Blockchain Analysis Platform Lookonchain reported that the OM Tokens of the Mantra project were transferred to the large stock exchanges. The transfers in question, the weekend before the sudden price decrease appeared. This timing is carefully examined among crypto currency investors and commentators. The amount of token transferred to the extent that it can create a new problem of trust in the market.
Big transfers headed for stock exchanges
According to Lookonchain data, a total of 43.6 million OM Token from at least 17 different wallets was sent to leading crypto currency exchanges such as Binance and OKX. While the total value of the transfers reached millions of dollars, the fact that these transactions took place just before the price collapse began to question their market behavior.
The data is remarkable not only in terms of volume, but also in terms of timing. Analysts emphasize that such transactions may affect direct price movements, while reminding similar scenarios in the past. The transportation of OM Tokens to the Stocks in such a short time, investors’ sales pressure or coordinated exit raised questions.
Suspect Wallets and Explanations
The fact that some transfer wallets were associated with Laser Digital also started another debate. The allegations of “investor sales ılan spreading on social media created speculative pressures on the market. However, the Laser Digital Front rejected the allegations in a certain language.
“Laser has not invested any OM Token to OKX. The allegations circulating on social media are misleading,” the company said in a statement from the company. Mantra CEO JP Mullin, on the other hand, also made a statement on the issue and attributed its sudden price drop to their position closure in low liquidity moments. Mullin argued that this was not directly related to the project.
Price decrease and loss of market value
OM Token, after the weekend developments from $ 6.35 to 0.37 dollars decreased by about 94 percent decreased. This striking depreciation led to a harsh contraction in the market value of the project. According to the data, the total market value of Mantra went down from $ 6,11 billion to $ 683.3 million.
These harsh movements in a short time revealed the volatility in the nature of the crypto money market once again. In particular, the timing of transfers and suspicious wallet movements have led investors to reshape risk perception. Market data have once again proved that crypto money investments should be paid attention not only at prices but also for over -chain data.
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.
