A Crypto Called ‘Omicron’ Surged 900 Percent. Of Course It Did

 359 total views

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on pinterest
Pinterest
Share on whatsapp
WhatsApp
Share on telegram
Telegram

A Crypto Called ‘Omicron’ Surged 900 Percent. Of Course It Did

By Mark Gongloff

A crypto thing called Omicron has soared more than 900 per cent since Saturday because there is now also a COVID variant called omicron. That’s it. That’s the reason.

Omicron the COVID variant has roiled global markets because of fear that its many mutations could help it evade immunity defences, although there is also hope it may cause milder disease.

Omicron the Crypto Thing is, in the words of CoinTelegraph, “a recently introduced decentralised reserve currency protocol that runs on the Ethereum layer-two network Arbitrum. Its native OMIC token is backed by several other crypto assets including the USD Coin stablecoin and liquidity provider tokens. It can only be traded on the SushiSwap decentralised exchange.”

“Bond-based yield farming project” is another way to describe it. Do you understand what all of those words mean? What are words? What is meaning? After carefully balancing these factors, Bloomberg Opinion initiates coverage of Omicron the Crypto Thing with a “conviction buy” rating. (Please for the love of God and all that is holy, realise that this is a “joke.” Do not buy Omicron the Crypto Thing without consulting legitimate financial research and advice. Omicron the Crypto Thing may suddenly accelerate to dangerous speeds. Do not taunt Omicron the Crypto Thing.)

Omicron the Crypto Thing jumped to roughly $US700 from $US65 between Saturday and Monday, as news of Omicron the COVID Variant spread. Do we even need to talk about how ridiculous this is? Here is an asset trading on an obscure, risky exchange that is less than a month old and so illiquid we don’t even have market-cap data for it yet. It has nothing to do with the COVID variant, aside from maybe the disease’s third-derivative effects on commerce, sentiment and markets, making it part of an investment universe that includes roughly everything in existence.

As such, Omicron the Crypto Thing’s overnight explosion “perhaps represents peak irrationality,” ventures CoinDesk’s Omkar Godbole. Perhaps!

There are countless examples of stock prices soaring on mistaken identity. The most recent famous example is how people bought shares of medical-device maker Signal Advance after Elon Musk told people to use the Signal messaging app. Fast-trading algorithms accidentally buy names similar to their real targets, and fat-fingered traders hit the wrong keys.

Maybe there’s some of that at work with people buying Omicron the Crypto Thing. But there is also evidence that people are buying it simply for the lulz, as one does these days.

Whatever the reason, this is dumber than the usual name or ticker-symbol mix-up. Those at least involve two of the same kind of asset. This is like buying a hot dog because you saw a dog. Or a Mars bar because you saw Mars. Although with those examples you at least get some food out of the deal.

The obvious path to riches here is to buy crypto named after the rest of the letters of the Greek alphabet and wait for new COVID variants to inspire more meme-buying. (Once again, please note that this is a “joke” and in no way constitutes legitimate financial advice. In fact, this is a path not to riches but to almost certain financial ruin.)

Omicron is late in the Greek-alphabet game, but there are still some juicy ones out there. These include pi, upsilon and the scariest crypto-thing/COVID-variant name of all: omega. Maybe that one will represent the end of the COVID pandemic/crypto exuberance, for better or worse. Or maybe we’ll just start over again with alpha.

Start investing In cryptocurrency with Bitxchange. If you’re new to the world of crypto, and figuring out how to buy cryptocurrencies, then cryptocurrency exchanges like Bitxchange help you to easily buy and sell crypto.

 360 total views

*Note We Deliberately Miss Spell Some Words or Add Capital Letters To Get Around Big Tech Censoring.

Share on facebook
Facebook
Share on twitter
Twitter
Share on linkedin
LinkedIn
Share on pinterest
Pinterest
Share on whatsapp
WhatsApp
Share on telegram
Telegram

Join www.truthbook.social our new social media platform backed by Independent Media. where you can speak the truth, and not be banned. Plus you'll receive $50 USD in www.truthcoin.social,the crypto currency backing the project, when you join, plus a lot more for sharing posts. www.truthbook.social

Truthbook.social offering hundreds of thousands in giveaways for those joining its new social media platform as many desert Facebook in droves because of censoring

Here is some of the current incentives being offered to new users

Subscribe for free to our ANR news emails and access 2 free ebooks plus Reports to share with family and friends about Covid fraud and the danger of the vaccines.

For ANR Smaller Donors please donate below to help fund our critical not for profit work. Together we can defeat mainstream media.

We are a not for profit Independent Media Company which survives off donations, even as little as $5 per month . Please donate now to help fund our work

Truthcoin Offer

$1000 USD turns into Now $7500 Truthcoin
$2,500 USD turns into Now $25,000 Truthcoin
$5000 USD turns into Now $65,000 Truthcoin
$10,000 USD turns into Now $150,000 Truthcoin
$15,000 USD turns into Now $250,000 Truthcoin
$50,000 USD turns into Now $1.15 Million Truthcoin
$100,000 USD turns into Now $2.5 Million Truthcoin

Leave a Reply

Your email address will not be published. Required fields are marked *

McIntyre Report
Political Talk Show

We are a not for profit Independent Media Company which survives off donations, even as little as $5 per month . Please donate now to help fund our work

Kylie Bartlett show

Craig Schulze Show

WHY WE NEED TO START SAYING NO TO GAIN OUR SELF RESPECT

Play Video

Raw Report

Ryan Jackson Saw show

Hero Nurse Exposes Government Policies Leading to Elder Abuse

ANR Conversations With Wayne Crouch and Lisa Johnston With Special Guest Simeon Boikov A.K.A the Aussie Cossack

Top 10 Crypto

in USD

in AUD

in GBP

in CAD

Jamie McIntyre

Truthbook.Social

Currency Exchange Rates in AUD

Live and updated every minute of the day

Current Price of Bitcoin 2.0
0.19 on Coinsbit

Nurses Speak Out

ANR Meme Report

with Nadine Roberts

Episode 002

21st Century Political System

Play Video

Editor's Pick

Enter email to receive ANR News articles, 2 free e-books, plus the Global Health Organisation Report

Download the Full PDF - THE COVID-19 FRAUD & WAR ON HUMANITY