🐺MANTRA $OM to zero? Metaplanet to boost $BTC Holdings

Mantra's OM Token Crash Shakes Crypto Market

The week began quietly for crypto, with bitcoin struggling to break past $86K resistance. While FLR, TRX, and SOL outperformed, Mantra's OM token plummeted 90% to $0.70 during Asian trading hours. Mantra attributed the crash to forced liquidations on exchanges, but blockchain tracker Spot On Chain flagged a large OM transfer to OKX days prior. OKX CEO Star Xu labeled the collapse a "major scandal," emphasizing the transparency of on-chain data.

Chasing Mantra's $OM Crash: A Falling Knife Like $LUNA

Mantra's $OM token, tied to real-world asset (RWA) tokenization, crashed 90% to $0.70, echoing the catastrophic fall of Terra's $LUNA in 2022. Attempting to buy $OM on the way down could be akin to catching a falling knife—risky and potentially disastrous. Both tokens faced rapid sell-offs, with $OM hit by forced liquidations and suspicious pre-crash coin movements, much like $LUNA’s collapse amid algorithmic stablecoin failures. Without clear stabilization signals, jumping in early risks heavy losses, as panic and uncertainty dominate. Patience and caution are key before entering such a volatile dip.

Market Context and Other Highlights

• Bitcoin remains range-bound ($80K-$90K) amid U.S.-China tariff tensions, despite Trump’s partial tariff exemptions.

• Virtuals Protocol saw rising transaction volumes, while Mechanism Capital’s Andrew Kang boosted his $200M BTC bet.

• NYDIG noted crypto’s resilience compared to traditional markets’ recent turmoil.

• Spot bitcoin ETFs faced $700M in outflows, signaling cooling institutional demand.

• U.S. equity indexes near a bearish "death cross," urging caution for risk assets.

Metaplanet Boosts Bitcoin Holdings

Japanese investment firm Metaplanet made headlines this week by adding 319 BTC, worth $26.3 million, to its treasury, bringing its total holdings to 4,525 BTC. The Tokyo-listed company, often compared to MicroStrategy, continues its aggressive Bitcoin accumulation strategy, aiming for 10,000 BTC by year-end. Metaplanet is funding these purchases through bonds and stock rights, reinforcing its position as Asia’s leading corporate Bitcoin holder.

ONIC Whales on the Move:

With the recent liquidity rush, we’ve seen $ONIC.X ( ▼ 11.34% ) whales buying up 1% of the entire supply for pennies on the dollar! This smart fella here (myself) bought up 1% for less than 400 quid. If you’re betting on $ETH.X ( ▼ 3.7% ) to make a comeback in the long term, wouldn’t you want to allocate to a fund that will earn you ETH monthly? Then again, it’s not all that hard for me to bet on myself (Project Lead for ONIC).

Hope this has been helpful and informative! As always, feel free to hit my DM’s on X @noahmajor1776 with any recommendations. Watch your top knot, and stay safe out there!

V/r,

Nono

Referrals to be aware (farming):

• AI Hub

• Robinhood

• Webull

• Blofin

• Grass

• Pi