After cruising along at a fairly stable range, north of $6 per token, $OM – a top-100 token – plunged over 90%

What happened to the $OM token? And how does the new crypto SUBBD Token ($SUBBD) avoid the same problem?

Recently, there was a significant incident where an underestimated top-100 token, $OM from MANTRA, faced a 90% price drop after a period of stability above $6.

This occurred as centralized exchanges performed forced liquidations during low-liquidity hours, ultimately leading to the downfall of the OM token.

However, the incident also highlighted the strength of smaller platforms in the crypto market. As John Patrick Mullin, CEO of MANTRA, stated on X:

For smaller platforms to succeed, decentralization needs to be an essential part.

Centralized Exchange Liquidations Contribute to 90% OM Token Drop in 12 Hours

On April 13, MANTRA’s $OM token experienced a dramatic 90% drop, which has been attributed to forced liquidations by centralized exchanges during low-liquidity hours.

According to a statement by John Patrick Mullin, CEO of MANTRA, on X (formerly Twitter), ‘reckless forced closures’ on centralized exchanges caused the sharp decline in the OM token’s price.

However, he emphasized that neither the MANTRA team nor its investors are responsible, noting that all tokens remain locked per their vesting schedules.

The crash occurred at 8 pm UTC on a Sunday evening, raising questions about the timing and discretion exercised by these exchanges.

This incident has sparked a broader conversation about the need for decentralized solutions and underscores the systemic risks associated with centralized platforms.

Could decentralized, AI-powered platforms like SUBBD Token offer a more resilient alternative?