TL;DR Breakdown
- Omicron, a previously unknown crypto-token, rises after the Covid-19 variant was named Omicron.
- Experts speak of it as the peak of irrationality of investors after its rise.
- It can’t be bought with the exchange of bitcoin instead of fiat money.
The recent rise in cases of new coronavirus variants has led to an outcry in the world markets. It was the result of this variant that the last two weeks showed fluctuations in crypto prices. But what makes this case interesting is the emergence of a new coin named Omicron.
There is no clear information about when it was first introduced, but its first rise was recorded on 8 November. This currency became tradable on this date and saw a huge increase in its value. Its rise was more than 10x resulting from the rise in the new Covid variant.
Like other cryptocurrencies, Omicron is a decentralized currency that is backed by different assets. These include ones like OMIC, USDC, etc. It is also working in the domains of game theory and economy. At the time of its first appearance, its supply was 2,430. The price of Omicron as of 2 December 2021 is in the $335 range.
The crypto chart for this currency shows a rise in value, and for that reason, people are checking the Omicron price with plans to purchase.
The Rise in the value of Omicron
Some of the changes in the crypto market are unbelievable, and one of these is the rise of Omicron. Other currencies saw a depreciation in their value because of the identification and spread of the new Covid variant. The reason for the lowering of the value of the global market cap was people’s attempting to save their money in the form of dollars or other assets.
The one that remained resilient and growing was Omicron. An interesting fact about this coin is the emergence of its social media presence. Its owners have registered Omicron’s profile on platforms like Twitter, Facebook, and Telegram.
As mentioned above, the 10x rise in the value of OMIC indicates the investors’ tendency. Its rise and sudden depreciation meant that it might lose momentum. Despite speculations, it has remained steady after November and might attract further investment. The current market cap of Omicron is $355,349,137.85, which shows signs of further growth.
Where to buy the Omicron token?
Here is a brief overview of how to buy OMIC and where it can be availed. What we can see so far is through the following exchanges.
The first step is registration on an exchange that offers fiat-to-crypto services. The fee for this process might vary based on the exchange that you use. Once this money is deposited, it will earn you shares in the cryptocurrency of your choice.
The next step is exchanging that money for Bitcoin, which will be used for the plan ahead. You will own shares in Bitcoin, and these can be used for exchange with OMIC. Once this step is complete, you can use the shares in Bitcoin to earn Omicron. The options of purchasing bitcoin can vary based on the country where you are based.
The transfer of Bitcoin to another coin is done through an altcoin exchange. You have to trade bitcoin for the required altcoin, i.e., OMIC. Using this process, you can earn shares in the Omicron currency based on your choice.
Once you have purchased Omicron, you can now store them in a safe wallet, accessible and secure for fast trading. As there is a tendency for OMIC prices to surge up (and dip as fast), purchasing/selling it could bring benefits with the right timing. As the entire crypto market experienced a widescale sell-off, the Ethereum-based token was among the outstanding digital assets trading in the green zone.
Final Thoughts
The rise of Omicron from the new Covid-19 variant is dramatic and might see further enhancement. Anyone interested can buy it as it is available easily and perhaps, make a fortune. As there are chances of fluctuations, there is a need for proper considerations before making any final decision. As there is no certainty in this coin’s value, there are sporadic fluctuations seen in this case.
What’s funny about Omicron is that the virus gets lesser attention than the token. As with the original COVID-19, when solid data eventually arrives, many people will not pay attention or continue to dismiss or dispute it. They’ll stick to whatever narrative they feel is best for them. Sadly, this also includes those in charge of public health measures.
Exercise extreme caution, though. Although OMIC appears to have outperformed Bitcoin and Ethereum over the weekend, little is known about crypto, and there is not much data available. Some observers comment that the project can have malicious intent and be the same story as the Squid Game token.
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