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Seeking Alpha 2021-11-29 18:32:28

Omicron tokens collapse after 1,000% short-lived rally as new variant fears abate

Omicron tokens (OMIC-USD), a small crypto that coincidentally has the same name as the newest variant of COVID-19, erase a large chunk of its 1,000% rally seen over the span of just three days. Omicron (OMIC-USD) is a decentralized reserve currency protocol that runs on the Ethereum (ETH-USD) network, Arbitrum. Of course, the short-lived rally started on the same day that the first case of the Omicron variant was found in South Africa, now spreading to countries around the globe, though the effects are being looked upon. On Oct. 26, OMIC tokens rose to about $75 per token from $65 from the prior day, and the following day it surged to around $255 to reach an all-time high of $711 later that day, according to data from CoinMarketCap. Ever since that record high, OMIC tokens are making lower highs, breaking down to as low as $160 per token, now changing

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