$OM plummeted 95%, the truth behind the leveraged liquidation bloodbath! $BNB's lending market monopoly has been broken
On the evening of the 13th, $OM experienced an epic crash in 90 minutes, dropping from $6.3 to $0.37, a 95% decline that sent the market into a frenzy! The official statement claimed innocence: large account liquidations triggered a chain reaction of liquidations, unrelated to the project. On-chain data revealed that since April 7, over 43.6 million OM tokens have flooded into the exchanges, suspected to be strategic investors' involvement.
Scenario recap: Large accounts pledged OM to leverage, a price correction triggered liquidations, liquidity dried up, sell orders created a death spiral! But is that all there is to the truth?
The community fired back: MANTRA relies on narrative to hold the scene, with a TVL of only $13 million, but an FDV as high as $9.5 billion, a valuation bubble of 730 times! The circulating supply is small, and retail investors can't escape. Leverage is a knife, liquidity is life, high FDV + low TVL = a ticking time bomb!
Speaking of another lively matter, @lista_dao has struck big, overturning @VenusProtocol's dominance in $BNB lending!
Venus, relying on the fact that no one dared to provoke it, kept its lending rates high: borrowing 1 BNB, the interest surged from 5% to 29.68%, coasting on past profits for years, living off new offerings to reap profits.
As a result, Lista emerged, capping the lending rate at 12.7%, and group members flocked to move, causing Venus's rates to be directly driven down to 5%!
If they don't change, Venus might end up crying.
This wave is not only a lesson for $OM but also a signal of recovery for the BNB chain and Lista.
Lending and leverage must be approached with caution, liquidity is vital, and investments need to be made with clear eyes!
