Omicron surges because of Corona new variant name hype

Omicron crypto-asset surged by around 800% after the WHO’s Name Choice for the Latest COVID-19 Strain. 

A few days ago, the Wall Street Journal (WSJ) published a report on the Corona new variant and that caused a sudden crash in the crypto market. So we can say corona is a new factor that is responsible for the dump of the crypto market. In the past, the crypto market crashed because of COVID 19 pandemic. But here the case is something new with Omicron ( asset & Coronavirus) 

The World Health organization chose the “Omicron” name for a new variant of the Coronavirus, which took birth in South Africa. This name is identical to the Omicron crypto asset. 

After the announcement of this new name by the World Health organization, the price of the Omicron crypto-asset surged by around 829% at the time of writing this article. 

Omicron surges because of Corona new variant name hype 1
Source; CMC

Omicron (OMIC) is a decentralized crypto asset deployed on the Arbitrum Network. This coin is giving a huge profit to its holders.

On 27 November a sudden pump took place and the coin surged from  $70 and rose to $187 in less than half an hour.

At the time of writing this article, the price of this coin is around $594. 

Here the most important and shocking thing is the coincidence that took place with the new name choice of WHO and the name of the newly launched coin. This coin is a forked coin that took birth during the fork of Olympus on the Arbitrum Network in the early beginning of November. 

Crypto space always needs a new trend 

At present, the crypto industry is not limited to crypto-only users. Every year and month of the history of the crypto industry owns a new trend and new concept. 

Recently, the COVIDPunks project grabbed huge attention in the crypto market. This project grabbed around 1800 ETH by volume. 

Read also: 2% digital services tax on UK crypto exchanges: Reports