There is nothing I can think of than it was planned. We can not trust any altcoins because of how people that created them and big investors are. Altcoins are full of insiders trading and manipulation which is what that is happening as usual.Your thoughts are right, the manipulation ongoing with some Altcoins expresses it's risk of Holding. Just imagine the dump of 90%!!!
We always tell people that altcoins are not for holding. Make money and sell.
“We have determined that the OM market movements were triggered by reckless forced closures initiated by centralized exchanges on OM account holders,” Mullin said in an X post.This seems strange, is he saying that CEX can forcefully sell off from a user's account without the knowledge of the user?
---The drop is even worse than FTX token in 2022 for me.
As additional information, Mantra (OM) was in 20th position on CoinMarketCap last week with $5.5B market cap. See https://coinmarketcap.com/historical/20250406/ (https://coinmarketcap.com/historical/20250406/). Do you think it's rugpull despite the project exist since 2020? Your opinion is greatly appreciated.
One twitter guy said that he lost 15 million dollars worth of mantra and now he is broke. He wants to end his life.I do not know the reason people are just like this as they are able to leave such high amount of money on altcoins and be able to sleep conveniently in the night. I am always afraid leaving money on altcoins until I see it if the money is huge for me. And if the altcoin increase, I prefer to sell as soon as possible. Altcoins will always teach people lesson. This is just another one but not the last.
Do you think it's rugpull despite the project exist since 2020? Your opinion is greatly appreciated.
There is nothing I can think of than it was planned. We can not trust any altcoins because of how people that created them and big investors are. Altcoins are full of insiders trading and manipulation which is what that is happening as usual.we investors should really look up more information about a project first especially when they are first to be launched some projects are transparent on the allocation percentage of the tokens and if you see that a huge part of the allocation is given to the higher ups then you should know better than to hope and hold that for a long time because only the dev team will benefit the most here
We always tell people that altcoins are not for holding. Make money and sell.i feel bad for those who invested a lot and got caught in the middle of this but for sure this well serve as a lesson for them
Quote“We have determined that the OM market movements were triggered by reckless forced closures initiated by centralized exchanges on OM account holders,” Mullin said in an X post.This seems strange, is he saying that CEX can forcefully sell off from a user's account without the knowledge of the user?
I guess it'll be better if he could point at the exchange so users could be aware.
Do you think it's rugpull despite the project exist since 2020? Your opinion is greatly appreciated.
But the coin has been priced between 3 and 20 cents for all those years, it pumped to first time over $1 in June 2024.
So it's not like they didn't want to scam, it's more like they lacked the incentive to do it till now.
The market cap was under 20 millions and the volume was barely 1 million in trade so they weren't even able to dump.
Or what happened was a high-level pump dump. The problem with many new tokens is the lack of liquidity, and if most of the liquidity were given to certain crtpo CEXs, they could manipulate the price to maximize profits.
As additional information, Mantra (OM) was in 20th position on CoinMarketCap last week with $5.5B market cap. See https://coinmarketcap.com/historical/20250406/ (https://coinmarketcap.com/historical/20250406/). Do you think it's rugpull despite the project exist since 2020? Your opinion is greatly appreciated.I never bought this token, but in Jan and Dec, it was everyone's favorite token, everyone and I got a lot of good news about OM but never bought it because of the continuous unlocking of supply and for some other reason, the point is, a token with a strong base, which had good partnerships, still decided to rug pull!
What happened to Mantra is quite incredibleI don’t own. Every day that passes, I grow more convinced that Bitcoin is the only smart and safe choice. Everything else is pure speculation. These coins and trends disappear too fast, first memecoins, then RWA… AI. They're just pumps for short-term trading, nothing more.
Several influencers recommended this token, and I'm sure many users were influenced to buy it
A 90% drop in a token with a marketcap of more than 5 billion USD makes us wonder if the marketcap they showed is real, and also shows us the fragility of altcoins and the trust we sometimes place in developers and investors
Does anyone here have OM in their wallet?
Do you guys think the OM token has completely lost its credibility in the market and will never be profitable again along with the other coins in the top 50 - 100 of coinmarketcap?
