The Ghost of FTX Past? Allegations Haunt Mantra (OM) Following Shocking 90% Drop
- Mantra (OM) token price collapses more than 90% in single day’ shock event
- Lookonchain data points to massive whale dumps (43.6 million OM) preceding crash
- Crash revives past allegations about Mantra team/history (WuBlockchain)
Investors watched in shock as Mantra (OM) – a real-world asset tokenization protocol, plunged by over 90% in just one day, dropping from a daily high of $6.34 to a low of $0.4222 before recovering slightly to $0.7597.
Just two months ago, OM was trading near its all-time high of $9, as per CoinMarketCap data, making this one of the steepest collapses in recent altcoin history, uneasy comparisons to past infamous crypto failures such as the LUNA/UST crash.
Did Whale Dumps Trigger Mantra’s Collapse?
The sell-off doesn’t seem entirely market-driven. This is because blockchain analysis firm Lookonchain identified at least 17 wallets that dumped a total of 43.6 million OM tokens (worth $227 million at the time) into exchanges since April 7.
Related: Tapping the $30 Trillion Real World Assets Market: Top 5 RWA Projects Profiled
This amount represented 4.5% of …
The post The Ghost of FTX Past? Allegations Haunt Mantra (OM) Following Shocking 90% Drop appeared first on Coin Edition.
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The Ghost of FTX Past? Allegations Haunt Mantra (OM) Following Shocking 90% Drop
- Mantra (OM) token price collapses more than 90% in single day’ shock event
- Lookonchain data points to massive whale dumps (43.6 million OM) preceding crash
- Crash revives past allegations about Mantra team/history (WuBlockchain)
Investors watched in shock as Mantra (OM) – a real-world asset tokenization protocol, plunged by over 90% in just one day, dropping from a daily high of $6.34 to a low of $0.4222 before recovering slightly to $0.7597.
Just two months ago, OM was trading near its all-time high of $9, as per CoinMarketCap data, making this one of the steepest collapses in recent altcoin history, uneasy comparisons to past infamous crypto failures such as the LUNA/UST crash.
Did Whale Dumps Trigger Mantra’s Collapse?
The sell-off doesn’t seem entirely market-driven. This is because blockchain analysis firm Lookonchain identified at least 17 wallets that dumped a total of 43.6 million OM tokens (worth $227 million at the time) into exchanges since April 7.
Related: Tapping the $30 Trillion Real World Assets Market: Top 5 RWA Projects Profiled
This amount represented 4.5% of …
The post The Ghost of FTX Past? Allegations Haunt Mantra (OM) Following Shocking 90% Drop appeared first on Coin Edition.
Read More