⚡️ $OM Token Crash: 90% Drop and $6B Wiped Out in One Hour

Last night, the token OM from the MANTRA project experienced a dramatic collapse, plummeting from $6.30 to under $0.50 in less than an hour, resulting in over $6 billion in lost market cap.

### 🔍 Key Reasons for the Crash:

➡️ Forced Liquidations:

According to MANTRA co-founder John Patrick Mullin, the crash was triggered by "reckless forced closures" of positions on centralized exchanges during a period of low liquidity.

➡️ Insider Trading Suspicions:

Some analysts noticed large transfers of OM tokens to OKX and Binance just before the crash, raising concerns about possible insider trading.

This situation is being widely compared to the Terra ecosystem collapse in 2022, underlining the severity of the event.

👀 Just before the price dropped, at least 17 wallets sent 43.6 million OM (worth $227M at the time) to exchanges, representing about 4.5% of the total supply.

According to Arkham, two of those wallets are linked to Laser Digital, a strategic investor in the Mantra project.