The Omicron (OMIC) token price rose by more than 900% after the detection of the new COVID-19 variant. On November 26, the World Health Organization (WHO) assigned it the name “Omicron”.
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The DeFi token Omicron DAO is issued on the Arbitrum One layer-2 protocol and trades on SushiSwap. According to Twitter, the asset launch took place on November 2.
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CoinGecko tracks its price since November 8, during which its minimum value was $48.36. The project’s Discord chat has a little over 800 participants, and Twitter followers barely exceed 900.
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On November 27 Omicron (OMIC) traded at around $65, and just two days later the price hit an all-time high at $689.12.
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As of writing, the rate had corrected to $580 (CoinGecko). The 24-hour trading volume amounted to $676,866.
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The surge in the coin price did not go unnoticed by the media. Forbes ran a piece, and the popular industry Twitter channel Mr. Whale wrote that such growth is a vivid sign of a bubble in the crypto markets.
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As reported, on November 26, the price of Bitcoin fell below $55,000 in light of the WHO’s announcement about the new COVID-19 variant. By November 29, the digital gold prices recovered to above $57,000.
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