Insomnia1985
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⚡️ The Crash of the OM Token: A 90% Plunge and $6 Billion Loss in One Hour
Last night, the OM token from the MANTRA project experienced a rapid decline: the price plummeted from $6.30 to less than $0.50 in under an hour, resulting in a loss of over $6 billion in market capitalization.
Reasons for the Crash:
➡️Forced Liquidations: According to co-founder John Patrick Mallin, the crash was caused by "reckless forced liquidations" of positions on centralized exchanges in a low liquidity environment.
➡️Suspicion of Insider Trading: Some analysts noticed large transfers of tokens to exchanges shortly before the crash, raising suspicions of potential insider trading.
Many are comparing the current situation to the collapse of the ecosystem in 2022, highlighting the scale of what has occurred.
The very short you've always dreamed of jumping into ☔️
Last night, the OM token from the MANTRA project experienced a rapid decline: the price plummeted from $6.30 to less than $0.50 in under an hour, resulting in a loss of over $6 billion in market capitalization.
Reasons for the Crash:
➡️Forced Liquidations: According to co-founder John Patrick Mallin, the crash was caused by "reckless forced liquidations" of positions on centralized exchanges in a low liquidity environment.
➡️Suspicion of Insider Trading: Some analysts noticed large transfers of tokens to exchanges shortly before the crash, raising suspicions of potential insider trading.
Many are comparing the current situation to the collapse of the ecosystem in 2022, highlighting the scale of what has occurred.
The very short you've always dreamed of jumping into ☔️
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
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