What to know:
- Alas! Mantra’s OM token has suffered a most unfortunate decline, losing 90% of its value posthaste after a staggering $227 million was dispatched to exchanges.
- In a most curious turn of events, the esteemed Nomura Group’s Laser Capital has vehemently denied any involvement in this financial debacle.
- The gallant team at Mantra attributes this calamity to the capricious nature of the market and a rather dramatic liquidation cascade.
In the charming land of Switzerland, the trading firm known as Laser Digital, a proud member of the Nomura Group, has taken it upon themselves to refute any insinuations of their involvement in the unfortunate flash crash of the Mantra token, which has seen OM plummet by a staggering 90%. How scandalous!
“The assertions circulating on the ever-busy social media, which link our dear Laser to the so-called ‘investor selling’, are nothing but a tapestry of inaccuracies and misleading notions,” the firm proclaimed on X, with a hint of indignation.
In a display of transparency that would make even the most virtuous of characters proud, Laser Digital has graciously shared their controlled Mantra wallet addresses, none of which reveal any deposits to exchanges or selling activities. A most noble gesture, indeed!
Yet, speculation continues to swirl like a tempest in a teapot regarding the reasons behind the violent collapse of OM. The Mantra team, with a flair for the dramatic, insists that the calamity was precipitated by broader market pressures and the ruthless actions of centralized exchanges, which led to a veritable cascade of liquidations. How thrilling!
In a statement that could rival the most dramatic of novels, OKX has declared that the price volatility was ignited by a sudden spike in trading volume, coupled with an initial price decline across various exchanges, before it spread like wildfire to the wider market. Truly, a tale of caution!
Before this unfortunate crash, a total of 17 wallets had deposited a staggering 43.6 million OM (valued at $227 million) to exchanges, which incited a panic among holders, particularly as the Mantra team retains a commanding 90% of the token’s circulating supply. A most alarming sell-off ensued!
As it stands, OM is currently trading at a mere $0.57, a disheartening drop of 90% from the day’s high of $6.14, with trading volume having surged by an astonishing 3,425% to $2.6 billion, according to the ever-reliable CoinMarketCap. What a turn of events! 😱💸
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2025-04-14 19:18