On April 13, 2025, the OM token experienced a devastating crash, plummeting nearly 90% in just minutes. This drastic drop was triggered by forced liquidations on centralized exchanges like Binance and Bybit. As leveraged positions were liquidated, a massive surge of OM flooded the market, further exacerbated by limited buy-side liquidity, leading to a rapid price decline. While the incident exposed weaknesses within OM’s trading environment, Mantra’s team initiated an investigation and proposed a token buyback and burn initiative aimed at stabilizing the market and regaining investor confidence. Despite losing over $5 billion in market cap, long-term holders believe the story might not be over just yet. Crypto analyst Crypto Aarav has provided insight into the OM crash, highlighting its connection to retail investors entering the market without understanding accumulation patterns, a phenomenon that often precedes upward movement. 1