Crypto

Omicron: Cryptocurrency or New Variant?

Omicron the Covid-19 variant has roiled global markets because of concerns that its many mutations would let it elude immune responses, yet there is also optimism that it will cause lesser sickness. But it also has helped Omicron, a cryptocurrency, rise more than 900 percent due to the addition of this Covid-19 variant called Omicron. Another week, another cryptocurrency skyrocketing due to a catchy name. The Omicron cryptocurrency has witnessed some extremely tremendous rises in recent days, but is this enough to make it a must-buy digital currency?

What is Omicron: Cryptocurrency or New Variant?

Omicron: Cryptocurrency or New Variant

Omicron (CCC:OMIC-USD) is a freshly announced decentralized reserve money technology that works on the Ethereum layer-two network Arbitrum. Its original OMIC token is supported by a variety of different crypto assets, including the USD stablecoin and liquidity provider tokens. It can only be exchanged on the decentralized exchange SushiSwap.

Now that you know whether Omicron is a cryptocurrency or the new variant we’re talking about here, so should you be investing in the currency?

Should You Invest in Omicron Cryptocurrency?

If you can relate to a similar story that emerged when Squid Games got overnight success, the analogies between OMIC and SQUID have common points. It is advised to take care when buying cryptocurrencies based only on their names. Is Omicron a cryptocurrency you want to invest in because of its fundamentals? Most likely not. Is it, however, a cryptocurrency with millionaire-making potential for those looking to cash in on its name? Again, most likely not. You’re probably out of luck unless you were already holding enormous quantities of OMIC prior to the price surge. Even with the increase in trading volume, the token is already down today. 

6 Cryptocurrencies That Could Rally in December

There is a high probability that we might see a Santa rally with December coming to an end, so here is a prediction of six cryptocurrencies you should consider buying.

Bitcoin 

BTC’s signs show that it may be due for a recovery. Its RSI is below 50, and its 30-day average has just fallen below its 200-day average. It’s likely that its downturn could last a few more days before bottoming out, but when it does, it might enjoy a strong rally. The cryptocurrency market as a whole never rises meaningfully until BTC first rallies. So, if you anticipate the market to rise, you should consider allocating a portion of your portfolio to Bitcoin.

Omicron: Cryptocurrency or New Variant

Without a doubt, bitcoin continues to pique the curiosity of mainstream institutional and individual investors more than other cryptocurrencies. All of this explains why BTC is well-positioned for the future, and why we continue to include it as one of our seven best cryptocurrencies to purchase for the December surge.

Ethereum 

Ether (ETH) has been trading in a band of $4,868 to $3,900 for the last several days. However, the bears were unable to hold the price below the range after driving it below it on December 4. The bulls aggressively purchased this drop, as demonstrated by the day’s candlestick’s extended tail. Bears will also try to hold the pair below $3,900 if the price falls from its present level, contrary to common assumption. If they are successful, the pair’s earnings might fall to $3,400.

Omicron: Cryptocurrency or New Variant

Solana 

Solana, which was launched in 2020 by Anatoly Yakovenko, is a smart contract blockchain with a powerful DeFi ecosystem with more than $10 billion in protocols locked in. In the DeFi arena, Solana intends to compete with the Ethereum network. Solana is the fifth-largest digital currency in the world, with a market worth of almost $71 billion. SOL started the year at around $1.61 per token. It is presently trading about $230, up nearly 14,000 percent year to far. The platform is powered by a hybrid architecture of proof-of-stake (PoS) and proof-of-history (PoH) protocols, making it one of the quickest blockchain protocols in the cryptocurrency ecosystem. Validators are not required to interact with each other in the PoH protocol. As a result, Solana can handle 50,000 transactions per second (TPS), compared to Ethereum’s 13 TPS.

Omicron: Cryptocurrency or New Variant

Furthermore, Solana’s gas is just $0.00025 per transaction, implying huge savings in comparison to Ethereum’s exorbitant gas expenses. As a result of its high-throughput, low-fee platform, Solana bulls claim that the platform is on pace to become a leading network focused on decentralized-application development.

Cardano 

Many tokens are reaching new all-time highs as a result of the current cryptocurrency surge. However, the ADA-USD is still 33% lower than its all-time high. Here is a catch: there are two sides to this coin. Once it catches up to its rivals, Cardano will be able to make up ground and provide bulls with a handsome return. It might be the next cryptocurrency to reach all-time highs. Cardano, like Polkadot, was established by a former Ethereum founder. For those who are curious, it is Charles Hoskinson. Cardano, like Ethereum 2.0, is a proof-of-stake cryptocurrency with certain essential security features. It is demonstrably safe from malicious actors and Sybil assaults. Every transaction, interaction, and exchange is retrieved immutably and transparently and securely authenticated utilizing multi-signature and a ground-breaking extended UTXO model.

Omicron: Cryptocurrency or New Variant

Polkadot 

Polkadot was about 15% lower than its all-time high in May. Surprisingly, the bear market in growth companies ended just about the time Polkadot peaked. By late July, it lost around 80% of its value. However, before the latest slump, a robust five-day surge was enough to drive Polkadot to new all-time highs. It is now down roughly $25 from its all-time high of $54.98.

Omicron: Cryptocurrency or New Variant

Polkadot is a very solid contender to bounce back up to (and possibly beyond) $55 given the previous momentum and the present drop finding some buyers. It’s probable that we’ll see a somewhat deeper drop, putting the $45 breakout level and the 50-day moving average on the table. In any case, dip-buyers may be able to take a position in this one shortly.

Dogecoin 

Dogecoin has gained popularity as a result of celebrities and billionaires such as Elon Musk. Dogecoin famously began as a joke in 2013, but because of a loyal community and inventive memes, it quickly become a major cryptocurrency choice. Before gaining control of the Dogecoin network, a hacker must control 51% of the processing power. Doge grows significantly quicker than other cryptocurrencies because of the inclusion of SCRYPT in its proof of work algorithm.

Omicron

Every 60 seconds, DOGE certifies one block. In comparison, Litecoin confirms blocks in an average of 2 minutes and 30 seconds; Ethereum confirms blocks in an average of 13.11 minutes, and BTC confirms blocks in an average of 13.95 minutes. In 2017, the price of Dogecoin was $0.0002. By December 8, 2021, its price had risen to $0.17, representing an almost 84,900 percent gain.

What Do We Think?

Omicron is late to the Greek-alphabet game, but there are still some good ones available. Pi, Upsilon, and the most terrifying crypto-thing/Covid-variant name of all: Omega. For better or worse, that one may represent the end of the Covid pandemic/crypto exuberance. Or maybe we’ll simply start again with Alpha. There are several cases of tokens skyrocketing due to misidentification. The most recent well-known example is how people purchased tokens just after Elon Musk’s tweet. The obvious way to become wealthy here is to purchase crypto named after the other letters of the Greek alphabet and wait for new Covid-19 variants to drive even more meme-buying. (Please keep in mind that this is only a “joke” and does not represent actual financial advice.) In reality, this is a road that will very certainly lead to financial catastrophe rather than riches.)

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