⇘ OM Coin: Between Scandal and Recovery
Mantra's OM Coin experienced a major price drop by 90%, leading to claims of fraud and scandal. The cause of the crash was primarily attributed...
Mantra's OM token witnessed a steep fall of 90%, raising serious concerns about the liquidity of the crypto market. This drastic price drop is attributed to the risky exchange policies of the crypto industry. In response to the incident, the founder of Mantra decided to burn $80M of his own tokens. Unsurprisingly,this sparked debates over the future of OM coin. Will it be able to recover? Or are we seeing another crypto catastrophe?
Meanwhile, other coins like the Trump memecoin also experienced significant losses. Data shows that only 58 crypto wallets made profits on Trump's meme coin, while 764,000 landed up losing money. Apparently, a majority of the top holders of the Trump memecoin are non-Americans.
Alongside these events, there are other significant developments in the crypto world. Circle, a Stablecoin giant, has filed for public listing on the NYSE, planning to raise nearly $250M from the IPO. Additionally, Metaplanet's Bitcoin premium is nearing an impressive $600K per BTC.
Mantra has declared that the CEO started burning his 150M OM tokens after the crash. Crypto price predictions hint at Mantra's OM coin hitting $12 and other coins like Cardano and Fartcoin gearing up for large rallies. However, the road to recovery is not straightforward. OM coin struggles to regain trust and leverage investor sentiment in its favour.
All these events paint a clear picture of the volatile crypto market where fortunes can change overnight.
OM Coin News Analytics from Mon, 22 Aug 2022 19:33:09 GMT to Tue, 27 May 2025 12:22:30 GMT - Rating -8 - Innovation -4 - Information 6 - Rumor -2