The blocmates Podcast What Happened With MANTRA’s $OM Token and Has Base Lost the Plot?
Apr 18, 2025
Dive into the chaos surrounding the drastic plunge of the $OM token, losing over $5 billion in value amid market manipulation fears. Explore the surprising endorsement of a meme coin by Base and the community's backlash. The hosts tackle ethical issues in crypto and discuss the contrasting resilience of Bitcoin versus gold. They share insights on recent market trends, including Visa's role in the Stablecoin space, mixed thoughts on new TV shows, and their upcoming adventure at the Sonic Summit in Vienna!
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OM Token Crash Insight
- The $OM token crashed 90% due to thin liquidity despite a high market cap.
- This suggests heavy control over supply and potential undisclosed market manipulation.
On-Chain Volume Signals Control
- On-chain volume data for $OM showed controlled supply with buy pressure and thin liquidity.
- This pattern typically signals manipulation or a planned market move in crypto projects.
OTC Sales Create Artificial Liquidity
- Teams sometimes pay market makers using OTC sales to create liquidity and support prices.
- This practice inflates market caps but is widespread due to venture capital pressures.