🚨🚨 WHY DID OM COLLAPSE? I EXPLAIN THE NEXT PROJECT 🚨🚨
$OM COLLAPSED 90% IN ONE HOUR
WITH $5.5 BILLION IN VALUE VAPORIZED
SEE HOW AND WHY THIS MIGHT HAVE HAPPENED 🧵
IT ALL STARTED YESTERDAY WHEN A POSSIBLE WALLET OF THE $OM TEAM DEPOSITED 3.9 MILLION OM TOKENS ON OKX.
IT WAS WELL KNOWN IN THE CRYPTO SPACE THAT THE OM TEAM HOLDS NEARLY 90% OF THE TOTAL SUPPLY.
IN THE LAST YEAR, THEY USED MM TO INFLATE THE PRICE OF THEIR TOKENS.
NOT ONLY THAT, THEY CHANGED THEIR TOKENOMICS AND EVEN DELAYED THE COMMUNITY AIRDROP.
AFTER THE DEPOSIT ON OKX, THE SELL-OFF STARTED TODAY.
BUT WHY THE 90% COLLAPSE?
IT ALL DUE TO OTC DEALS.
THERE WERE RUMORS THAT OM MADE SEVERAL OTC DEALS AT A DISCOUNT OF 50% OR MORE.
ONCE THE PRICE DROPPED 50%, ALL OTC WHALES' POSITIONS WENT INTO LOSS.
THIS INITIATED PANIC SELLING AS EVERYONE WAS LOOKING TO EXIT FIRST.
THIS CAUSED A LIQUIDATION CASCADE AND MASSIVE SALES.
THAT'S WHY I ALWAYS SAY TO DYOR BEFORE INVESTING.
THERE IS A PROJECT ON THE TOP 20 LIST THAT HAD AN OTC DEAL TODAY. I AM PREPARING YOUR CONTENT AND I WILL EXPLAIN IT TO YOU. STAY TUNED.
