Terra Luna (2)

$OM CRASHED 90% IN AN HOUR
WITH $5.5 BILLION IN VALUE GOT EVAPORATED

HERE'S HOW AND WHY IT COULD HAVE POSSIBLY HAPPENED 🧵

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

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

IN THE PAST YEAR, THEY HAVE USED MM TO INFLATE THEIR TOKEN PRICE.

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

AFTER OKX DEPOSIT, THE SELLING STARTED TO HAPPEN TODAY.

BUT WHY 90% CRASH?

IT WAS ALL DUE TO OTC DEALS.

IT WAS RUMOURED THAT OM HAS DONE SEVERAL OTC DEALS WITH 50% DISCOUNT OR MORE

ONCE PRICE DUMPED 50%, ALL OTC WHALES HOLDINGS WENT INTO LOSS.

THIS STARTED THE PANIC SELLING AS EVERYONE WAS LOOKING TO EXIT FIRST.

THIS CAUSED A LIQUIDATION CASCADE AND MASSIVE SELLING.

THIS IS WHY I ALWAYS SAY TO DYOR BEFORE INVESTING.
$OM