The feeling of crypto investors took another important blow this week after the Mantra OM token collapsed by more than 90% in a few hours on Sunday, April 13, triggering instinctive comparisons with previous black swan events such as the collapse of Terra-Luna.
Elsewhere, the Coinbase report for institutional investors was added to concerns by stressing that cryptocurrencies can be on a lower market until a recovery takes place in the third quarter of 2025.
The Mantra OM token crash exposes “critical” liquidity problems in crypto
The recent collapse of mantra tokens highlights a problem within the cryptographic industry of fluctuating weekend liquidity levels creating additional drop volatility, which may have exacerbated the token accident.
The Prix du Token Mantra (OM) collapsed by more than 90% on Sunday, April 13, from $ 6.30 to $ 0.50, triggering market handling allegations among disillusioned investors, Cointelegraph reported.
While blockchain analysts are still the reasons for the collapse of OM, the event highlights certain crucial problems for the cryptography industry, according to Gracy Chen, CEO of the cryptocurrency exchange bit.
“The OM token crash has revealed several critical problems that we see not only in OM, but also as an industry,” said Chen during the ChainreAction Daily X show of Cointelegraph, adding:
“When it is a too concentrated token, the concentration of wealth and very opaque governance, as well as sudden exchange entries and outputs, (…) combined with forced liquidation for very low hours of liquidity in our industry, created the great drop.”
Crypto in a lower market, probably bounced in the third quarter – Coinbase
A monthly review of the market by Crypto Exchange listed on the Stock Exchange Exchange shows that if the cryptography market has contracted, it seems to be preparing for a better quarter.
According to the monthly prospects of April 15 of Coinbase for institutional investors, the Altcoin market capitalization decreased by 41% compared to the summits of 1.6 billion of dollars from December 2024 to $ 950 billion in mid-April. BTC Tools data show that this metric affected a hollow of $ 906.9 billion on April 9 and amounted to $ 976.9 billion at the time of writing.
The funding for venture capital in crypto projects would have decreased by 50% to 60% from 2021 to 22. In the report, the world research manager David Duong stressed that a new cryptographic winter could be on our doors.
“Several convergent signals can point to the start of a new” winter of cryptography “, because an extreme negative feeling took place due to the start of world prices and the additional climbing potential,” he said.
Founding details of Manta attempt at Lazarus Zoom who used very real “legitimate faces”
The co-founder of Manta Network, Kenny Li, said that he was targeted by a sophisticated phishing attack against Zoom who used live recordings of familiar people in order to attract him to download malware.
The meeting seemed real with the camera’s camera, but the lack of sound and a suspicious prompt to download a script raised red flags, said Li in an article on April 17.
“I could see their legitimate faces. Everything looked very real. But I couldn’t hear them. He said my zoom needed an update. But that asked me to download a script file. I immediately left.”
Li then asked the imitator to check on a telegram call, however, they did not comply and made the erasure of all the messages and blocked it shortly after.
Li said that the Lazarus group supported by the North Korean state was behind the attack.
The co-founder of Manta Network managed to capture his conversation with the attacker before the deletion of messages, during which Li initially suggested moving the call to Google Meet.
Addressing Cointelegraph, Li said he thought that the live photos used in the video call were taken from previous records of real team members.
“It did not seem generated by AI. The quality looked like what a typical webcam quality looks like.”
The tokens have, even dominate crypto stories in the first trimester 2025: Coingecko
The cryptocurrency market always recycles old accounts, with few new trends to emerge and replace the main themes in the first quarter of 2025.
According to a quarterly research report, artificial intelligence tokens were the dominant crypto stories in the first quarter of 2025, representing 62.8% of investors’ interests, according to a quarterly Coingecko research report. The tokens have captured 35.7% of the global interests of investors, exceeding the share of 27.1% of the same, which remained in second place.
Among the 20 main cryptographic accounts in the neighborhood, six were even categories while five were linked to AI.
“It looks like we have not yet seen another new story emerging and we are still following the trends in the last quarters,” said Bobby NGO, co-founder and chief of Coingecko, in a post of April 17. “I guess we are all tired of the same old trends repeating.”
Crypto Lending Low 43% from 2021 Highs, DEFI borrowing increases 959%
The size of the cryptography loan market remains considerably decreasing compared to its top of $ 64 billion, but the decentralized finance (DEFI) borrowed more than 900% of the bottom of the bear market.
The cryptographic loan allows borrowers to use their cryptographic participation as a guarantee to obtain Crypto or Fiat loans, while lenders can use their assets to arouse interest.
The cryptography loan market fell by more than 43%, against its summit of $ 64.4 billion in 2021 to 36.5 billion dollars at the end of the fourth quarter of 2024, according to a Galaxy digital research report published on April 14.
“The decline can be attributed to the decimation of lenders on the side of supply and funds, individuals and corporate entities on the side of demand,” according to Zack Pokorny, research partner at Galaxy Digital.
The drop in the cryptography loan market began in 2022 when centralized financing lenders (CEFI) Genesis, Celsius Network, Blockfi and Voyager have filed a bankruptcy in two years as cryptographic assessments have dropped.
Their collective fall resulted in an collapse estimated at 78% of the size of the loan market, the CEFI Lending losing 82% of its open emprans, according to the report.
Presentation of the DEFI market
According to Cointelegraph Markets Pro and TradingView data, most of the 100 largest cryptocurrencies by market capitalization ended the week in green.
The DECENTRALIVEDE EXCHANGE (DEX) token Raydium (RAY) increased by more than 26% as the largest winner of the week, followed by the AB Blockchain (AB) utility token, up 19% on the weekly graphic.
Thank you for reading our summary of the most impactful DEFI developments this week. Join us next Friday for more stories, information and education concerning this dynamically advanced space.
