Omicron cryptocurrency spikes over 900 pct in 2 days even as new Covid-19 variant hits Bitcoin prices

Omicron cryptocurrency which shares its name with the new Covid-19 variant has spiked more than 900 per cent in the last 48 hours, but investors need to be careful.

A relatively unknown cryptocurrency called Omicron (OMIC), which coincidently shares its name with the new Covid-19 variant, has spiked more than 900 per cent over the last 48 hours. Omicron’s OMIC token hit an all-time high of $689 on Monday morning, once again reminding us how weird crypto market and trading can be. The token was selling at just over $50 on Saturday but has now risen to $631.04, as per CoinGecko (at the time of writing).

The token shares its name with a new Covid-19 variant that was first discovered in South Africa on November 23. The World Health Organization named the fast-spreading B.1.1.529 strain after the fifteenth letter of the Greek alphabet. Interestingly, most cryptocurrencies have been hit with the emergence of this new Covid-19 variant. Both Bitcoin and Ethereum are in the red, while others have seen similar trends as well.