This is a bit different from what i usually share with you guys, but this is actually important. In the times of the pandemic, investors began moving away from conventional markets as the saw a possible economic collapse all around the world. Prominent sources have already made it clear that returning to the old normal is really impossible. Even though restrictions are being removed around the world, complete eradication of the virus is necessary to stabilize the market. The increase in the cryptocurrency prices was also influenced by market volatility.

Ever since the outbreak researchers in different parts of the world dedicated themselves to create the priceless commodity of tomorrow - A Vaccine

Let us take a look at the progress of this researches.

With more than 170 candidate vaccines now monitored by the World Health Organization, researchers around the world are rushing to create a vaccine against Covid-19.
It typically takes years of research and extra time for vaccines to be developed on a scale, but scientists expect to create a coronavirus vaccine within 12 to 18 months.
Vaccines replicate the virus or part of the virus they defend against, inducing the production of antibodies by the immune system. Since they are distributed to millions of healthy individuals, they must meet higher safety requirements than other medications.

Let us classify the researches as follows

• Pre-clinical
• Phase 1
• Phase 2
• Phase 3
• Approved

PRE-CLINICAL

Let us first consider Pre-clinical, this refers to vaccines that are not yet in clinical human trials. These vaccines are in the early stage and trials are done on animals in order to study its effects. According to WHO, there are 142 vaccines that are currently in this stage.

PHASE 1

Vaccines that proves to be promising in the pre-clinical phase passes to phase 1. In this phase, the vaccine is tested on a small group of people. The immune responses of these people are verified. According to WHO, there are now 29 vaccines that are in phase 1.

PHASE 2

If the results in phase 1 are promising, with propper permissions phase 2 trials are conducted. Now it is tested in more than 100 people and they are properly examined to confirm the safety of the vaccine and proper dosage is determined. As of today, there are 18 potential vaccines in phase 2.

PHASE 3

In this stage, the vaccine is given to thousands of people who are usually selected from a list of volunteers considering their genetic characters. This group is closely examined for vaccine safety and rare side effects. According to WHO, there are 9 vaccines currently in this stage.

There are no vaccines as of today that is approved by the WHO for general use.

There are a few vaccines that are at the end of PHASE 3. We are looking for an exclusive blog post on them. As I have told the price variation in cryptocurrencies is said to vary with a possible chance of COVID 19 Vaccine.