Close Menu
ApeWatcher News
  • Home
  • Advertise
  • Headlines
  • Crypto
    • News
    • Bitcoin
    • Ethereum
    • Altcoin
    • View All
  • DeFi
  • NFT
  • Metaverse
  • Guides
  • Rates
  • Videos
  • Listing Platform
  • BSC
  • ETH
  • Listing Platform
  • BSC
  • ETH
What's Hot

Crypto investor charged with kidnapping, torturing an Italian for passwords

May 25, 2025

BTC Ranged, Alts Ripped, and Coinbase’s Rollercoaster Ride

May 25, 2025

Bitcoiners fire back at Aussie senator’s ‘you can’t eat Bitcoin’ remark

May 25, 2025
X (Twitter) Telegram
  • Listing Platform
  • Home
  • BSC
  • ETH
Advertise
X (Twitter) Telegram
ApeWatcher News
  • Headlines
  • Crypto
    1. News
    2. Bitcoin
    3. Ethereum
    4. Altcoin
    5. View All

    Crypto investor charged with kidnapping, torturing an Italian for passwords

    May 25, 2025

    BTC Ranged, Alts Ripped, and Coinbase’s Rollercoaster Ride

    May 25, 2025

    Bitcoiners fire back at Aussie senator’s ‘you can’t eat Bitcoin’ remark

    May 25, 2025

    Stacks Resumes Block Production Amid Warnings of ‘Occasional Degradation’

    May 25, 2025

    Bitcoiners fire back at Aussie senator’s ‘you can’t eat Bitcoin’ remark

    May 25, 2025

    Bitcoin inflows projected to reach $420B in 2026 — Bitwise

    May 24, 2025

    Medical Tech Firm Semler Scientific Gobbles Up Another $50,000,000 Worth of Bitcoin, Now Owns More Than 4,000 BTC

    May 24, 2025

    Hyperliquid trader James Wynn goes ‘all-in’ on $1.25B Bitcoin Long

    May 24, 2025

    BTC, ETH, XRP, BNB, SOL, DOGE, ADA, SUI, HYPE, LINK

    May 23, 2025

    The future of Web3 is not blockchain

    May 23, 2025

    Bitcoin Primed To Go Higher Faster Than Expected, Says Analyst Michaël van de Poppe – Here Are His Targets

    May 22, 2025

    Whale buys back ETH holdings after missing $2.6M gain

    May 22, 2025

    Crypto ETFs won’t lose ‘their luster’ as wallet adoption grows — Cathie Wood

    May 25, 2025

    Analyst Says Full-Blown Altseason Has Started, Outlines Path Forward for Dogecoin, Floki and Pepe

    May 23, 2025

    Crypto, NFTs are a lifeboat in the sinking fiat system: Finance Redefined

    May 23, 2025

    Ethereum price chart targets $4K as transaction fees hit 3-month high

    May 23, 2025

    Crypto investor charged with kidnapping, torturing an Italian for passwords

    May 25, 2025

    BTC Ranged, Alts Ripped, and Coinbase’s Rollercoaster Ride

    May 25, 2025

    Bitcoiners fire back at Aussie senator’s ‘you can’t eat Bitcoin’ remark

    May 25, 2025

    Stacks Resumes Block Production Amid Warnings of ‘Occasional Degradation’

    May 25, 2025
  • DeFi
  • NFT
  • Metaverse
  • Guides
  • Videos

    Market Is 'Ticking Time Bomb', Bitcoin On Brink of Eruption | Lawrence Lepard

    May 24, 2025

    Crypto Meets Real Estate: Grant Cardone’s Bold Bitcoin Strategy (Massive Price Prediction)

    May 24, 2025

    Pi Network: You Won't Believe This! Review, History & Potential

    May 24, 2025

    Dollar's Dying! Escape Now or Regret It! (Financial Warning)

    May 23, 2025

    “Do Not Be Fooled!” Kevin O’Leary Issues BIG Warning To Crypto Holders

    May 23, 2025
ApeWatcher News
Home » Mantra OM token crash exposes ‘critical’ liquidity issues in crypto
Mantra OM token crash exposes ‘critical’ liquidity issues in crypto
Altcoin

Mantra OM token crash exposes ‘critical’ liquidity issues in crypto

Coin TelegraphBy Coin TelegraphApril 17, 20250 ViewsNo Comments
Share
Facebook Twitter LinkedIn Pinterest Email

Mantra’s recent token collapse highlights an issue within the crypto industry of fluctuating weekend liquidity levels creating additional downside volatility, which may have exacerbated the token’s crash.

