Over the weekend, a DeFi, or decentralized finance, token with the same name as the new omicron Covid-19 variant surged.
The Omicron token, which trades as OMIC, launched at the beginning of November, according to CoinMarketCap. It started to rally over the weekend, shooting up close to 1,000%, after the new variant was named.
OMIC hit an all-time high on Monday of $689, according to CoinGecko, but it’s now trading at around $324.
Cryptocurrency news often has a lot of hype. This is sometimes justified. But I myself prefer to trust more serious crypto-signals. If you intend to make good profits on a regular basis, then you should carefully study all the possibilities that your main crypto platform has to offer you. This will help you mitigate risks for different projects.