Why did the OM coin drop? What caused the collapse?
The OM coin (MANTRA platform) was one of the coins that people had high hopes for, especially in the decentralized finance world, but suddenly there was a strong drop in price. Let's see what the reasons are:
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1. Whale movements
One of the main reasons was the sale of large amounts of the coin by massive wallets (whales), which pressured the price and caused the market to drop. When a whale sells, people rush to follow suit out of fear of a collapse.
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2. Negative news about the project
Rumors (some of which have been confirmed) about internal problems within the team, and the postponement of updates that were supposed to happen. Investors have lost trust and have started to withdraw.
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3. Weak media support
The team has greatly reduced its presence on social media, there are no strong advertisements, and no interaction with the community. This makes people feel that the project is 'dead'.
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4. The general market is volatile
The decline is not just related to OM; most coins have been affected by fluctuations in the global market and increased scrutiny on cryptocurrency platforms. However, OM was affected more because it is not one of the major coins.
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5. Liquidity withdrawal
Some investors withdrew their liquidity from the protocols associated with MANTRA, especially from staking and lending services, which increased the selling pressure.
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Summary
The collapse of OM did not come from nowhere; it is the result of a mix of:
Internal problems within the team
Lack of trust in the project
Sudden sell-offs
Weak interaction of the team with followers
The project is still ongoing, but if they do not return to working hard and restoring trust, the coin will continue to decline.
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