The least known crypto coin ‘Omicron’ and the future coins

We are very much familiar with the word ‘Omicron’ but do you know that there is a cryptocurrency token named ‘Omicron’? You heard it right. It is one of the least known cryptocurrencies in the crypto market. This crypto token is named after a Greek letter. The surge in the coin back in November 2021 is such that it is stronger 10 times the top cryptocurrencies such as Bitcoin and Ethereum as the World Health Organization named the current pandemic variant as ‘Omicron’.

The token jumped from Rs 4,874 to Rs. 50,996 within three days!  This coin was launched early in November 2021. Before the variant Omicron was triggered all over the world, this token was not on the scene of the crypto market. The surge of this coin has shaken most of the crypto enthusiasts to take a test on it.

Most of the crypto exchanges warned the users about the blow of the rapid rise of the Omicron token. Though it surpassed Bitcoin, it is not worthy of investment. As per Omicron’s official website, it is said that this token is decentralized which is built on Arbitrum. Nobody can say if it is riskier than any other cryptocurrency or not. But the sudden rise of the token created interest in crypto enthusiasts.

The new cycle of this token has triggered a high wave in the crypto market. Until this, the token was traded steadily. As per crypto experts, the sudden rise in the token was just because of the new variant ‘Omicron’. Otherwise, the token has not much value in the market and is less popular.

But the significance here is the selection of the new variant name by WHO. They could have selected other Greek letters such as Nu or XI. But Nu would be mistaken for the English word ‘new’ and XI would have disgraced some region. The warning about the token by many of the crypto exchanges was right since the token fell to 75% after the 3 days of a surge for three days.

The supply of this token is said to be one million and is traded only through Sushiswap which is a decentralized exchange. The market cap of this token is also not known. Often such a sudden rise in the tokens will follow a sudden fall once the initial hum gets over. In the same week when Omicron was at its peak, many of the cryptos have seen a fall. These swings are not good and trigger global criticism. According to a crypto expert, these unheard tokens should be handled with a credibility rate by investors.

The same thing happened in the case of Squid game token which was named after the Netflix series. This token got a buzz and washed away investors’ wealth in no time. The bizarre coincidence of naming the new variant as Omicron had dragged the Omicron token to the limelight. This is a Defi project built on Ethereum arbitrum.

There is no actual reason for this type of token to get a rise in the crypto market. This is nothing but a short-term trigger like Elon Musk’s mention of Doge and Shiba Inu which affected the price of both the tokens.

In the year 2021, we have seen many of the unheard or unpopular tokens have made a place in the cryptocurrency market though for little time. These minor cryptocurrencies have benefitted linked to some VIP speech or memes. These have recorded a rapid rise and fall. But the year has given much popularity to the No.1 Bitcoin by raising it to the highest peak.

Similarly, this Omicron token would not retail its popularity which it gained through the name of the new Covid variant. This will just mimic the movement of the Covid virus. Most of the crypto experts suggest investors not invest in such tokens, especially for retail investors.

Before entering the crypto market, one should understand that the cryptocurrency field is extremely volatile. It is better not to focus on unpopular token coins for investment but focus on potential coins. Blockchain technology is now gradually developing among industries because of its safety and security. This is why it is necessary to investigate properly before you put in your wealth.

You can consider the following crypto coins for investments in 2022:

Dogecoin: A crypto coin with a market cap of US$29.157 billion. The SpaceX CEO Elon Musk’s picture of his Shiba Inu puppy had a positive impact on this coin’s value.

Shiba Inu: This coin has a market cap of US$23.801 billion. This is the same as Dogecoin, triggered after a tweet from Elon Musk about his puppy.

Polkadot: It has a market cap of US$35.774 billion. It is a future coin connecting blockchains and enabling cross-blockchain parachains.

Tether: The market cap of this coin is US$74.141 billion. This coin is in use when the market goes volatile. You can hold your money with the exchange if you see the market is at risk.

Chainlink: The market cap of the coin is US$11.633 billion. Through a decentralized oracle network, the coin allows blockchains to interact securely with external data like payment methods.

VeChain: This coin has a market cap of US$7.538 billion. It is affordable as well as a potential coin which makes it the perfect choice for investors.

Polygon: This coin has a market cap of US$14.554 billion. It is a framework created for interlinked blockchain networks. This coin may involve many transformations shortly.

XRP: It is a coin with a market cap of US$46.12 billion. It is mostly used to transfer money with an affordable fee with minimum delay. This is why this coin is attracting most of the banks in the world.

EOS: The market cap of the coin is US$3.85 billion. This might eliminate the transaction fee with rapid execution.

Crypto is any exciting market where the future can’t be predicted. Compared with the stock market, which is more predictable, the crypto market is still trending. One can manifest these predictions in the crypto market into reality in many ways. Bitcoin once was nothing and now has become the dream of every financial sector and the merchants for it are growing seamlessly.