Many people think this round of black swan events ends with OM, but it is far from over.

📉 Recently, $IP plummeted 25% without warning, catching the community off guard. Such plunges are not 'accidents'; there have been signs on-chain.

🔍 Review of OM's crash: Not without reason

Although the Mantra team insists they 'have never sold', on-chain data shows otherwise:

  • Over $227 million OM flowed into CEX before the crash

  • Most withdrawal addresses point to investors/market makers

  • Trading is concentrated and synchronized, exhibiting characteristics of 'quasi-insider trading'

The essential problem of OM:

  • Lack of a complete ecosystem, heat greater than value

  • Highly controlled + extremely low on-chain liquidity

  • OTC funds buying at low prices, causing panic sell-off after breaking market bottom

⚠️ Is $IP next?

Currently, the market's concerns about $IP are ongoing, but no concentrated selling behavior has yet been observed on-chain.

However, potential risks still exist:

  • Overvalued, disconnection between market cap and fundamentals

  • VC OM crash, reducing holdings of $IP in advance

  • Community enthusiasm is unusually high, but on-chain liquidity support is insufficient

📉 A 25% drop may just be the beginning; remain vigilant.

🧠 The next batch of 'candidate black swans'? — MOVE & LAYER

The following phenomena deserve close attention:

  • Large funds from non-public wallets concentrated into CEX

  • Lack of real buying support after rapid price surge

  • Community enthusiasm surges, but on-chain liquidity cannot keep up

This is a typical sign before an on-chain 'explosion'.

🛡️ How should investors guard against risks?

We have not yet entered the stage of 'all projects will explode', but the structural risk of explosions is rising rapidly.

📌 Self-questioning checklist:

✅ Does the token have sufficient on-chain liquidity?

✅ Is it highly controlled?

✅ Is the community genuine enthusiasm or KOL control?

✅ Are there any undisclosed traces of OTC distribution?

⛔️ Do not use 'high market cap = safe' as a judgment criterion!

🎯 Summary: The collapse of OM is not an accident, but a systematic release.

🔺 $IP, $MOVE , $LAYER and others show signs of on-chain anomalies

📉 OTC + market makers + liquidity exhaustion = crash triggers

"The real danger does not come from the event itself, but from our neglect of the truth that has long been written on the chain."

Now is not the time to panic, but to return to the chain and look for truly safe investment strategies.