Cryptocurrency Called Omicron Is Up 137%, Even As the Crypto Market Tumbles Due To New Covid-19 Variant By The Same Name

After the World Health Organization (WHO) warned of a new COVID-19 variant named Omicron, the cryptocurrency market, Bitcoin (CRYPTO: BTC), and the traditional market went into a tailspin. Many crypto traders have had their positions liquidated as well. 

Amidst all this, a new cryptocurrency in the market, coincidently named Omicron (CRYPTO: OMIC), spiked by 137% in the last 24 hours. 

The token trades solely on Arbitrum One via SushiSwap.

The Omicron token is now worth $404, up 735% compared to its all-time low on November 17. 

Until now, $671,081 has been deposited within its protocols, which leads to breathless projected annual yields of 70,377% for stakers. 

According to the trading platform CoinGecko, 69% of users feel good about the coin.

Related Link: South African Expert Say Omicron Symptoms 'Mild' So Far; World Health Organization Urges Caution