Altcoins News
By Dan Saada
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Mantra (OM) is under renewed pressure following a major sell-off by a large investor, commonly known as a whale.
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Between December 2024 and April 2025, the whale had acquired these tokens from FalconX at a total cost of around $24.29 million.
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On-chain data reveals a grim picture for OM holders. Approximately 95.46% of all addresses holding Mantra are currently underwater, meaning they are holding tokens bought at…
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Looking at technical indicators, the outlook remains weak. Mantra’s Relative Strength Index (RSI) currently stands at 20.48, which is deep in oversold territory.
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Further reinforcing the negative sentiment is the 90-day Futures Taker Cumulative Volume Delta (CVD) data, which shows persistent sell-side dominance.
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Interestingly, while the number of new OM wallet addresses has risen by 15.79% in the past week, daily active addresses have dropped by nearly 5%.
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In summary, while the deep oversold condition of the RSI and a rise in new wallet addresses provide some hope, several factors paint a challenging outlook for Mantra.
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