...I don’t own. Every day that passes, I grow more convinced that Bitcoin is the only smart and safe choice. Everything else is pure speculation. These coins and trends disappear too fast, first memecoins, then RWA… AI. They're just pumps for short-term trading, nothing more.
I'm impressed by how many people had a large part of their portfolio in mantra, ending up losing all their capital. I always saw this token rising and was impressed by its movement... scary.
Do you guys think the OM token has completely lost its credibility in the market and will never be profitable again along with the other coins in the top 50 - 100 of coinmarketcap?
What happened to Mantra is quite incredible
Several influencers recommended this token, and I'm sure many users were influenced to buy it
What happened to Mantra is quite incredibleThat's one lesson again for us, not to be sway by this so called crypto influencers.
Several influencers recommended this token, and I'm sure many users were influenced to buy it
A 90% drop in a token with a marketcap of more than 5 billion USD makes us wonder if the marketcap they showed is real, and also shows us the fragility of altcoins and the trust we sometimes place in developers and investorsIt's real as it gets, everything is on the blockchain. And even they blame the exchanges, it was reported that there are a lot of movement days before the actual sell-off that's why it is suspected that this could be a case of insider trading.
What happened to Mantra is quite incredibleYou're right mate, most users are always persuaded by influencers and they don't even bother to get the most little atom of information about what they are willing to invest on. Like these influencers are AI to them.
Several influencers recommended this token, and I'm sure many users were influenced to buy it
What happened to Mantra is quite incrediblei am sure these influencers were also just paid to promote the token most of the time social media influencers are not really that honest to their followers as long as money is involved
Several influencers recommended this token, and I'm sure many users were influenced to buy it
A 90% drop in a token with a marketcap of more than 5 billion USD makes us wonder if the marketcap they showed is real, and also shows us the fragility of altcoins and the trust we sometimes place in developers and investorsthat is what happens when altcoins are centralized you never know what could happen a lot of people wanted to make some profit and there’s really risk in that
Does anyone here have OM in their wallet?
You're right mate, most users are always persuaded by influencers and they don't even bother to get the most little atom of information about what they are willing to invest on. Like these influencers are AI to them.Few could resist OM after witnessing its price surge hundreds of times, especially with RWA considered a major trend this cycle. KOLs tend to say what the community wants to hear, and they mention OM as an example of crypto market potential, leading many new investors to buy OM without understanding the value and risks of the MantraDao project.
I've been carried away by such devastating persuasion once from these influencers and I learnt my lesson to always make my own personal research before investing/trading any token.
It's just a big heart break to most Investors because I don't think this token would reach its value of over $6 in the next 3yrs.
You're right mate, most users are always persuaded by influencers and they don't even bother to get the most little atom of information about what they are willing to invest on. Like these influencers are AI to them.Few could resist OM after witnessing its price surge hundreds of times, especially with RWA considered a major trend this cycle. KOLs tend to say what the community wants to hear, and they mention OM as an example of crypto market potential, leading many new investors to buy OM without understanding the value and risks of the MantraDao project.
I've been carried away by such devastating persuasion once from these influencers and I learnt my lesson to always make my own personal research before investing/trading any token.
It's just a big heart break to most Investors because I don't think this token would reach its value of over $6 in the next 3yrs.
Of course mate, the fall is termed "A Great Fall" , take for instance ETH for example that has been in a struggling price trend falls to $10, do you think investors will start buying so quickly if there isn't a sign of a price surge?
The Mantra example is very good, no one wants to risk the fall that has already passed 90%
When the fall is so deep, it usually indicates a serious problem with the coin, and no one is willing to buy yet, no one thinks that the coin can rise again
Impressive, 0.55 USD right now. ATH was 9.04 USD :o
---I remembered LUNA, Bitconnect, and FTX with this drop. I mean I'm not saying that OM is a scam token just like these 3 projects (at least for now), but the drops on all 4 of them are INSANE, and at the same time, unexpected.
The Mantra example is very good, no one wants to risk the fall that has already passed 90%
When the fall is so deep, it usually indicates a serious problem with the coin, and no one is willing to buy yet, no one thinks that the coin can rise again
Impressive, 0.55 USD right now. ATH was 9.04 USD :o