• Omicron digital coin has soared more than 412% in value.
• New, fast-spreading COVID-19 variant triggers massive selloff.
• Crypto and traditional markets have been sent into freefall.

It seems while the world attempts to steer clear of a new, fast-spreading COVID-19 variant called Omicron, crypto traders are seeking out a relatively unknown digital coin of the same name.

A once obscure crypto called Omicron has emerged and soared more than 412% in value in the days since the World Health Organization (WHO) named the new strain of the coronavirus as Omicron.

According to Crypto.com, Omicron is currently trading at US$335.72 up from just over US$61 a few days ago.

After the WHO warned of the new variant, the tiny digital coin emerged from insignificance to ascend in value while the broader cryptocurrency market, Bitcoin, and the traditional market plummeted. 

Many crypto traders have liquidated their positions and stock markets around the world have plunged into freefall since the discovery of the new Omicron variant.

It remains to be seen whether Omicron the crypto retains its value, and whether Omicron the COVID-19 variant will spread as rapidly as the digital coin rose in value.