In the last week, the crypto market was caught off guard by the brutal drop of more than 90% in the value of the $OM token (Mantra). The project, which had amassed over $5.5 billion in FDV (Total Valuation), melted away in a few hours.


📉 The question that won't go away:

Are we facing another collapse like that of Terra Luna in 2022?



🧐 What Happened to $OM?


The $OM token was on a strong rise, fueled by optimism around Mantra Chain, a network focused on tokenizing real assets (RWA). However, at the turn of the month, the price fell from $1.09 to less than $0.09, leaving thousands of investors at a loss.


The first on-chain analyses identified:

  • Massive sales made by old wallets.

  • Suspicious transfers to centralized exchanges.

  • No clear communication from the team during the collapse.



💥 Déjà vu of 2022?


The resemblance to the Terra/LUNA case is inevitable:

  • Token with high hype,

  • Billion-dollar FDV,

  • Sudden collapse,

  • Abandoned community.


But different from LUNA, Mantra has not yet confirmed if there was a technical failure, external attack, or market manipulation.



🚨 Manipulation or Strategic Selling?


The movement of large whales hours before the drop raised suspicions. Some analysts suggest that there was "artificially inflated price" to allow insiders to exit at the top.


If this is confirmed, we enter the realm of "structured dump", a practice that the crypto community has been denouncing for a long time.



💡 What Did We Learn from This?


Be it LUNA, FTX, SAFEMOON, or now $OM, the lesson is always the same:


"Don't invest in hype. Invest in fundamentals."


Before buying a new token:

  • Analyze the circulating supply vs. total;

  • See who the initial investors are;

  • Study the tokenomics and the unlocking schedule;

  • Follow the project's social media in search of transparency.


🔮 What Could Happen Now?


The $OM token is still being traded, but many users are asking:

  • Deeper on-chain investigation;

  • Exclusion of the asset from centralized exchanges, as a form of protection for investors;

  • And even collective compensation, if there is proof of fraud.

📊 Conclusion


The Mantra case serves as a warning: even projects with "institutional labels" can hide gigantic risks. The crypto market is a land of opportunities — but also of well-masked traps.


Stay alert. Question. Study. And only invest in what you understand.

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