$OM š Whale Dump Triggers $17M Loss on OM Token, Sparks Volatility and Investor Jitters.š±
A crypto whale identified as 0x5AC is facing substantial losses on OM holdings. After purchasing 2.9 million OM tokens for $18.7 million last month, the whale deposited 1.724 million tokens into Binance, potentially realizing a loss of approximately $10.11 million. The remaining holdings are valued at around $595,000, indicating an unrealized loss of about $6.97 million, triggering a drop in investor confidence. Despite its strong fundamentals and growing DeFi presence, this sell-off may cause further price volatility. If OM fails to hold above key support around $0.32, it could retest lower levels. However, if buying resumes near support, a rebound toward $0.38-$0.40 is possible. Traders should watch for volume spikes and broader market sentiment before entering positions. Risk remains elevated in the near term.
