Recently, altcoins have been experiencing a lot of issues, and it feels like the market is a bit cold. The big players seem to think that if they don't act soon, they might lose their chance. First, on April 1st, ACT, claiming to be the leader in AI memes, collapsed, dragging down a bunch of meme altcoins and kicking off various performances in the altcoin market for April. The project team attributed this avalanche to the reduction of leverage in Binance contracts and the selling by market makers. Half a month later, the price of ACT is still flat, showing no signs of recovery, and it is expected to drop again soon. Not long after, on April 13th, the big player pulled OM back to pre-liberation levels in a dramatic display.

Before the crash, OM was once ranked thirtieth in market capitalization across the network and was touted as the hot RWALayer-1 blockchain. However, the most well-known aspect of this project is still the currently popular figure in the Chinese crypto community, Ni Da, who was an early builder of OM. The direct cause of OM's collapse was reportedly due to reckless forced liquidation by a centralized exchange. However, the actual reason is said to be infighting between the project team and market makers. Recently, as more information has come to light, it seems that the project team's focus is not on developing the project, but mainly on managing the centralized exchange and maintaining market capitalization. It feels like market makers have been dropping the ball frequently lately, and it's unclear if it's intentional. An IP, which claims to have abundant funds, also collapsed by a third in the middle of the night only to quickly rebound. Some traders believe that this flash crash might have been a deliberate attempt by the project team to manipulate the market and create a short squeeze, as the price trend of the IP token is also heavily controlled by large players.