OM Crash!!!
The short-sellers are enjoying it
【A certain whale group deposited 14.27 million tokens into OKX before the OM crash, still holding part of a floating loss of $406.3 million】Just three days before the crash, this group of fresh OM whales transferred 14.27 million OM (worth about $91 million at the time) to OKX at an average price of $6.375. As early as the end of March, they collectively withdrew 84.15 million OM from Binance at a total price of about $564.7 million (average $6.711). Now, after experiencing a drop of about 90%, the remaining 6.908 million OM they hold is worth only $6.22 million—expected total losses could reach up to $406.3 million. SpotOnChain indicates that they may have hedged this position elsewhere, which could be one of the reasons for this crash.
