咒语（$ OM）在前所未有的咒语加密货币中爆炸了-90％

曼特拉（Mantra）现实世界中资产区块链的原住民代币OM的价格下跌了90％以上。

The price of OM (CRYPTO: OM), the native token of real-world asset blockchain Mantra, plunged more than 90 percent on Sunday in one of the most dramatic collapses of the year.

OM（加密：OM）的价格是现实世界中资产区块链咒语的原住民代币，周日在一年中最戏剧性的崩溃之一中跌落了90％以上。

Within 24 hours, OM dropped from $6.30 to below $0.50, wiping out over $5.5 billion in market capitalization and prompting widespread panic across trading desks and Telegram groups.

在24小时内，OM从6.30美元下降到低于0.50美元，消除了超过55亿美元的市值，并引起了交易桌和电报集团的广泛恐慌。

What Happened: At the core of the crash lies what the Mantra team calls a “massive forced liquidation” on a centralized exchange.

发生的事情：坠机的核心是咒语团队在集中式交易所所说的“大量强迫清算”。

A large OM investor triggered cascading sell orders, tanking the order books and accelerating the price decline, according to Mantra co-founder John Patrick Mullin.

曼特拉联合创始人约翰·帕特里克·穆林（John Patrick Mullin）表示，一位大型OM投资者触发了级联的卖出订单，加油订单并加速了价格下跌。

“This wasn’t team selling,” Mullin wrote on X, formerly Twitter. “We’re still here. Still building. Still fixing this.”

“这不是团队销售，”穆林在X（以前是Twitter）上写道。 “我们还在这里。仍在建造。仍在修复此问题。”

Mantra’s public Telegram group went offline shortly after the crash, fueling speculation of internal disarray. Community lead Dustin McDaniel attempted to quell fears in a message before the group was shuttered.

坠机事故发生后不久，Mantra的公共电报小组离线脱机，这激发了人们对内部混乱的猜测。社区负责人达斯汀·麦克丹尼尔（Dustin McDaniel）试图在小组关闭之前在一条信息中平息恐惧。

“I have no knowledge of what caused the recent price drop on OM. We are looking into it and will provide an update as soon as possible,” McDaniel said.

麦克丹尼尔说：“我不知道是什么原因导致了OM最近的价格下跌。我们正在研究它，并将尽快提供更新。”

The scale and speed of the price collapse sparked comparisons to prior black swan events like Terra’s (CRYPTO: LUNA) LUNA implosion and the FTX fraud revelation.

价格崩溃的规模和速度引发了与先前的黑天鹅事件（如Terra（Crypto：Luna）Luna内爆和FTX欺诈启示）的比较。

Traders and analysts flagged long-standing concerns about OM’s tokenomics, particularly its steep, fully diluted valuation, which stood at nearly $9.5 billion compared to a total value locked (TVL) of just $13 million.

贸易商和分析师对OM的Sokenomics（尤其是其陡峭，完全稀释的估值）提出了长期的担忧，该估值为95亿美元，而总价值锁定（TVL）仅为1300万美元。

“It’s like a house of cards. One big liquidation could take down the whole thing,” one trader remarked.

一位交易员说：“这就像纸牌屋。一个大清算可能会拆除整个事情。”一位交易员说。

On-chain data shows that in the days leading up to the crash, millions of OM tokens were sent to centralized exchanges OKX and Binance. One address linked to Binance reportedly transferred over $36 million in OM to OKX in a sequence of moves that some now view as strategic positioning ahead of the collapse.

链上的数据显示，在坠机事故发生的几天里，数以百万计的OM令牌被送往集中式交换OKX和Binance。据报道，与Binance相关的一个地址将超过3600万美元的OM转移到OKX上，以一系列举动，其中一些人现在将其视为倒塌之前的战略定位。

Related: 9+ Best High-Risk, High–Reward Crypto to Buy in April 2025

相关：9+最佳高风险，高级奖励加密货币将于2025年4月购买

Will $OM Crypto and Mantra DAO Survive The Project Implosion?

$ OM Crypto和Mantra Dao是否可以幸免于该项目的内爆？

These events coincide with the Mantra DAO’s recent legal challenges. Six members were ordered by a Hong Kong court to disclose financial records in an ongoing lawsuit alleging misappropriation of DAO funds—raising further questions about internal governance and accountability.

这些事件与咒语道的最近法律挑战相吻合。香港法院命令六名成员在持续的诉讼中披露财务记录，指控挪用了DAO资金，这加剧了有关内部治理和责任制的进一步问题。

Just two months ago, Mantra appeared to be performing well. The project secured a virtual asset license from Dubai’s VARA and announced a $1 billion tokenization deal with real estate giant DAMAC. Now, with investor confidence shattered and key infrastructure offline, the future of OM appears uncertain.

就在两个月前，咒语似乎表现良好。该项目从迪拜的Vara获得了虚拟资产许可证，并宣布了与房地产巨头Damac达成10亿美元的令牌化协议。现在，随着投资者的信心破坏了关键的基础设施，OM的未来似乎不确定。

It remains to be seen whether the team can stabilize the project or whether this marks the beginning of another overly-leveraged fantasy.

团队是否可以稳定该项目，还是这标志着另一个过度杠杆化的幻想的开始还有待观察。