Mantra Chain’s $OM token as seen massive boom lately, increasing by 35% and hitting $2.72. This really helped them boost their market cap to $1.9B with massive $867M in trading volume. Big action came from exchanges as well which also came from big names like Bitunix and DigiFinex. However, a whale pulled out 1.2M $OM from Binance which led to prices dipping by 3% and now overall tokens left are 888.89M.
A native cryptocurrency that powerds Mantra ecosystem goes by the name of Mantra Chain’s $OM token. This is a blockchain focused on DeFi, staking and governance. This token is gaining good momentum lately, graphs show it increasing by 35% in just a matter of 24 hours. According to CoinGecko, it reached $2.72 mark after this surge. The OM token is currently being traded very actively on multiple exchanges and this recent increase even pushed its market cap to reach $1.9 billion. That’s a 32% up with a 24-hour trading volume surge of 215%, resulting in total $867 million reach.
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With a 24-hour volume of $33.68 million, or 3.88% of the overall volume, Bitunix has the greatest volume of trades, with the OM/USDT pair trading at $2.21.. That’s not all , other exchanges from Ourbit and DigiFinex also contribute massively, with Ourbit solely handling $13.23 million and DigiFinex seeing $80.2 million in trading volume.
This surge didn’t last long though, just after this the price dropped by 3%. This sudden drop is all because of a whale’s withdrawal of 1.2 million OM from Binance. Reportedly, he withdrew 19.47 million OM from Binance since December 24, at an average price of $0.662. As of now, the total supply of tokens is 888.89 million, among which 855.14 million tokens are already on circulation.
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