Key notes
- The whale transferred 1.724 million OM to Binance, perhaps preparing for a large-scale sale.
- Mantra plans to burn 150 million OM tokens by April 29, with talks for an additional 150 million token in the future.
- Analyst Moon Jeff considers the decline as a chance to buy, targeting a $ 1 resumption for OM.
John Patrick Mullin, CEO and founder of Mantra, recently announced an OM token of 300 million
OM
$ 0.53
24h volatility:
3.1%
COURTIC CAPESSION:
$ 503.21 M
Flight. 24 hours:
$ 468.53 million
Withdrawal from total supply. However, a whale portfolio identified as 0x5ac has become the speculation center in the middle of this major movement.
Assigate a recent post X by data net, this portfolio had raised 2.9 million OM last month at an average price of $ 6.45, investing about $ 18.7 million in total. However, barely two days ago, he transferred 1.724 million OM (evaluated at $ 1 million) to Binance, which raised concerns about a possible sale.
Last month, this 0x5ac whale accumulated 2.9 m $ OM For $ 18.7 million (~ $ 6.45 entrance)
2 days ago, he deposited 1.724 m $ OM (~ $ 1 million) #Binance
If it is sold, it will have loss of $ 10.11 million (king -91%)
Earlier, it still has 1.173m $ OM (~ $ 595K) with an unpaid loss ~ $ 6.97 million… pic.twitter.com/rnhoa07tjr
– Data Nerd (@onchaindatanerd) April 22, 2025
If the whale exists entirely at current prices, it would come to make an amazing loss of $ 10.1 million. The portfolio still retains 1.173 million OM, worth $ 595,000.
Mullin’s recovery movement
This activity of whales coincides with Mullin by announcing a daring recovery decision: an OM token burn of 150 million, currently not strewn and planned to be executed by April 29. The tokens will be permanently removed from traffic, aimed at reducing total supply.
In addition, discussions are underway to burn an additional OM 150 million, which potentially half of the team and ecosystem allowances.
If it is executed, this permanent token abolition will reduce OM’s total offer from 1.82 billion to 1.67 billion. The reduction of circulating and dotted tokens, by more than 26%, should also improve features, the APR increasing as the linked ratio goes from 31.47%to 25.30%.
In particular, OM saw a massive accident of 90% on April 13, resulting in prices of $ 6.30 to $ 0.55 in a few hours.
Mixed community reactions
OM is negotiated about $ 0.52, up 0.5% in the last 24 hours. The announcement of chip burns resulted in an increase of 88% in the volume of exchanges, suggesting increased activity of investors.
Crypto popular analyst, Moon Jeff, considers the current decline as a purchase opportunity, predicting a short -term objective of $ 1 and even greater values for OM in the future.
You will never be mistaken by buying the $ OM soak.
Recovery will be epic.
Target at $ 1.
And perhaps larger values. 👌 pic.twitter.com/xgphhngc5o– Moon Jeff 🪐 (@ cryptoad00) April 21, 2025
On the other hand, criticisms note that around 4 million OM tokens continue to unlock every few weeks, with 45% of the total offer still locked.
The founding team finally announced a burning plan $ OMBut the big question is: will the price are recovering?
You can clearly see that the $ OM The team’s tokens burn is too complicated – almost as if they were blocking time.
They announced a burn of 300 million $ OM… pic.twitter.com/dkcj8il1tt
– Cryptoninjas (@crypto_ninjas) April 22, 2025
Cryptoninjas believes that this undermines the impact of the burn, arguing that the team acted too late and that the graphics suggest slow bleeding rather than recovery.
following
Non-liability clause: Coinspeaker undertakes to provide impartial and transparent reports. This article aims to provide precise and timely information, but should not be considered as financial or investment advice. Since market conditions can change quickly, we encourage you to check the information for yourself and consult a professional before making decisions according to this content.
Cryptographic journalist with more than 5 years of experience in the industry, Parth has worked with the main media in the world of crypto and finance, the collection of experience and expertise in space after having survived bear markets and bulls over the years. STHTH is also an author of 4 self-published books.
Parth Dubey on LinkedIn
