The cryptocurrency market experienced a dramatic downturn with the token OM, often hailed as the strongest “Real World Assets” (RWA) coin, witnessing a shocking plunge of over 90% since the end of the week. The price of OM plummeted from around $6 to a low of $0.43, accompanied by unprecedented trading volume surging from below $100 million to over $2 billion. This sudden and severe decline raises concerns reminiscent of the Terra-LUNA collapse. Market instability triggered by this dramatic drop led to investor panic as well as uncertainty regarding the coin’s future. 3.9 million OM coins were moved by a wallet potentially connected to the team, reviving allegations about insider control over a majority of the coin’s supply, with prices rapidly dropping from $6 to $0.48. This event triggered an immediate wave of panic selling that resulted in market value evaporating by approximately $6 billion.