#om Analysis of the situation surrounding the cryptocurrency OM
🤷♂️**Brief history of the event**🤷♂️
On April 13, 2025, the cryptocurrency OM, belonging to the Mantra project, experienced a significant drop in its price, falling from approximately $6.13 to a minimum of around $0.45 in just one hour. This sharp movement led to mass liquidations of open positions and a dramatic decrease in the project's market capitalization, shrinking from $5.9 billion to approximately $463 million. However, after a short recovery period, the price returned to a level of about $0.81.
〽️ **Causes of the crash**〽️
The CEO of Mantra, John Mallin, linked the event to the mass selling of large volumes of OM by major players on the exchange. This could have triggered a chain of automatic position closures for traders set to buy below certain levels. Despite the lack of evidence of the project team's actions, users expressed concerns about possible market manipulation and the lack of transparency from the management. Some analysts see similarities between the situation with the Terra project, which previously faced similar issues.
