The Crypto market once again saw a major decline, when Om Coin Value fell from $ 7 to $ 0.50 in a few hours. The decline was more than 90%, which caused heavy losses to investors. Let’s understand Mantra (OM) Token Clash What are the main reasons behind the hidden behind.
Why is there such a big decline in OM Coin? Learn reasons
Recently there has been a huge decline in Om Coin Value. The accident has stirred the crypto market. But why this decline has come, know the reasons behind it.
Centralized token supply causes a cause of concern
The Mantra team has about 90% of the OM Coin Provide. Recently, a wallet associated with the team made 3.9 million Om Token Storagefacility on Okx Change, causing a stir in the market. With such a large number of Om Token Movement, investors feared that the team could unload Om Token. This laughed the trust of investors and started a big promote-off.
OTC deals and dumping
According to the information, some tokens were sold at a discount of up to 50% through OTC (over-the-counter) deals. When these tokens came in the market, the investors spread nervous and they started selling their holdings fast.
Trigger liquidation wave
As soon as Om token value Started falling, many investors’ stop-loss and leveraged positions automatically became liquidate. This further increased the selling pressure and the price declined further.
Community’s trust broken
Om Undertaking has been surrounded by controversies such as aircraft blacklist, tokenomics change and roadmap delays earlier. This time the incident confirmed all these doubts and the community lost confidence in the project.
Telegram Group Delete and Silence
Om Coin’s official Telegram Group was deleted immediately after the crash. In the last message, the incident was compared to Luna 2.0. The move created more anger and fear among investors.
Officially refuting
Mantra co-founder John Patrick Mullin and official accounts denied any internal conspiracy. He said that this crash happened only due to market liquidation and talked about investigation, but by then it was too late.
Conclusion
This decline of OM Coin was not just an incident, but the result of poor token control, opaque deals and broken expectations. This incident is a warning that transparency, decentralization and trust of investors are very important to run crypto projects up to long term.
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