A relatively lesser known cryptocurrency token named after the Greek letter Omicron saw its price surge more than 10 times in a matter of two days outperforming top digital currencies like Bitcoin and Ethereum, soon after the World Health Organization (WHO) named the latest Covid-19 variant of concern Omicron.
From Friday to Monday morning, the price of Omicron surged to $688 from less than $70 earlier.
Little is known about this decentralized finance project, and robust data surrounding the project is proving hard to come by. Omicron’s official website describes itself as a “decentralized currency protocol built on Arbitrum”.
A similar surge in prices was also witnessed with the crypto token SQUID following the popularity of Netflix show Squid Game despite there being no relation between the show and the currency.
The WHO is following the Greek alphabet to name significant Covid-19 variants, and the next Greek letter Pi also has a cryptocurrency named after it.