OM crashed 90% in just one hour, from $6.2 to $0.6, comparable to a typical 'shitcoin' exit scene.
All of this is not a coincidence. This is not an emotional crash, nor a technical failure, but a systematic release that can be foreseen from on-chain data.
🧩 All signs have long been apparent
✅ Doubt 1: Abnormal price stability before the crash
When the entire market is correcting, OM remains stable in the $6-7 range, seemingly strong, but in reality, there are obvious signs of artificial control.
✅ Doubt 2: Large amounts started flowing into OKX three days ago.
On-chain data shows that over 11 million $OM (worth about $71 million) flowed into OKX within three days.
This wave of deposits is five times the previous daily average, while there are no corresponding withdrawal actions, clearly an abnormal behavior.
🧠 Who is transferring in? Where is the money coming from?
This batch of wallets was almost all created at the same time and funded through Binance, highly suspected to be controlled by the same entity.
One key wallet 0xB37D... was marked on-chain as @LaserDigital_ — one of Mantra's core investors and market makers.
🔍 Worth noting:
LaserDigital invested in May 2024, when the price was exactly $0.7. After this crash, the price 'just returned' to their cost level. This is more like a precise harvesting closure.
💥 The OTC chain has started to break.
Immediately after, another large amount of funds came from @falconxnetwork, selling off through OKX and Binance.
FalconX is a well-known OTC broker in the industry, and this funding is likely from private placements or OTC buyers who purchased OM at a discount.
Most OTC buyers' purchase costs are only 50% of the market price. When the price falls below their cost line, panic selling triggers a stampede.
🧨 Chain reaction fully detonated
✅ Over $70 million market cap was forcibly liquidated on-chain.
✅ Millions in funding severely impacted the liquidity pool.
✅ Most retail investors have no exit opportunities.
Although Bitcoin daily settlements are higher, don't forget that BTC has thousands of times the liquidity. OM is essentially an asset with extremely low liquidity + high control.
🔻 Hidden structural risks behind it
Extremely low liquidity
Current Uniswa OM liquidity is only about $1.4 million, while the market cap is still over $700 million, with a ratio as high as 500-700 times, extremely fragile.
Severe centralized control.
The team holds nearly 90% of the circulating supply, but retail demand is extremely low, creating a false sense of scarcity + the illusion of market cap inflation.
Investors and the team are selling off in the same direction
The market creates FOMO, the team sells off assets outside, investors sell in the market, and ultimately it is all borne by retail investors.
🧾 Conclusion:
This crash is not a 'black swan', but an inevitable result of long-term accumulation of structural problems.
OTC discount selling + market maker withdrawal + centralized control + extremely low on-chain liquidity = a crash model that is easy to detonate.
This event reminds us again:
✅ The so-called 'high market cap' does not equal safety.
✅ OTC distribution + centralized holding structure is a hidden time bomb.
✅ A rise without on-chain liquidity support is just paper wealth.
If on-chain data is transparent, then the real issue is never 'can it be foreseen', but whether you are willing to see the truth.
