šØ Sharp Correction of $OM up to -90% ā What Really Happened? šØ
The $OM token belonging to the MANTRA project has experienced a significant price drop of up to -90%, which has triggered widespread concern and panic in the crypto community.
However, based on the official clarification from MANTRA, this extreme drop was not caused by sell-offs from the internal team, advisors, or early investors. All those tokens are still locked and follow the established vesting scheme, with wallet addresses that can be publicly audited.
ā The main cause of this extreme movement is said to come from forced liquidation carried out by one of the centralized exchanges (CEX) against an account with a large position in the $OM token.
š This liquidation occurred on Sunday night UTC (Monday morning Asia time) ā a period historically known as a time with low market liquidity. This exacerbated the existing price pressure and made the correction impact deeper than it should have been.
š The MANTRA party stated that the timing and depth of the correction indicate that the account position was liquidated suddenly without sufficient warning. They also highlighted the possibility that this could happen due to system negligence, or even internal strategies from the exchange.
Notes: Always Do Your Own Research. This is Not Promotion & Not Financial Advice.
Anyway, Here I include my Version of the Mantra Outlook ā”ļø $OM š
