
PANews|Apr 14, 2025 00:19
MANTRA: CEX's reckless liquidation during low liquidity periods resulted in a sharp drop in OM, which may have been due to negligence or market manipulation
MANTRA officially responded to its "OM token crash" in an official blog post: "It has been determined that the volatility in the OM market was caused by the reckless forced liquidation of OM account holders by centralized exchanges. The timing and depth of the crash indicate that account positions were closed very suddenly without sufficient warning or notification.
This situation occurred during the low liquidity period in the early hours of Asian time, which at least indicates a certain degree of negligence or possibly intentional market manipulation by centralized exchanges. Centralized exchange partners play an important role in providing liquidity for projects like ours.
We work closely with them, however, they still have great discretion. When this discretionary power is exercised without appropriate internal and external supervision, it may lead to market misalignment, as has recently occurred, thereby harming the interests of projects and investors.
It should be clarified that this market misalignment was not caused by the team, MANTRA Chain Association, its core advisors, or MANTRA investors selling tokens. The token is still locked and subject to the published attribution period. The token economics of OM remains unchanged, as we stated in our latest token report last week. Our token wallet address is online and visible
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