TokenCrash
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Faver Shuts Down Due to Financial and Technical Issues
Social app Faver has shut down during its Token Generation Event (TGE), citing major financial struggles and technical problems. Despite raising $7M in 2023 and reaching 35,000 daily users, the project failed to manage token sales and listing costs. Since TGE, the token value dropped 99%, leading to bankruptcy.
#FaverShutdown #Web3 #TokenCrash #StartupFail #CryptoAlert $SOL
Social app Faver has shut down during its Token Generation Event (TGE), citing major financial struggles and technical problems. Despite raising $7M in 2023 and reaching 35,000 daily users, the project failed to manage token sales and listing costs. Since TGE, the token value dropped 99%, leading to bankruptcy.
#FaverShutdown #Web3 #TokenCrash #StartupFail #CryptoAlert $SOL
🚨𝐌𝐚𝐧𝐭𝐫𝐚 𝐀𝐭𝐭𝐫𝐢𝐛𝐮𝐭𝐞𝐬 𝐎𝐌 𝐓𝐨𝐤𝐞𝐧 𝐂𝐨𝐥𝐥𝐚𝐩𝐬𝐞 𝐭𝐨 𝐅𝐨𝐫𝐜𝐞𝐝 𝐋𝐢𝐪𝐮𝐢𝐝𝐚𝐭𝐢𝐨𝐧𝐬 𝐛𝐲 𝐄𝐱𝐜𝐡𝐚𝐧𝐠𝐞
The team behind blockchain platform Mantra has attributed the abrupt 90% plunge in its native token OM’s value to sudden, forced position closures by centralized exchanges. On April 13, OM fell from $6.30 to under $0.50, wiping out over $6 billion in market capitalization.
In an official statement on X, Mantra co-founder John Mullin stated, “We have determined that the OM market movements were triggered by reckless forced closures initiated by centralized exchanges on OM account holders.” Mullin further indicated that the timing—during low-liquidity hours on a Sunday evening UTC—suggested either negligence or potentially intentional market behavior. He noted that one exchange in particular might be responsible but clarified that Binance was not involved.
Amid speculation from the community, Mullin denied theories suggesting the team had taken out large loans using OM as collateral or orchestrated a rug pull. He emphasized that OM tokens remain locked under the published vesting schedule, and all token wallet addresses remain transparent and online.
Following the crash, OM briefly recovered above $1 but has since retraced to approximately $0.7894, according to CoinGecko. The token is now down over 91% from its all-time high of nearly $9 reached in February.
Blockchain analytics firms Spot On Chain and Lookonchain reported that whales moved significant amounts of OM to exchanges days prior to the collapse. Spot On Chain highlighted a loss of over $400 million among certain whale addresses, while Lookonchain noted that 43.6 million OM (4.5% of circulating supply) had been deposited to exchanges since April 7.
Mantra is expected to provide further clarity during an upcoming community session on X.
#CryptoNews #MantraOM #TokenCrash #BlockchainInsights
The team behind blockchain platform Mantra has attributed the abrupt 90% plunge in its native token OM’s value to sudden, forced position closures by centralized exchanges. On April 13, OM fell from $6.30 to under $0.50, wiping out over $6 billion in market capitalization.
In an official statement on X, Mantra co-founder John Mullin stated, “We have determined that the OM market movements were triggered by reckless forced closures initiated by centralized exchanges on OM account holders.” Mullin further indicated that the timing—during low-liquidity hours on a Sunday evening UTC—suggested either negligence or potentially intentional market behavior. He noted that one exchange in particular might be responsible but clarified that Binance was not involved.
Amid speculation from the community, Mullin denied theories suggesting the team had taken out large loans using OM as collateral or orchestrated a rug pull. He emphasized that OM tokens remain locked under the published vesting schedule, and all token wallet addresses remain transparent and online.
Following the crash, OM briefly recovered above $1 but has since retraced to approximately $0.7894, according to CoinGecko. The token is now down over 91% from its all-time high of nearly $9 reached in February.
Blockchain analytics firms Spot On Chain and Lookonchain reported that whales moved significant amounts of OM to exchanges days prior to the collapse. Spot On Chain highlighted a loss of over $400 million among certain whale addresses, while Lookonchain noted that 43.6 million OM (4.5% of circulating supply) had been deposited to exchanges since April 7.
Mantra is expected to provide further clarity during an upcoming community session on X.
#CryptoNews #MantraOM #TokenCrash #BlockchainInsights
Title:
Phaver Shuts Down After 99% Token Crash
Content:
SocialFi platform Phaver has officially shut down after its native token lost over 99% of its value since TGE (Token Generation Event). The project, once hyped as a decentralized social media revolution, couldn’t maintain traction or user growth.
