Mantra’s OM token experienced a significant crash, plummeting from around $6.30 to below $0.50 over the weekend, which raised concerns about liquidity and potential market manipulation. The CEO of Bitget, Gracy Chen, highlighted that the collapse reflects deeper issues within the crypto industry, primarily due to concentrated wealth and opaque governance, exacerbated by sudden inflows and outflows on exchanges. On April 13, various wallets moved 43.6 million OM tokens to exchanges, leading to allegations of insider dumping. Mantra's CEO refuted claims of large-scale token transfers contributing to the crash, maintaining that investigations are ongoing. However, analysts suggested that massive forced liquidations on centralized exchanges during low liquidity periods significantly contributed to the crash. They pointed to particular exchanges where whale activity raised red flags. Additionally, the discussion underscores the broader impact of weekend liquidity challenges that affect even major cryptocurrencies like Bitcoin, which recently corrected below $75,000 due to low trading volumes during weekends. As the market evaluates the aftermath, critical liquidity issues remain a central focus within the crypto landscape.

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