OM Token’s Wild Ride: Price Crash & Liquidations Galore!

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Ah, open interest (OI) – it’s the fickle creature that loves to dart and weave, and today, it’s down more than 13%, tumbling to a modest $139 million. A grand spectacle of leveraged positions pulling back in shame. Don’t get too comfy though, folks – the decline still leaves longs in the lead, at least on the major platforms. Binance’s OM/USDT pair holds a long/short ratio of 2.23, while OKX clocks in at 1.79. Even the big boys aren’t backing down, with Binance showing a sturdy 1.78 ratio on the long side. Courageous or foolish? You decide.

The liquidations, oh the liquidations! In just the last 24 hours, we watched $3.8 million disappear into the abyss – most of it coming from the overzealous bulls who thought they could tame the market. And as if that wasn’t enough, another $800,000 was wiped out in just 12 hours, all of it from those who placed their bets on the wrong side of the market. You can almost hear the sound of despair from here.

Where’s all the action? The usual suspects: Binance, Bybit, and Bitfinex. It seems that’s where the OM derivatives party is still happening, but don’t hold your breath on the momentum – there’s a whiff of hesitation in the air. Maybe it’s the broader market, maybe it’s the recent price swings, or maybe just maybe… people are realizing this isn’t the wild ride they thought it was. Time will tell.

Oh No, Not the Price Crash!

Hold onto your hats, folks, because on April 13, 2025, the MANTRA OM token had a *dramatic* price collapse. We’re talking about a staggering 90% plunge, from around $6.30 down to a sad little under $0.50 in under an hour. That’s not a crash, that’s an asteroid impact. Over $5 billion in market cap vanished faster than a magician’s trick. And just to add insult to injury, $71.8 million worth of liquidations followed suit, leaving traders feeling a bit like they’d just been hit by a train.

But wait, there’s more. Blockchain analysis uncovered that 17 wallets (yes, seventeen!) dumped a total of 43.6 million OM tokens into exchanges – worth around $227 million at the time – right before the crash. You know what they say about too many eggs in one basket, right? These moves have sparked rumors of insider activity, and with the MANTRA team allegedly controlling up to 90% of the total OM supply, let’s just say… the plot thickens.

The State of the Price: A Sad Tale of Decline

As of now, our beloved Mantra is clinging to a price of $0.6951 after suffering an 11.71% drop in just 24 hours. Oh, the glory days of $6.30 seem like a distant memory. The volume’s still a decent $441.7 million, but is anyone really buying the dip? As of this very moment, Mantra is ranked #79 on CoinMarketCap with a market cap of $669.1 million, which isn’t exactly something to throw a parade over, but hey, it could be worse. At least it’s not below $0.50 again… yet.

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2025-04-17 17:20