Key Highlights:
Token plummeted from launch to near-zero value
Team confirmed shutdown via official channels
Liquidity dried up as user trust collapsed
This event highlights the extreme risks in low-cap, over-hyped token launches. Always Dyr and watch for strong fundamentals, not just trends.
Hashtags:
#Phaver
#CryptoNews
#TokenCrash
#SocialFi
#BinanceFeed
#RugAlert
#Web3
Phaver Shuts Down After 99% Token Crash
Content:
SocialFi platform Phaver has officially shut down after its native token lost over 99% of its value since TGE (Token Generation Event). The project, once hyped as a decentralized social media revolution, couldn’t maintain traction or user growth.
Key Highlights:
Token plummeted from launch to near-zero value
Team confirmed shutdown via official channels
Liquidity dried up as user trust collapsed
This event highlights the extreme risks in low-cap, over-hyped token launches. Always Dyr and watch for strong fundamentals, not just trends.
Hashtags:
#Phaver
#CryptoNews
#TokenCrash
#SocialFi
#BinanceFeed
#RugAlert
#Web3
The Sudden Collapse of OM Token — What Went Wrong?
💥 The Sudden Collapse of $OM Token — What Went Wrong?
On April 13, 2025, the crypto community watched in disbelief as OM, the native token of the Mantra ecosystem, crashed by over 90% within just a few hours. The token price dropped from $6.30 to as low as $0.37, wiping out more than $5.4 billion in market capitalization.
This dramatic plunge caught the attention of many, raising questions about the internal workings of the project and the risks involved in centralized exchange activity.
🔍 What Caused the Crash?
According to Mantra’s co-founder, the crash was triggered by “reckless forced closures” initiated by centralized exchanges. Over $71 million in OM positions were liquidated, creating a cascade effect that spiraled the price downward.
Adding to the chaos, blockchain analysts observed that 17 wallets deposited 43.6 million OM tokens (~$227M) to exchanges just before the drop. Some of these wallets were believed to be linked to major investors like Laser Digital and Shorooq Partners — though both firms denied any involvement, and Mantra later claimed the wallets were misidentified.
📊 A Deeper Issue?
One of the most concerning discoveries post-collapse was that one wallet allegedly controls 77% of OM’s total supply. This level of centralization poses significant risks in terms of price manipulation and market integrity — something critics have raised red flags about.
💡 What’s Next for OM?
After the crash, OM briefly rebounded to $1.10 — a 200% jump from its bottom — but uncertainty remains. The Mantra team has announced plans for recovery, including potential token buybacks, though details are still limited.
🧠 The Bigger Picture
The OM crash highlights ongoing concerns in the DeFi space:
$$$$$$$Token supply concentrationLack of transparencyVulnerabilities tied to centralized exchange mechanics
Whether this was a flash crash fueled by market panic or a symptom of deeper flaws in tokenomics and governance — it’s a moment the crypto world won’t forget.
#OMToken #MantraDao #CryptoNews #DeFiUpdates #TokenCrash
On April 13, 2025, the crypto community watched in disbelief as OM, the native token of the Mantra ecosystem, crashed by over 90% within just a few hours. The token price dropped from $6.30 to as low as $0.37, wiping out more than $5.4 billion in market capitalization.
This dramatic plunge caught the attention of many, raising questions about the internal workings of the project and the risks involved in centralized exchange activity.
🔍 What Caused the Crash?
According to Mantra’s co-founder, the crash was triggered by “reckless forced closures” initiated by centralized exchanges. Over $71 million in OM positions were liquidated, creating a cascade effect that spiraled the price downward.
Adding to the chaos, blockchain analysts observed that 17 wallets deposited 43.6 million OM tokens (~$227M) to exchanges just before the drop. Some of these wallets were believed to be linked to major investors like Laser Digital and Shorooq Partners — though both firms denied any involvement, and Mantra later claimed the wallets were misidentified.
📊 A Deeper Issue?
One of the most concerning discoveries post-collapse was that one wallet allegedly controls 77% of OM’s total supply. This level of centralization poses significant risks in terms of price manipulation and market integrity — something critics have raised red flags about.
💡 What’s Next for OM?
After the crash, OM briefly rebounded to $1.10 — a 200% jump from its bottom — but uncertainty remains. The Mantra team has announced plans for recovery, including potential token buybacks, though details are still limited.
🧠 The Bigger Picture
The OM crash highlights ongoing concerns in the DeFi space:
$$$$$$$Token supply concentrationLack of transparencyVulnerabilities tied to centralized exchange mechanics
Whether this was a flash crash fueled by market panic or a symptom of deeper flaws in tokenomics and governance — it’s a moment the crypto world won’t forget.
#OMToken #MantraDao #CryptoNews #DeFiUpdates #TokenCrash
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