The OMIC token has risen more than 900% since Saturday, reaching a high of $ 689. Its market value has skyrocketed to over $ 400 million. The cryptocurrency traded at $ 379.61 at 08:40 GMT on Tuesday, at $ 665.9 at 8:14 a.m. and then declined steadily throughout the day to reach $ 427 in the afternoon.
CoinDesk described the rise of the unknown token as an example of a “peak of irrationality” as cryptocurrency rallied because of its name. The coronavirus strain B.1.1.529 (Omicron) was named after the 15th letter of the Greek alphabet last Friday by the World Health Organization. According to experts, OMIC is far from being a safe tool
The OMIC coin is based on the scaling technology of the ethereum Arbitrum. The token was created as a branch of the OlympusDAO DeFi protocol. Behind each OMIC DeFi token is supposed to be a basket of tools that “gives it an intrinsic value that it can’t fall under.”
The total supply of cryptotoken is maximized at 1 million, which means that the Most of the tokens have not yet been mined or traded
Why the new virus mutant is named Omicron
WHO has identified the virus as SARS-CoV -2 and named the disease he caused Covid-19. The organization adopted the Greek alphabet naming convention for variants and strains of the virus by May 2021 to avoid the so-called “stigmatizing and discriminatory” practice of naming viruses according to their place of first detection
. However, Delta would have been followed by Nü and Kszi, but Nu could have been confused with the word “new” and Xi was skipped to “avoid stigmatizing a region”, as Xi is “a common surname” certain “. countries and WHO best practices for naming diseases suggest avoiding harassment of cultural, social, national, regional, professional and ethnic groups. “
(Xí Jìnpíng). Thus, many believe that the WHO is trying to divert suspicion from China.
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