Inside the Collapse of $OM: A Coordinated Attack? Binance’s Role Under Scrutiny
$OM
#OM
On April 14, $OM (Mantra) experienced a dramatic 95% crash within just a few hours, sending shockwaves through the market. But this wasn’t a typical case of market volatility. After a deep dive into the data, it’s clear this was a deliberate, strategic attack involving key market players. The question remains: who orchestrated this?
OKX Wrongly Accused—Spotlight Shifts to Binance
Initial speculation pointed fingers at OKX, but further analysis reveals otherwise. The true source of the sell-off appears to be Binance’s perpetual contract market. The selling pressure from Binance was significant enough to ripple across the broader market, destabilizing liquidity across platforms.
Unprecedented Volatility
Binance’s perpetual market was the first to show extreme price swings, sparking a chain reaction. As prices plummeted, other exchanges struggled to keep up, exposing massive liquidity gaps. This swift market-wide reaction hints at powerful capital behind the scenes, executing a calculated move.
CVD Data Reveals Telltale Signs
Cumulative Volume Delta (CVD) analysis paints a clear picture: while Binance's perpetual CVD saw a sharp drop, OKX's CVD actually rose—suggesting arbitrageurs were capitalizing on the chaos. This divergence strongly implies that a single entity may have been manipulating the market, triggering a cascade of forced sales.
A Shadowy Whale on OKX
Adding to the mystery, large limit sell orders appeared suddenly on OKX, likely from a major player liquidating a substantial position in under a minute. Whether this was driven by leaked information or insider foresight remains unknown, but the timing suggests deliberate execution.
Tracing the Source On-Chain
On-chain data reveals a wallet—active for over 448 days and linked to OKX—that had been staking $OM long before the crash. The sell-off appears connected to this wallet, raising serious questions about its operator’s knowledge and intentions.
Final Thoughts
This wasn’t a random market dip. The precision, the timing, and the players involved all point to a coordinated strike. Both Binance and OKX may be more aware of the situation than they’ve let on. Beneath the surface of this crash lies a premeditated and sophisticated market manipulation—one that may have only just begun to unravel.
#Om
#OM
On April 14, $OM (Mantra) experienced a dramatic 95% crash within just a few hours, sending shockwaves through the market. But this wasn’t a typical case of market volatility. After a deep dive into the data, it’s clear this was a deliberate, strategic attack involving key market players. The question remains: who orchestrated this?
OKX Wrongly Accused—Spotlight Shifts to Binance
Initial speculation pointed fingers at OKX, but further analysis reveals otherwise. The true source of the sell-off appears to be Binance’s perpetual contract market. The selling pressure from Binance was significant enough to ripple across the broader market, destabilizing liquidity across platforms.
Unprecedented Volatility
Binance’s perpetual market was the first to show extreme price swings, sparking a chain reaction. As prices plummeted, other exchanges struggled to keep up, exposing massive liquidity gaps. This swift market-wide reaction hints at powerful capital behind the scenes, executing a calculated move.
CVD Data Reveals Telltale Signs
Cumulative Volume Delta (CVD) analysis paints a clear picture: while Binance's perpetual CVD saw a sharp drop, OKX's CVD actually rose—suggesting arbitrageurs were capitalizing on the chaos. This divergence strongly implies that a single entity may have been manipulating the market, triggering a cascade of forced sales.
A Shadowy Whale on OKX
Adding to the mystery, large limit sell orders appeared suddenly on OKX, likely from a major player liquidating a substantial position in under a minute. Whether this was driven by leaked information or insider foresight remains unknown, but the timing suggests deliberate execution.
Tracing the Source On-Chain
On-chain data reveals a wallet—active for over 448 days and linked to OKX—that had been staking $OM long before the crash. The sell-off appears connected to this wallet, raising serious questions about its operator’s knowledge and intentions.
Final Thoughts
This wasn’t a random market dip. The precision, the timing, and the players involved all point to a coordinated strike. Both Binance and OKX may be more aware of the situation than they’ve let on. Beneath the surface of this crash lies a premeditated and sophisticated market manipulation—one that may have only just begun to unravel.
#Om
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.
OM
0.3809
-0.54%