Mantra OM Crypto Crash: $5.4B Wipeout Sparks Terra LUNA-Style Panic

The post Mantra OM Crypto Crash: $5.4B Wipeout Sparks Terra LUNA-Style Panic appeared first on Coinpedia Fintech News

The crypto market faced a big shock as MANTRA (OM) crashed by more than 90% in a single day, drawing comparisons to the infamous Terra LUNA collapse. But what’s even more worrying is that OM isn’t showing any signs of bouncing back. When LUNA crashed back in 2022, some buyers rushed in, hoping to make quick profits on the dip. That at least gave LUNA a small short-term recovery. But with OM, that’s not happening. It’s stuck under heavy selling pressure, and technical charts show very little interest from buyers. 

In simple terms, it looks like most traders are staying away for now, waiting to see what happens next. Until buying interest returns or something changes, OM is likely to stay down. 

GM!
Over $5.5B vanished in an hour as a wallet linked to @MANTRA_Chain deposited 3.9M $OM on OKX, triggering a 90% price drop.

Team reportedly controls 90% of supply – a major red flag. Many burned in the flash crash.

I feel Sorry for the $OM HOLDERS