Unknown cryptocurrency called “Omicron” showed a growth of 900 percent

(ORDO NEWS) — Global markets plunged last week on news of a new strain of the Omicron coronavirus, but one cryptocurrency of the same name, on the contrary, began to gain weight after the Greek letter entered the lexicon of investors.

On Thursday, Omicron cost about 65 US dollars. The unknown cryptocurrency rose in value almost tenfold from Friday to Monday morning to reach $ 688 and then plummeted as much as 75 percent, crypto tracker Coin Gecko reported.

The Omicron token, which the website describes as a “decentralized currency protocol backed by the Treasury,” traded at around $ 371 at 9.35 am ET.

It is not yet clear when the Omicron token was launched. By now, the cryptocurrency has recovered almost all of its losses, and the global markets on Monday took on a semblance of calm. Data on its price on Coin Gecko has only been available since November 8, while a telegram channel called Omicra was launched a day earlier.

The World Health Organization (WHO), which named the new COVID-19 strain Omicron on Friday, said there was a “very high” global risk of surges, although scientists said it could take weeks to understand its severity.

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