Omicron cryptocurrency has been on the rise since the WHO baptized the new variant of Covid-19 with the same name – archyde

Hitherto unknown, the digital currency reached nearly $ 700 on Monday morning, about ten times more than two days earlier.

Frantic activity around the Omicron cryptocurrency since the WHO decided to give this name to the new variant of Covid-19. While it was so far unknown and stable in recent weeks, the digital currency Omicron hit a high of nearly $ 700 Monday, November 29 morning, about ten times more than two days before, according to the specialist site CoinMarketCap. The name given on Friday by the World Health Organization (WHO) to the new variant detected in South Africa has probably exploded the value of this virtual currency, which was created in early November by an actor already present in the world of cryptoassets.

To facilitate public debates on variants, the WHO names them using the name of the letters of the Greek alphabet (alpha, beta, gamma, delta, etc.), which is more accessible to a non-scientific audience and which allows to avoid stigmatizing the country where this variant was initially discovered. On their site, the founders of the cryptocurrency Omicron make no reference to Covid-19. They explain hope that their assets “will be able to function as a currency capable of retaining its purchasing power regardless of the volatility of the market” .

On Monday, the value of the Omicron fell back to $ 152 before rebounding and stabilizing at $ 350 around 4 p.m. GMT (5 p.m. KST), according to CoinMarketCap, another five times higher than at the end of last week.

At the beginning of November, another cryptocurrency had experienced dizzying success, before collapsing: the “Squid coin” was created on the theme of the successful Squid Game series by anonymous people. From around $ 0.7 at its launch on October 21, the unit climbed on November 1 to $ 2,856, before falling to $ 0.003 the next day. Buyers also discovered that they couldn’t sell it and cash in on their profits, and the creators disappeared from social media.