Cryptocurrencies recover from last week's sell-off as traders mull the impact of a new variant, while little-known 'omicron' coin soars
markets.businessinsider.comFrancesco Carta fotografo
Cryptocurrencies staged a sharp recovery on Monday, bouncing back from the steep sell-off late last week, when the «Omicron» variant of COVID-19 emerged, spooking investors and pummelling financial markets. Meanwhile, a mysterious token with the same name as the new variant surged in value.
Bitcoin rose 4.8% in 24 hours to stand at $57,136.17 by 07:52 a.m. ET Monday, having fallen by as much as 8% at one point on Friday, according to CoinGecko. Ether rose 5% in 24 hours to stand at $4,313.26, recovering from Friday's 11% drop.
The Omicron variant was first detected in South Africa last week. Since then, cases have begun to emerge in a number of countries outside the region and a number of governments including the UK
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