Cryptocurrencies experienced growth because of good news from South Africa that differs from the WHO’s statements about the danger of the new variant of the virus. A coin called Omicron was also up yesterday but was down today.

The World Health Organization, WHO, released information last Friday about a new strain of Covid-19, which was already circulating in South Africa and was potentially dangerous. Immediately – and coinciding with Black Friday – world markets fell, including cryptocurrency.

The information about the new variant, called Omicron, has worried many countries worldwide. According to recent news from the newspaper El País, the detection of contagions is multiplying in Europe, and there are new measures to stop the arrival of tourists.

However, the WHO confirmed on Sunday that they are unsure about the variant and how it impacts patients.

But, in addition, news came from South Africa that seemed to reassure the markets. According to the media of the African country, there is no reason to raise such a fuss since the strain does not seem to have too alarming symptoms. According to the BBC, the WHO alert is unjustified, BBC reports.

Likewise, the media added that Dr. Angelique Coetzee, president of the South African Medical Association, said that, so far, patients infected with the new variant of covid have presented very mild symptoms.

Omicron Coin

Another curious thing is how the name of this new variant of Covid generated impact on a coin, until little known, which is the same name: Ómicron (OMIC).

It is worth remembering that the WHO on Friday named the variant B.1.1.529 of the newly detected SARS-CoV-2 as Omicron, which is the name of the fifteenth letter of the Greek alphabet. It turns out that there was digital currency named like a letter of the Greek alphabet, and the price increased tenfold over the weekend. The coin was born in August this year and is ranked 3328 on their list.

OMIC is the native currency of the decentralized reserve currency protocol that shares the same name as the COVID variant. On Friday, it was around $ 70 and came to cost at least $ 700 on Sunday. But now that Ómicron does not appear to be a virus that would end humanity, crypto has dropped in price at a stroke in half, worth $ 369, according to data from CoinMarketCap.

Coindesk highlights that the rise of the token might represent the maximum irrationality of many investors that focused their attention on that cryptocurrency only because it is attractive to people and it shares the name with the new variant COVID.

The bond-based yield agriculture project Omicron gets based on Ethereum Arbitrum’s scaling technology. There is no relationship with the coronavirus, and OMIC is far from a safe-haven asset, the outlet highlights.

While the maximum supply of the token got limited to 1,000,000 OMICs, data providers such as Messari, crypto.com, and CoinGecko do not bring further details on the cryptocurrency’s market capitalization. Some observers see the OMIC as evidence of bubble-like conditions in the cryptocurrency market.

By: Jenson Nuñez

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