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

Lemon users have reported some issues in operations with BBVA and Santander. From the company, they assure that they work with most of the banks.

Borja Martel Seward, CCO, and co-founder of the Argentine exchange Lemon Cash denounced through his Twitter account that two banks blocked or directly blocked the operations of the company’s clients.

In the publication through which he made the event known, Martel, details that first it was with Ualá and now also with Lemon and said they are dinosaurs that one day would be going to compete. Martel then tagged the chairman Pierpaolo Barbieri, CEO of Ualá, along with the phrase “Let’s go all together, baby!”

In the screenshots that the businessman revealed, you can see a message of conditional operation by the bank BBVA. Meanwhile, another image of the Santander bank app highlights a rare activity that cannot get carried out.

CCO said that seeing two users who had intermittent service with CVU is annoying because only a Few banks have problems. He also pointed out that while remarking that the most important thing for the firm is that users and the entire community should have the freedom to move money wherever they want.

The Central Bank of Argentina Has Exchanges in the Magnifying Glass

The situation that Borja Martel highlighted in social networks is a situation that has been happening for quite some time. At that time, The directive of the Central Bank of the Argentine Republic for traditional banks was way more strict with this type of companies to discourage the proliferation of those entities that do not desire to comply with the legal requirements of the sector.

Considering that Lemon has just launched a VISA debit card that works both in Argentina and abroad, it seems almost impossible to fit into the latter category of firms designated by the BCRA. However, its operations in traditional banks got harmed in the same way.

Same Situation in other South American Countries

Of course, Argentina is not the only country where conflicts of this style have happened between exchanges and banks. Colombia is another precedent for this type of problem, even when the problem would get resolved by 2022, as reported Jorge Castaño, head of the Financial Superintendence of Colombia.

During 2018, exchanges with activities in Brazil faced a similar situation. In addition to the closing of profiles, these companies also faced the dismissal of their complaint by the regulator. As in the case of Lemon in Argentina, Banco Santander was also one of many other entities that had taken this measure.

 By: Jenson Nuñez

Dorsey had been CEO of Twitter since 2015. Jack has nominated Parag Agrawal as the next CEO, and the company has already made the appointment.

After some rumors spread in the network, Jack Dorsey has made official his inminent exit from Twitter. In a farewell letter that appeared on Twitter this November 29, Jack assured his official resignation, leaving his job as CEO. It would mean that Dorsey would no longer get linked to any activity within the company.

In the transition, Jack has nominated engineer Parag Agrawal as the company’s new CEO and Bret Taylor as chairman of the board. In a statement, the company has already announced the appointment of both Agrawal and Taylor.

Dorsey commented in his farewell letter that he was going to serve on the board of directors until his term (in May next year perhaps) to help Parag and Bret in the transition. He also about not staying on the lead by claiming that Parag requires freedom to lead. Jack clarifies in his letter that the new CEO will give the company the direction it needs.

Jack served as CEO of Twitter from its founding in 2006 until he got replaced in 2008, still keeping his position on the board of directors. In 2015 he again assumed the leadership to date. Unlike the previous cases, on this occasion, Jack completely disassociates himself from Twitter.

In the absence of a statement on the matter, it is presumable that Jack will continue his work as CEO of the financial services company Square. Dorsey faced possible impeachment last year when Twitter investment firm Elliott Management reportedly sought a replacement for the current CEO on allegations that they did not see Dorsey serving as CEO for two companies in parallel.

The Challenges for the New CEO

For Dorsey, the new CEO of Twitter is the ideal candidate. He said Parag is curious, rational, creative, demanding, self-aware, and humble. He will lead with heart and soul.

Agrawal has been on Twitter for more than a decade and has served as CTO since 2017. On his appointment, the new CEO said they would continue to build on the foundation that Dorsey left behind and showed enthusiasm about being the new leader in the chair.

However, you will have to face some challenges, such as the recent bitcoin tipping feature within Twitter.

In mid-November, Ned Segal, Twitter’s CFO, commented that the company should not invest in bitcoin, claiming that it is a nonsense decision. This position contrasts with  Dorsey, who would have voted in favor of adopting this new technology.

This year Twitter moved more and more in the direction of adopting Bitcoin technology. There is also a Dapps and cryptocurrency development team currently within the company, created along with the recent BTC tip payment tool.

Parag, in this case, must set up a position to continue with the development of this technology within the company or give a resounding no. This information reveals that Jack, in his farewell letter, said that he would bring Parag freedom to lead.

By: Jenson Nuñez

Bitcoin and ether appreciation is around 8% in the last hours. Bitcoin improved its position on the appreciation of altcoins.

The cryptocurrency market experienced a recovery this November 29 with about USD 180,000 million in its market capitalization, after a rally in bitcoin and Ethereum this Sunday night. The registered boom could get associated with medical reports from South Africa related to the Omicron variant of Covid.

The information highlights that the symptoms of this new variant so far have been extremely mild.

Bitcoin went through a drop last Thursday that sent the price to a low of $ 53,572 this Sunday. However, fears that the new variant of Covid could lead to a new global wave of infection began to dissipate when doctors who gave the initial alert declared that they had registered milder symptoms than expected.

This information got stated to the BBC by Dr. Angelique Coetzee, the first to detect the Omicron variant.

Starting at 7:00 p.m. (UTC) on Sunday, after the clarification revealed in the media, a rebound took place and sent the price to at least USD 57,895 in a few hours. An appreciation of 8.07% subsequently took place after a moderate price pullback, with BTC now trading at $ 57,404.

The market capitalization of bitcoin reached a high peak that started from USD 1.01 trillion to USD 1.09 trillion, while the total market capitalization of cryptocurrencies increased by USD 181,764 million.

The total market value of cryptocurrencies, which reached a figure that circles $ 2.73 trillion at its highest point on Monday, fell to $ 2.56.For its part, the cryptocurrency of Ethereum (ETH) registered a subsequent growth in the last hours from USD 4,008 to USD 4,364, which represents a boost of 8.8%.

Bitcoin Gains Ground Against Altcoins

In the notorious push of the cryptocurrency market last October, bitcoin lost its position to altcoins concerning its market appreciation. According to an analysis studying the performance of the top 50 cryptocurrencies in the last 90 days, bitcoin ranked among the lowest appreciation as of September 20. Altcoins reached the so-called altcoin season on that date, in which at least 75% of cryptocurrencies outperformed bitcoin.

Currently, bitcoin’s performance has improved on this appreciation scale and is only surpassed by 50% of cryptocurrencies. Bitcoin gets ranked 22, with an appreciation of 26.3% in the last 90 days. ETH ranks in 20th place, with a 31.6% improvement in its return.

Since last November 10, when bitcoin marked its most recent all-time high, the maximum drop recorded until this Sunday was 22%. In mid-April, the most relevant correction of this year began, which was 56%.

By: Jenson Nuñez