The Mantra (OM) token’s price collapsed by over 90% on Sunday, April 13, from roughly $6.30 to below $0.50, triggering market manipulation allegations among disillusioned investors, Cointelegraph reported.

While blockchain analysts are still piecing together the reasons behind the OM collapse, the event highlights some crucial issues for the crypto industry, according to Gracy Chen, CEO of the cryptocurrency exchange Bitget.

“The OM token crash exposed several critical issues that we are seeing not just in OM, but also as an industry,” Chen said during Cointelegraph’s Chainreaction daily X show, adding:

“When it’s a token that’s too concentrated, the wealth concentration and the very opaque governance, together with sudden exchange inflows and outflows, […] combined with the forced liquidation during very low liquidity hours in our industry, created the big drop off.”

🎙️ CEXs hit with outages as AWS runs into trouble. The question is, do we need more decentralization?

Today, @RKBaggs and @ZVardai are joined by @GracyBitget, CEO of @Bitgetglobal on #CHAINREACTION to unpack the problem!https://t.co/OPoyu1IORC

— Cointelegraph (@Cointelegraph) April 15, 2025

Related: Google to enforce MiCA rules for crypto ads in Europe starting April 23

At least two wallets linked to Mantra investor Laser Digital were among 17 wallets that moved a combined 43.6 million OM tokens — worth about $227 million at the time — to exchanges before the crash, the blockchain analytics platform Lookonchain reported on April 13, citing Arkham Intelligence data.

However, Mantra CEO John Mullin denied the allegations related to large-scale token transfers from Mantra investors, Cointelegraph reported on April 14.

Mantra released a post-crash statement on April 16, reiterating that the OM crash didn’t involve token sales by the project itself and that the Mantra team continues investigating the incident. The report did not explain the rapid movement of OM tokens to exchanges and subsequent liquidations.

Related: UFC boss Dana White becomes VeChain adviser to push blockchain mainstream

Exchange movements point to strong “insider dumping” signal

While the exact reason behind the collapse remains unclear, Mullin attributed the crash to “massive forced liquidations” on centralized exchanges during low-liquidity hours on Sunday.

Mullin told an X user that the Mantra team believes one exchange “in particular” is to blame, but said the team was still “figuring out the details,” and specified that the exchange in question is not Binance. 

“I think OKX was the main exchange being accused of so-called liquidations,” said Chen, adding that the large transfers to multiple exchanges raised significant red flags. She added:

“I did look at the onchain data, which revealed that there were millions of OM tokens moved to centralized exchanges. That’s a very strong signal of insider dumping.”

Weekend liquidity issues have impacted even major cryptocurrencies like Bitcoin (BTC).

The lack of weekend trading volume, combined with Bitcoin’s 24/7 liquidity, resulted in Bitcoin’s correction below $75,000 on Sunday, April 6, Cointelegraph reported.

The April 6 correction may have occurred due to Bitcoin being the only large tradable asset over the weekend available for de-risking amid global trade war concerns, Lucas Outumuro, head of research at crypto intelligence platform IntoTheBlock, told Cointelegraph.

Magazine: Illegal arcade disguised as … a fake Bitcoin mine? Soldier scams in China: Asia Express



Read the full article here

Follow us on Google News to get the latest Updates

 
Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

Crypto ETFs won’t lose ‘their luster’ as wallet adoption grows — Cathie Wood

May 25, 2025

Analyst Says Full-Blown Altseason Has Started, Outlines Path Forward for Dogecoin, Floki and Pepe

May 23, 2025

Crypto, NFTs are a lifeboat in the sinking fiat system: Finance Redefined

May 23, 2025

Ethereum price chart targets $4K as transaction fees hit 3-month high

May 23, 2025

XRP price fails to respond to two extremely bullish developments — Here is why

May 22, 2025

Solana price fractal targets rally to $260, but one thing must happen first — Analysts

May 22, 2025
Add A Comment
Leave A Reply Cancel Reply

Top Articles

Crypto investor charged with kidnapping, torturing an Italian for passwords

May 25, 2025

BTC Ranged, Alts Ripped, and Coinbase’s Rollercoaster Ride

May 25, 2025

Bitcoiners fire back at Aussie senator’s ‘you can’t eat Bitcoin’ remark

May 25, 2025
ApeWatcher News
X (Twitter) Telegram
  • Privacy Policy
  • Sources
  • Terms and Conditions
  • Contact
  • Advertise
© 2025 Ape Watcher News

Type above and press Enter to search. Press Esc to cancel.