Investors Buy 20M OM, Price Drops 7.9%
The Most Important Points at a Glance
The recent accumulation of Mantra (OM) by so-called whales – large investors with significant holdings – has caused a stir. Within four days, 20 million OM tokens worth $143.1 million were purchased. Despite this strong buying activity, the price fell by 7.90% to $6.89. While some investors are hoping for a price rally, technical indicators and liquidation data suggest potential risks.
Whale Accumulation: A Sign of Confidence or Uncertainty?
The massive OM accumulation by a Binance hot wallet indicates long-term confidence in the token. However, the market recorded a significant liquidation of long positions amounting to $338,220, while short positions totaled only $10,070. This discrepancy suggests that many traders are closing their long positions, indicating uncertainty.
On-Chain Data: Mostly Positive but with Weaknesses
Mantra’s blockchain data provides mixed signals. While network growth is positive at 1.50% and large transactions account for 0.46% of total volume, there are also negative aspects. The “In the Money” indicator, which shows how many investors are in profit, fell by 6.37%. Nevertheless, token concentration remains low at 0.13%, indicating a healthy distribution of holdings.
Technical Analysis: Is a Further Price Decline Imminent?
OM has broken through a key technical support level. The price fell below the rising wedge pattern that had been in place since December. If this trend continues, the next support zones could be at $6.21 and $4.42. If the price fails to hold these levels, a further decline may follow.
What Are the Implications of Whale Accumulation?
Although whale accumulation can be a sign of long-term confidence, current price movements and liquidation data suggest a potential correction. On-chain data is mostly positive, but the break of key technical levels creates uncertainty. In the short term, OM could remain under pressure, while its long-term development depends on market stabilization.
Our Assessment
The recent whale accumulation in OM shows that large investors believe in the token. However, there are clear signs of short-term uncertainty. Those investing in OM should closely monitor technical support levels and liquidity developments. A sustainable price increase will depend on whether the market can absorb the current selling pressure.
You should read that too:
-
Asian Slots – The Best Asia-Themed Online Slot GamesReading time: ~ 2 minutes
-
Crash Games in Online Casinos: A Review of Games and Providers
Reading time: ~ 2 minutes
-
Casbit Group N.V. Casinos
Reading time: ~ 2 minutes
-
Danneskjold Ventures B.V. Casinos
Reading time: ~ 2 minutes
-
Food and Drink Slots: The Best Slot Games Inspired by Culinary Delights
Reading time: ~ 2 minutes
| Wagering requirements | 35x bonus |
| 35x free spins winnings | |
| Minimum deposit | €20 |
| Maximum bet | €5 |
| Bonus validity | 30 days to claim |
| 14 days to wager / 7 days for free spins |
- There is no maximum bonus amount.
- 10 Free Spins per day over ten (10) days on Gates of Olympus or Book of Ra Deluxe.
| Wagering requirements | 40x bonus |
| 40x free spins winnings | |
| Minimum deposit | 0.0005 BTC |
| Maximum bet | 0.00004 BTC |
| Bonus validity | 30 days after registration |
| 14 days (1st), 7 days (2nd), 1 day (3rd) |
- To get the bonus, enter the bonus code before the deposit.
- Minimum deposit: 0,07 BCH • 0,4 LTC • 233 DOG • 45 XRP • 0,01 ETH • 20 USDT • 69 ADA • 0,05 BNB • 184 TRX • 20 USDC.
- Maximum bet: 0.007 BCH • 0.0009 ETH • 0.04 LTC • 23 DOGE • 2 USDT • 4 XRP • 18 TRX • 7 ADA • 0.005 BNB • 2 USDC • 2 EUR • 2 USD.
- Free spins are provided in batches of 25 per day.
- Free spins are credited on the Gamebeat slots: Max Miner (1st), Book of Elixir (2nd) and Odin’s Tree (3rd).
| 1st deposit | 120% up to $500 + 100 Free Spins |
| 2nd deposit | 100% up to $300 + 100 Free Spins |
| 3rd deposit | 150% up to $500 + 100 Free Spins |
| 4th deposit | 100% up to $300 + 100 Free Spins |
| Wagering requirements | 45x deposit + bonus |
| 40x free spins winnings | |
| Minimum deposit | $10 (1st) |
| $15 (2nd-4th) | |
| Maximum bet | $5 per round |
| Bonus validity | 30 days to claim, 7 days (1st-4th) |
| 7 days for free spins |
- You must complete the registration and verification process, including a valid email or phone number, to qualify for this bonus.
- You must select the desired bonus during the deposit process.
- There is a maximum withdrawal limit of $10 from winnings derived from free spins.
Advertising transparency