Omicron Variant Was Profitable For The OMIC Token

The Omicron variant was profitable for the OMIC token. OMIC went from $70 to over $700 in 2 days.

The incredible increase in OMIC, the own token of the decentralized reserve currency protocol, which has the same name as the new coronavirus variant Omicron, has attracted attention this weekend. Especially at a time when the cryptocurrency industry was in decline, OMIC, which increased 10 times, went from $ 70 to over $ 700 in 2 days. The increase of the token was cited by experts as one of the illogicalities and bubbles within the cryptocurrency industry. As it is known, there is a large audience that buys cryptocurrencies just because of their names and aims for big returns. This crowded group of investors is also investing in this token, which coincidentally has the same name with the new variant, for this reason.

OMIC Has Nothing To Do With The Virus

Omicron, a bond-based "yield farming" project, is built on Ethereum scaling technology Arbitrum, but the project has nothing to do with the coronavirus. The total supply of OMIC token is seen as 1 million on data provider sites, but there is not much information about the project on well-known sites such as Coinecko and Messari. Another noteworthy factor is that OMIC is not listed on any centralized exchange and can only be traded on the SushiSwap decentralized exchange. Speaking about the OMIC token, a project official said that those who want to stake have the advantage because the majority of the project's newly minted tokens are distributed to the users who stake. So while the price issue remains important due to increased supply, stakers' earnings increase thanks to automatically adjusted balances.