Key notes
- The Mantra (OM) crushed a huge 90% in the last day, moving to a minimum of $ 0.42.
- Meanwhile, competitor Ondo (Ondo) increased by almost 30% last week.
- The CEO of Mantra says that the price crash had nothing to do with the development team.
The cryptography market was shaken over the weekend as a Mantra OM token
OM
$ 0.52
24h volatility:
91.3%
COURTIC CAPESSION:
$ 491.77
Flight. 24 hours:
$ 2.71 B
Once a child in the poster for the tokenization of active active world (RWA), suffered a catastrophic collapse, plunging more than 90% within 24 hours.
From a high assessment of more than $ 6, OM is now negotiated at less than $ 0.80, its market capitalization from $ 6 billion to only $ 748 million, according to CoinmarketCap data.
The catalyst behind the OM crash
OM’s negotiation volume increased by more than 3,000%, with more than $ 50 million in long -term positions, while the token increased from around $ 6.3 to $ 0.42 during the first hours of negotiation on April 14.
According to the Lookonchain data analysis platform, 17 portfolios deposited on more than 43.6 million OM tokens (worth $ 227 million at the time) on centralized exchanges between April 7 and the accident, representing 4.5% of the circulating offer.
Who dropped the price of $ OM?
Before the $ OM Crash (since April 7), at least 17 portfolios deposited 43.6 m $ OM($ 227 million at the time) in exchanges, 4.5% of food in circulation.
According to the Arkham tag, 2 of these addresses are linked to digital laser.
Digital laser is a strategy … pic.twitter.com/zb8yaprpso
– Lookonchain (@lookonchain) April 14, 2025
Two of the portfolios would be linked to digital laser, a strategic investor in Mantra.
These large token deposits and subsequent discharge behavior led a lot to suspect a coordinated or worse sale – a carpet traction.
The popular commentator on the Gordon market has described the event as “the largest carpet traction in Luna / FTX” and expressed disbelief to the gravity and suddenness of the accident.
It looks like the Mantra team had a large amount of supply and the market sold everything.
The team must approach this or $ OM It looks like he could go to zero.
The biggest carpet fired from Luna / FTX ?? pic.twitter.com/xsz5zp1qrh
– Gordon (@altcoingordon) April 13, 2025
Mantra answers: not our fact
In response to mounting speculation, JP Mullin, CEO and co-founder of Mantra, said the community, claiming that liquidations forced by centralized exchanges were responsible for the downward spiral.
Sherpas, omens and wider cryptographic community,
First of all, the team and I greatly appreciate the support we have received in the last hours, which, in our view, testifies to the strong support that Mantra has among its investors and its community.
We determined that …
– JP Mullin (🕉, 🏘️) (@ jp_mullin8888) April 13, 2025
He underlined the reckless forced closures by exchanges, suggesting that these actions were initiated during non -liquid hours without appropriate monitoring.
Mullin added that OM’s tokenomics remains intact, all team tokens and advisor are locked and that the project remains attached to long -term development.
On the other hand, the star of the CEO of OKX XU qualified the crash a major scandal for the crypto industry and promised transparency.
It is a great scandal for the whole cryptography industry. All ONCHAIN unlocking and deposit data is public, all the guarantee and liquidation data of major exchanges can be studied. OKX will prepare all the ready reports!
– Star (@star_okx) April 14, 2025
He noted that all the unlocking, recharge and chain liquidation data are available for the audit and have assured the public that OKX is preparing and would publish relevant reports.
Meanwhile, Ondo Finance is quietly growing
While OM plunged in chaos, finance Ondo
Ondo
$ 0.88
24h volatility:
0.6%
COURTIC CAPESSION:
$ 2.78 B
Flight. 24 hours:
$ 195.11
emerged as an unlikely winner.
The activity of the network on the Ondo protocol almost doubled in last week, and its native token jumped almost 30%, even if it was slightly cooled in the last 24 hours to discuss $ 0.8711.
Unlike the risks of token and doubtful centralization of OM, Ondo has survived a wave of positive fundamentals:
- Recently listed on Binance
- Has a strategic partnership with BlackRock
- Defend the Rwa story “Made in USA”
- Is part of the Crypto Portfolio of Liberty Financial of President Trump
$ Ondo The director of the strategy says: “The appetite for token in the moment is very high and he is expecting that many crypto exchanges to offer actions and others this year”.$ Ondo is at the top of this load – stocks and FNB on the FNB.
New bulls for $ Ondo pic.twitter.com/8pmhsundts
– Gray BTC (@Greybtc) April 13, 2025
Analysts like amcrypto believe that once wave Erases the psychological barrier of $ 1.10It could enter a parabolic rally – powered by a mixture of macro narratives and exchanges.
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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
