.
The progression seems to slow down already. The value of the cryptocurrency is going back down. “It seems likely that Omicron will return rather abruptly to the shallows of the market, once the spotlight has passed,” predict the market experts.