The new Covid-19 variant, which emerged in Africa, affected the crypto money markets along with the global markets.
While it is not yet known whether the vaccines are effective against the new variant, the presence of the variant in Europe has increased the anxiety even more.
While the question of whether this variant will cause new shutdowns is still on the agenda, the cryptocurrency called Omicron has risen over 500%.
We see that the project was listed on Coinecko about 20 days before the African variant was released.
It is considered that the project based on Ethereum’s success L2 protocol Arbitrum lives up to this hype due to the similarity of the name.
Experts give the example of Squid Game Token, reminding that much more care should be taken when investing in such risky products.
It is not known who or by whom the project, which keeps its team anonymous, is supported. While it is not known where this hype experienced by Omicron, a decentralized currency protocol based on Arbitrum, will end with its name similarity, experts say that such cryptocurrencies should be avoided.
*Not Investment Advice.