After the World Health Organization (WHO) warned of a new COVID-19 variant named Omicron, the cryptocurrency market, Bitcoin (CRYPTO: BTC), and the traditional market went into a tailspin. Many crypto traders have had their positions liquidated as well.
Amidst all this, a new cryptocurrency in the market, coincidently named Omicron (CRYPTO: OMIC), spiked by 137% in the last 24 hours.
The token trades solely on Arbitrum One via SushiSwap.
The Omicron token is now worth $404, up 735% compared to its all-time low on November 17.
Until now, $671,081 has been deposited within its protocols, which leads to breathless projected annual yields of 70,377% for stakers.
According to the trading platform CoinGecko, 69% of users feel good about the coin.
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