OM Token Plummets 90% After Liquidations Spark Panic in Crypto Market

The Mantra (OM) token experienced a dramatic crash, plummeting nearly 90% in value within 24 hours. Binance and OKX are investigating the incident, citing complex factors like cross-exchange liquidations and on-chain transactions linked to the Mantra team. This drastic price drop has triggered concern among crypto analysts who suggest a potential manipulation by the project’s developers. The market cap dropped from $6 billion to just $764 million after a series of aggressive sell-offs.