OM token from Mantra Chain has experienced a significant price increase of 35%, sparking interest in the market.
OM Token Surge
According to CoinGecko, the OM token by Mantra Chain has risen by 35% over the past 24 hours. The token's price reached $2.72, boosting its market cap to $1.9 billion, with trading volume surging 215% to $867 million.
Active Trading Across Exchanges
OM is actively traded on various cryptocurrency exchanges. The highest volume was observed on Bitunix where the OM/USDT pair was priced at $2.21, reaching a trading volume of $33.68 million, making up 3.88% of the total volume. Exchanges like Ourbit and DigiFinex also saw significant trading volumes.
Decline After Major Withdrawal
However, shortly after the surge, the price dropped by 3% following a major investor withdrawal of 1.2 million OM tokens (approximately $2.6 million) from Binance. According to SpotOnChain, this investor has withdrawn 19.47 million OM since December 24, 2023, at an average price of $0.662.
The surge in OM token has drawn attention to Mantra Chain and caused volatility in the market. Actions by major investors significantly impact the price movements and trading dynamics.
