❗What Happened to $OM? Here’s the Full Breakdown
In just one hour, $OM plummeted by over 90%, wiping out $5.5 billion in market value. Here’s what really went down:
1. Artificial Price Pumping: Over the past year, the team reportedly worked with market makers to artificially inflate the token’s price, while quietly changing the tokenomics and delaying the promised airdrop. That raised a lot of red flags.
2. Heavy Sell-Off Begins: A large deposit triggered heavy selling pressure. But what caused such an extreme drop?
3. OTC Deals at a Discount: Rumors suggest that $OM offered significant over-the-counter sales with up to 50% discount. Once the market price dropped to match those OTC levels, panic spread fast.
4. Panic + Liquidations: OTC buyers, whales, and retail investors rushed to exit, leading to a cascade of liquidations and a brutal chart collapse.
Takeaway:
Always DYOR — especially with tokens that have centralized control or unusual blockchain activity.
There’s also talk of another top 20 project doing a fresh OTC deal… I’ll be digging into that and will share details soon.
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