Altcoins News
By Maheen Hernandez
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Mantra (OM), once seen as a rising DeFi player, is now grappling with one of its most turbulent phases yet. The token has plunged below the $0.
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This wasn't an isolated event. Just six weeks earlier, the same wallet had withdrawn 4 million OM valued at over $27 million, only to now offload a chunk at a massive loss.
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At the time of writing, OM is trading at $0.4152, down nearly 5% in the past 24 hours. This marks a staggering drop from its recent highs above $6.
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Technical indicators further paint a grim picture. The Relative Strength Index (RSI) is languishing at around 17, a level deeply rooted in oversold territory.
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From a fundamental standpoint, things don’t look much better. Key on-chain indicators are flashing red across the board.
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Valuation metrics present a conflicting narrative. The MVRV Z-score, which compares market value to realized value, stands at -2.36.
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Conversely, the NVT (Network Value to Transactions) ratio is alarmingly high at 26.37, suggesting that OM’s current market cap far exceeds its actual on-chain usage.
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Compounding these concerns is the dramatic drop in OM’s Stock-to-Flow (S2F) Ratio, which now sits at just 0.834.
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Together, these metrics depict a market teetering between fear and forced selling. With confidence shaken and fundamentals deteriorating, OM is struggling to attract meaningful…
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Unless a clear bullish catalyst emerges, such as a successful token burn, DeFi partnership, or renewed development activity, OM’s path forward remains uncertain.
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For now, OM appears trapped in a downward cycle fueled by whale exits, weak adoption, and fragile investor confidence.
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