NO

$OM SE COLLAPSED BY 90% IN ONE HOUR
WITH $5.5 BILLION IN VALUE THAT EVAPORATED

HERE'S HOW AND WHY IT MIGHT HAVE HAPPENED 🧵

IT ALL STARTED YESTERDAY WHEN A POSSIBLE WALLET OF $OM OWNED BY THE TEAM DEPOSITED 3.9 MILLION OM TOKENS ON OKX.

IT WAS WELL KNOWN IN THE CRYPTO SPACE THAT THE OM TEAM CLOSELY HOLDS 90% OF THE TOTAL SUPPLY.

LAST YEAR, THEY USED OM TO INFLATE THE PRICE OF THEIR TOKEN.

NOT ONLY THAT, THEY CHANGED THEIR TOKENOMICS AND EVEN DELAYED THE COMMUNITY AIRDROP.

AFTER THE DEPOSIT ON OKX, SALES STARTED TO HAPPEN TODAY.

BUT WHY A 90% COLLAPSE?

IT WAS ALL DUE TO OTC TRADES.

IT WAS RUMORED THAT OM HAD MADE SEVERAL OTC TRADES AT A DISCOUNT OF 50% OR MORE.

ONCE THE PRICE FELL BY 50%, ALL OTC WHALE HOLDINGS TURNED INTO LOSSES.

THIS TRIGGERED PANIC SELLING AS EVERYONE WAS LOOKING TO GET OUT FIRST.

THIS CAUSED A CASCADE OF LIQUIDATIONS AND A MASSIVE SELL-OFF.

THAT'S WHY I ALWAYS SAY TO DO YOUR OWN RESEARCH BEFORE INVESTING.

#SecureYourAssets