Binance (BNB) Price Plunges Nearly 90% as Mantra (OM) Token Crashes

The crypto community was left stunned today. Mantra (OM) plummeted nearly 90% in a single day, causing widespread concern among investors.

Crypto community was left stunned today as Mantra (OM) saw a nearly 90% plummet in a single day. The event has sparked widespread concern among investors, especially with Binance exchange breaking its silence to explain the cause.

According to Binance, the price crash was primarily triggered by massive cross-exchange liquidations and a dramatic increase in token supply. The exchange also reminded users of its earlier risk controls, including leverage reduction and pop-up warnings about OM’s tokenomics changes. These steps were taken to mitigate the fallout, which saw users lose over $66 million in liquidations within 12 hours.

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The event unfolded quickly, with on-chain data showing 17 wallets dumping $227 million worth of OM tokens just before the crash—about 4.5% of the total supply. This move sparked speculation and fear of a potential rug pull, although Binance has not confirmed any foul play.

The exchange’s transparency may help stabilize sentiment toward its platform, but questions remain about token vetting and risk controls. As BNB is the native token of Binance, such events often ripple through its price.

While BNB itself wasn’t directly impacted by the crash, any sustained trust issues in Binance’s listed tokens could affect its broader ecosystem, especially as investors evaluate the security and oversight in place.

Binance Price Actions on April 14

Following Binance’s response to the Mantra crash and the resulting market tension, we can observe some key price levels for BNB.

The trading day of April 13th started with bearish momentum and an oversold situation at 05:10 UTC. This drop pushed BNB to find support at $590.93.

Shortly after, at 10:00 UTC, the MACD line signaled a breakdown from this level. This move was reinforced by another oversold RSI signal at 11:20 UTC, triggering a dip into a new trading range.

By 19:40 UTC, a fresh oversold RSI pushed the price further down, establishing new support at $580.35.

Momentum shifted when the MACD formed a golden cross at 21:15 UTC, kicking off an upward channel that carried BNB into April 14th.

Chart 1, analyzed by ShwetaCW, published on TradingView, April 14, 2025

The new trading day opened with back-to-back overbought RSI signals, and BNB settled at a higher support near $592.01. Despite a brief consolidation, the price stayed within a tight range.

At 10:25 UTC, another golden cross appeared on the MACD, suggesting potential for a resistance breakout.

Whether BNB can break out depends on the next few candles. According to BNB price prediction, if the price breaks the current resistance of $592.01, it may target $600. If the momentum fails, BNB may slip below $580.35 and head toward $570.