While the recovery signals are seen in the crypto currency market, the most powerful “real world assets” (RWA) coin Mantra (OM), since the end of the week has lost more than 90 percent and shocked investors. The price of om decreased from 6 dollars to $ 0.43 at a time, while the transaction volume jumped over $ 2 billion under $ 100 million. This sudden decline in the price is in the crypto currency world Terra-luna collapseNu is considered as the harbinger of a scandal reminding.
Sudden Sales in Om Coin: panic wave
The depreciation of a wallet alleged to be linked to the team is 3.9 million units OM COINbegan with the transfer of the OKX stock exchange. This process brought up the allegations that 90 percent of Coin’s supply were controlled by internal people. As a matter of fact, with the panic, the price of the Altcoin fell from $ 6 to $ 0.48, and with this decrease, it became a vapor of approximately $ 6 billion.
The effect of the incident was not limited to this. The pre -AirDrop platform, which was held a month ago, seriously shook the investor confidence in the blacklist in a non -transparent manner on the grounds that more than 50 wallets were “boots .. According to allegations reflected in the backstage, some people from the inside are 50 percent discount with OTC (overnight) transactions coin While the sale of these sales, the stop-loss orders and the liquidation of leveraged positions caused a chained collapse.
Claims of Manipulation towards Mantra
Since the third quarter of 2023 has increased its value over 200 times, it is claimed that there is largely market manipulation behind this rise in Om Coin. AltcoinThe arbitrary change of toxonomics of the 90 percent of the supply is kept inside, the delayed community AirDrop and Tier-1 market makers with the support of prices are among the allegations that prices are artificially inflated.
The sale of 4 million OM Coins, which took place in a low liquidity environment at the weekend, attracted the price below $ 3 and damaged the OTC buyers. Liquidations took place in succession market makers and large investors lined up for sales. It was also observed that the second largest om wallet transferred a significant amount of coins to the stock market.
All these developments are deliberately by investors with manipulation.Rug Pull”So it shows that it is trapped by an organized property evacuation. In this case, which has similarities with Terra and FTX collapses, the investor confidence was seriously shaken.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
