The MANTRA DAO (OM) token plummeted by over 90% in a matter of hours—dropping from $6.28 to approximately $0.71—wiping out more than $5 billion in market capitalization.
Following the crash, analysts observed massive transfers of OM tokens to wallets on centralized exchanges—most notably Binance and OKX—totaling around $27 million.
Although MANTRA’s CEO denied any sell-off by the team or investors, independent analysts pointed to the possibility of insider selling immediately prior to the crash.
While Binance supported the "forced liquidation" narrative, OKX hinted at sudden changes to the token's mechanism amidst ongoing investigations into the abrupt decline.
#om $OM
Following the crash, analysts observed massive transfers of OM tokens to wallets on centralized exchanges—most notably Binance and OKX—totaling around $27 million.
Although MANTRA’s CEO denied any sell-off by the team or investors, independent analysts pointed to the possibility of insider selling immediately prior to the crash.
While Binance supported the "forced liquidation" narrative, OKX hinted at sudden changes to the token's mechanism amidst ongoing investigations into the abrupt decline.
#om $OM
