MANTRA | $OM
WHAT HAPPENED?
$OM Flash Drop – What Triggered the Sharp Move on May 4th?
On May 4th at 16:30 (EET), OM/USDC saw a sudden drop from approx. 0.4232 → 0.3934 USDC (~7%) in minutes.
No official news or technical failures were reported.
Likely reasons include:
• Forced liquidations of large positions – low liquidity amplified the drop‼️
• General market pressure – altcoins across the board down, BTC -0.8%, $160M in 24h liquidations‼️
• No response from the OM team or Binance – no scheduled announcements or system alerts‼️
Binance’s OM/USDC pair only accounts for ~4.75% of OM’s global 24h volume, indicating how easily large orders can move the market.
Conclusion: OM has recovered from past volatility but remains highly sensitive to large orders. Active monitoring is essential when trading low-liquidity pairs.
