A cryptocurrency by the name of Omicron has actually gone into the marketAs global markets fell recently on news of the new Omicron coronavirus variant, one cryptocurrency with the exact same name skyrocketed after the Greek letter got in the financier lexicon.The cost of the hitherto-obscure digital token, whose Twitter feed has little more than 1,000 followers, increased practically ten-fold from Friday to Monday morning when it hit $688, before toppling as much as 75 per cent, crypto tracker CoinGecko said.Omicron the token, which its site describes as a decentralized treasury-backed currency protocol, was trading at about $371 at 1435 GMT.On Thursday it deserved about $65.
The World Health Organization, which on Friday called the new COVID-19 alternative Omicron, stated as more nations reported cases it carries a extremely high worldwide threat of rises, although researchers have actually stated it could take weeks to comprehend its severity.Bitcoin suffered its worst day in two months on Friday, visiting more than 8 percent as financiers dumped stocks and other riskier possessions in favour of perceived safe havens like the dollar.It has actually since recovered almost all of its losses, with global markets getting a form of calm on Monday.From squid game to dogecoin, minor cryptocurrencies have this year gained from links to memes or web culture, tape-recording quick booms and busts while more traditional names such as bitcoin soar in appeal.
It was unclear when the Omicron token was launched.Data on its price at CoinGecko was only available from November 8, while a Telegram channel under the name OmicDAO was introduced a day earlier.Reuters was not able to reach anyone representing Omicron for remark.