This is the most amusing news I saw today. OM dropped 90% at dawn, yet its drop this year is less than 30%, while Ethereum has nearly dropped 60% this year. Before the crash, OM had a circulating market value of around 6 billion USD, ranking in the TOP 30 of the cryptocurrency market, which is considered a large market cap token. I didn’t expect it to drop like a fragile dog.
Someone on social media shared that they lost 1.36 million USD; playing with altcoins can be truly miserable! Two weeks ago, ACT crashed 60%, and today OM crashed 90%. Altcoins can die on a whim; how could there possibly be an altcoin season? The retail investors probably won't dare to play anymore.
In the past, the media gave me the impression of being just for the paycheck, even if the industry has a bad reputation, they would not dare to offend it for fear of losing their jobs. Today, I was quite surprised to see that the media immediately stopped promoting contract trial experiences to college students after the explosive news about the exchange. Although the media did not name which exchanges, everyone knows clearly that Bybit and Bitget are the most prominent ones, stepping up to take the hit!
Everyone knows how campus loans have ruined countless college students, and now the cryptocurrency world is introducing campus contracts. Isn't this ruining the future successors of our country? It must be prohibited! This crisis management is also quite amateurish; some university blockchain organizations quickly clarified that there is no such matter. In fact, anyone with a bit of common sense knows that virtual currency exchanges are explicitly banned in the country. The university's blockchain association represents not only the student body but also the school's reputation. As long as they cooperate with virtual currency exchanges, they are just dirtying their own names, which can never be cleaned off no matter how hard they try. As for the exchanges, everyone knows they are gambling houses. Gambling houses should mind their own business and quietly make their fortunes; there’s no need to stick their necks out and invite trouble. If the exchanges really want growth, they can collaborate with blockchain project parties and sponsor them from behind the scenes. Doing it so blatantly now is just asking for trouble from regulatory authorities.
1. Market News
1. Trump met with crypto-friendly Salvadoran President Bukele.
2. Sources: Payment giant Visa will join the stablecoin alliance USDG led by Paxos. 3. He Yi: Binance has no listing fee, but there are different types of listing airdrops. 4. Bitget responds to campus ambassador controversy: has always adhered to its bottom line and will launch the 'Green Campus Program.'
2. Project Updates
1. GoPlus completed its fifth batch of GPS repurchases, with the current token repurchase volume exceeding 175 million.
2. MANTRA investor Shorooq: During the OM crash, neither the fund nor the MANTRA team sold any tokens.
3. OKX CEO Star: OM's flash crash is a major scandal, and a complete report will be prepared.
4. The DePIN project Solix completed a $29.5 million financing, led by Eclip Foundation.
3. Market Trends
1. BTC fell below 84,000 USDT.
2. OM plummeted 90% today, but its performance this year is still better than ETH.