John Patrick Mullin, the founder of the mantra platform, announced that a total of 300 million oms will be removed from the supply. While it was aimed to seriously reduce supply with token burning, discussions between investors flared up. In the same period, large transfer movements observed in the 0x5AC whale wallet caused speculation. While the value of the OM TOKE was experienced harsh decreases, the volume of transaction increased remarkably.
The transition to the new era with supply reduction is aimed at the new era
Mullin, 150 million om token will be burned in the first stage, the same amount of a token in the coming days, said it was planned to be burned. With the implementation of this plan, the total supply is expected to decrease from 1.82 billion to 1.67 billion. This decrease means a decrease of over 26 %in the quantity of token. Thus, the stinging returns obtained by OM owners are expected to increase.
The burning process is expected to be completed on April 29th. However, the process can be effective not only on supply but also on investor confidence. The harsh depreciation of the OM Token in recent weeks is being tried to be compensated for this move. The decline of the token from $ 6.30 to $ 0.55 in mid -April has left investors vulnerable.
Some experts emphasize that reducing token supply can provide short -term price support, but additional steps for sustainable recovery. Particularly in market sensitivity, especially in such periods, it is vital.
Whale mobility made the investor anxious
Mantra’s burning plan maintained its place on the agenda, while the 0x5AC coded large wallets caused tension in the market. According to The Data Nerd, this wallet collected 2.9 million om token from an average level of $ 6.45 last month and made a total investment of $ 18.7 million. However, two days ago, the transfer of 1,724 million toks to another stock market with a value of approximately $ 1 million increased concerns about a possible wave of sales.
It is estimated that a damage of approximately $ 10 million may occur if this transfer is sold. The sale of the whale wallet at these levels may further suppress the price of OM in the market. On the other hand, some analysts say that such transactions can only be the process of re -positioning.
While uncertainty was dominated by investors, the rhetoric of “the opportunity to buy from bottom” began to spread on social media. Some effective commentators argue that the OM Token can see the $ 1 level again. On the other hand, cautious names to such optimistic estimates think that the team has taken late action and the impact of the burning plan may remain limited.
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.
