Mantra (OM) Value Drops Over 91% Amid On-Chain Changes
Mantra experienced a significant crash, dropping from over $6 to approximately $0.50 within hours. Key on-chain metrics reflect this collapse.
On-Chain Metrics Analysis
- Exchange Inflows showed no large spikes prior to the crash, indicating a lack of selling pressure before the decline.
- Significant inflows occurred post-collapse, likely due to reactionary trading by investors.
- Exchange Outflows spiked after the price drop, with notable withdrawals both during and after the crash.
- The top 1% of addresses reduced their holdings from 96.4% to 95.6% before the crash, indicating potential preemptive action.
- The Number of Transfers peaked at around 1,400 in a 10-minute window, suggesting widespread trading activity amidst volatility.
- Active Addresses mirrored the spike in Transfers, confirming broad participation in the selloff.
Current Price Status
Mantra is currently trading at about $0.50, reflecting a decline of more than 91% in the past day.