On November 29, the crypto market trended higher, recovering from the Friday drop on news of Omicron, the new COVID-19 variant. All of the majors registered gains, as did most of the coins in the top 100 by market cap.
In the top 20, Solana and Polkadot led the way with gains of over 7%. At the time of writing, Bitcoin was up by 0.37% to $57,567. A mixed start to the day saw Bitcoin fall to an early morning low of $57,201 before rising to a high $57,977. Barring another extended sell-off on the day, Bitcoin should steer clear of the second major support level at $52,083.
Metaverse tokens continue their rally on the first day of the week. Decentraland’s Mana is up 9.6%, SAND gained more than 20%, and Enjin gained 12.5%. Gala by Gala Games is up 15% today. The token of PancakeSwap, a decentralized finance application that allows users to exchange tokens, providing liquidity via farming and earning fees in return, has added almost 13% to its value in the past 24 h.
Amp reversed some of the gains obtained after its Binance listing. 66th ranked Stacks, a layer-1 blockchain solution that is designed to bring smart contracts and decentralized applications to Bitcoin, gained 14% in the last 24 h. These smart contracts are brought to Bitcoin without changing any of the features that make it so powerful, including its security and stability,
KuCoin exchange’s native token is up 12.5%. Finally, 97th ranked ZIL, the token of the public, permissionless Zilliqa blockchain guaranteeing high throughput with the ability to complete thousands of transactions per second, gained more than 17%.
A little-known crypto coin called Omicron is riding the coattails of the new COVID-19 variant. Today, its fully diluted market cap is $633 million, up 88% in the last 23 hours and around 500% in the days since the World Health Organization named the new Covid-19 variant.
Omicron is a decentralized reserve currency protocol available on the Arbitrum Network. Each OMIC token is backed by stablecoin assets like USDC, giving it an intrinsic value that it cannot fall below.