Mantra Chain $OM Token Surges 35% in 24 Hours.

by

As a seasoned researcher with a knack for deciphering market trends and a soft spot for cryptocurrencies, I find myself intrigued by this sudden surge of the Mantra Chain native token, OM. A 35% increase within 24 hours is certainly not an everyday occurrence in the volatile world of crypto, and it’s always fascinating to witness such events.

In the last 24 hours, the price of the OM token, which is native to the Mantra Chain, experienced a significant jump of approximately 35%, reaching a value of $2.72. As a result, its market capitalization has swelled to around $1.9 billion, marking an increase of about 32%. Additionally, the trading volume for this token saw a substantial surge of over 215% within the same period, culminating in a volume of $867 million. This data is based on reports from CoinGecko.

On several trading platforms, the OM token is frequently exchanged. The busiest transactions occur on Bitunix, where the current OM/USDT rate stands at approximately $2.21 and boasts a 24-hour trading volume of around $33.68 million. This equates to roughly 3.88% of the overall daily volume.

Additionally, platforms such as Ourbit and DigiFinex also play a substantial role in trading activity, with Ourbit processing around 13.23 million dollars worth of trades, and DigiFinex recording approximately 80.2 million dollars in daily transactions.

After a spike in price, it dipped by 3% within a short period due to a large investor (whale) taking out around 1.2 million OM ($2.6 million) from Binance. As per SpotOnChain’s data, this whale has withdrawn approximately 19.47 million OM from Binance since December 24, 2023, with an average price of $0.662.

At present, a grand total of 888.89 million tokens are minted, out of which approximately 855.14 million have been distributed and are currently circulating.

Read More

2024-11-16 20:36