MANTRA's OM token crashes 90% amid liquidation controversy
- On April 13, 2025, MANTRA's OM token fell 90%, leading to a market cap drop of over $5.4 billion.
- Suspicious trading activity was noted prior to the crash, and exchanges faced backlash for forced liquidations.
- The report illustrates a growing polarization in market sentiment and the influence of ongoing trade tensions.
In Dubai, UAE, on April 18, 2025, Bybit, a major cryptocurrency exchange, alongside the crypto market intelligence platform Santiment, released a report detailing critical sentiment analysis regarding significant market events. The report highlighted the drastic collapse of MANTRA's OM token, which plummeted by 90% on April 13, rolling back its market cap from approximately $6.11 billion to around $683 million in a swift manner. This disaster stemmed from forced liquidation events reported by exchanges during low liquidity periods, amplifying the concerns of investors. Additionally, abnormal trading behavior preceding the crash suggests that foul play might have contributed to the token's fall. Following the drop, trust in MANTRA eroded further as the project's communication channels went dark, raising suspicions of possible rug pull situations in the community. Meanwhile, the launch of Teucrium’s US-based XRP ETF generated significant trading activity, signaling increasing institutional interest in the cryptocurrency. The market is now watching to see how XRP will respond to upcoming regulatory decisions. Moreover, the report outlined the broader market challenges posed by ongoing geopolitical factors, particularly the US-China trade tensions. As investors scrutinize economic indicators, including the upcoming Federal Reserve meeting, volatility remains a prominent feature in these uncertain markets, emphasizing the need for vigilance as events unfold.