Oddeyeresearch believes that the collapse of the coins caused a “betrayal” from the participant of the manipulating asset of a small group.
“Outcracus and circumstances indicate that the group, including Mantra Foundation, was involved in the“ PUMP and DUMP ”scheme. The dumps seemed to be partially unintentional, since rumors about the forced closure of positions in OM are going on, ”analysts noted.
According to them, at first, Mantra Foundation planned to release a new Aum asset, abandoning OM. Some subjects recommended that the team preserve the existing coin, since the probability of a new asset entering the Binance listing is much lower than the chances of “smelling” the token already traded on the platform.
Mantra agreed to the third party proposal and began to increase the course of token on the exchange using the resources provided by them. During 2023, the project increased the OM proposal, regularly adding liquidity to the Binance exchange to the GSR and DWF Labs market, experts said.
According to the researchers, at the end of 2023, a coin from $ 20 million to $ 100 million OM exchange offers decreased by 20%in front of a pump was reduced by 20%. Unknown addresses and Mantra Foundation wallets, tokens from Binance were displayed according to the same scenario and returned back a few months later.
“We believe that the recent OM collapse occurred due to the fact that a member of the Mantra group violated the contract and took unilateral actions in the market, voluntarily or under duress. We know that the creditor forced a certain organization to eliminate the provision in OM. This may be the participant in the alliance that was discussed, ”said Oddeyeresearch experts.
They indicated that it would be extremely difficult to restore balance and trust in the token and the project as a whole due to the loss of trust between insiders, developers and community.
Earlier, the Director General of Mantra JP Mullin explained the fall in the course for a compulsory liquidation on centralized exchanges.
Source: Bits
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