咒語（OM）令牌崩潰消除了數十億美元的市場價值

加密貨幣市場對波動並不陌生，但是最近的咒語（OM）代幣崩潰是一個特別引人注目的事件。

The cryptocurrency market is no stranger to volatility, but one recent event has particularly stunned observers. In just two hours, the Mantra (OM) token lost over 90% of its price, erasing billions in market value and leaving investors reeling (Coinmarketcap, 2025). This article delves into the details of the crash, the responses from key figures, potential causes, and the broader implications for the altcoin market.

加密貨幣市場對波動並不陌生，但是最近的一個事件特別震驚了觀察者。在短短的兩個小時內，咒語（OM）代幣損失了其價格的90％以上，從而消除了數十億美元的市場價值，並使投資者捲起來（CoinMarketCap，2025年）。本文深入研究了崩潰的細節，來自關鍵數字，潛在原因的回應以及對Altcoin市場的更廣泛含義。

What Happened to Mantra on April 14th, 2025?

2025年4月14日的咒語發生了什麼？

Promising decentralized governance and staking solutions, OM had climbed into the top 100 cryptocurrencies by market cap, boasting a valuation in the billions. Its community was vibrant, its partnerships were growing, and its price had reached an impressive $6.3. However, on April 14, starting at 2:00 am (UTC+8), OM’s price crashed to $0.38 in just two hours.

OM有希望的分散治理和Staking解決方案，通過市值爬上了前100名加密貨幣，具有數十億美元的估值。它的社區充滿活力，其合作夥伴關係正在增長，其價格達到了令人印象深刻的6.3美元。但是，在4月14日，從上午2:00開始（UTC+8），OM的價格在短短兩個小時內就跌至0.38美元。

This astronomical drop of over 90% was nearly complete, with the token later stabilizing around $0.88. However, the damage was done. Eight major crypto exchanges halted trading in OM to prevent further price drops and market instability.

這種天文數量超過90％幾乎完成了，令牌後來穩定在0.88美元左右。但是，損壞已造成。八個主要加密交換停止了OM的交易，以防止進一步的價格下跌和市場不穩定。

What made this collapse so perplexing was the lack of an obvious catalyst. There were no major hacks, regulatory announcements, or negative project updates. The timing—during low-liquidity overnight hours—only deepened the mystery.

使這種崩潰如此困惑的原因是缺乏明顯的催化劑。沒有主要的黑客，監管公告或負面項目更新。在夜間的低流動性中，時間安排僅加深了這個謎。

The broader crypto market felt the ripples, with other altcoins experiencing heightened volatility. Still, major players like Bitcoin and Ethereum remained relatively unscathed. By morning, the sell-off had slowed, and some recovery in altcoins was observed.

更廣泛的加密貨幣市場感受到了漣漪，其他山寨幣的波動性提高。儘管如此，像比特幣和以太坊這樣的主要參與者仍然毫髮無損。到早晨，拋售已經放慢了，觀察到了Altcoins的一些恢復。

This event wasn’t just a financial loss—it was a wake-up call about the fragility of altcoin markets and the need for vigilance.

這項活動不僅僅是財務損失，這是關於Altcoin市場脆弱性和警惕性的警鐘。

Official Responses from All Parties

各方的官方回應

In the aftermath, the Mantra team issued a statement attributing the plunge to “reckless liquidations” on crypto exchanges due to leveraged long positions in the 4th round of OM tokens. However, their explanation failed to quell skepticism. No follow-up audits or detailed reports were promised, leaving a cloud of doubt.

之後，咒語團隊發表了一份聲明，將這一幅度歸因於Crypto交流的“魯cklears”，這是由於在OM代幣的第4輪中槓桿作用。但是，他們的解釋未能平息懷疑。沒有承諾的後續審核或詳細報告，留下疑問。

The crypto community’s reaction was polarized. Some praised the Mantra team for their positive attitude and vision despite the setback. They also highlighted the strong community support for OM and its potential for recovery.

加密社區的反應是兩極化的。儘管遭受了挫折，但一些人讚揚了咒語團隊的積極態度和視野。他們還強調了社區對OM及其恢復潛力的強烈支持。

However, other members of the community expressed frustration with the lack of accountability. They pointed out the deceptive practices used by the team to hype up the project and the lack of due diligence from investors.

但是，社區的其他成員對缺乏問責製表示沮喪。他們指出了團隊用來炒作該項目的欺騙性做法，以及投資者缺乏盡職調查。

Possible Methods Used by the Mantra Team for Large-Scale Selling

咒語團隊用於大規模銷售的可能方法

The Mantra (OM) team’s approach to orchestrating large-scale selling appears to rely on a sophisticated blend of psychological manipulation, tokenomics control, and strategic timing, as implied by the translated text.

如翻譯文本所暗示的那樣，咒語（OM）團隊策劃大規模銷售的方法似乎依賴於心理操縱，代幣學控制和戰略時機的複雜融合。

1. Crafting a Compelling Narrative to Attract Investment

1。製作引人入勝的敘述以吸引投資

The Mantra team likely began by constructing a glamorous story to lure investors, presenting OM as a revolutionary project backed by prestigious partnerships and regulatory legitimacy. By claiming ties to a UAE real estate giant and aligning with Islamic finance laws, they dressed up an otherwise speculative token in a veneer of credibility. This narrative acted like a high-end brand label, drawing in both retail investors and larger players eager to capitalize on tokenized real estate in Dubai. However, the disconnect between the project’s modest on-chain activity (millions in TVL) and its inflated valuation (billions) suggests this was a deliberate overpromise—a tactic to create hype and inflate perceived value before any selling began.

咒語團隊可能首先構建了一個迷人的故事，以吸引投資者，將OM作為一個革命性的項目呈現為享有聲望的伙伴關係和監管合法性的支持。通過聲稱與阿聯酋房地產巨頭聯繫並與伊斯蘭金融法保持一致，他們在信譽表皮上打扮了一個原本投機的代幣。這種敘述像一個高端品牌標籤一樣，吸引了散戶投資者和渴望利用迪拜令牌化房地產的大型參與者。但是，該項目適度的鍊鍊活動（數百萬）與其膨脹估值（十億）之間的斷開連接表明，這是一種故意的過度促進，這是在任何銷售開始之前創造炒作和膨脹價值的策略。

2. Controlling Supply and Demand Through Tokenomics

2。通過代幣學控制供求

To maintain price control and set the stage for profitable exits, the team may have designed OM’s tokenomics to limit circulating supply while creating an illusion of scarcity. Techniques like high-yield staking rewards encouraged investors to lock up their tokens, reducing sell pressure and keeping prices elevated. Simultaneously, token-burning mechanisms with each transaction shrank the available supply, fostering a perception of increasing value. By allegedly using fake accounts to simulate trading activity, the team could have fabricated liquidity and demand, propping up prices artificially. This tight grip on 90% of the token supply allowed them to manipulate price movements, creating dramatic rallies (like the reported 440x surge) to entice more buyers before a planned sell-off.

為了維持價格控制並為有利可圖的出口奠定了基礎，該團隊可能設計了OM的令牌學來限制循環供應，同時造成了稀缺性的幻想。高收益獎勵等技術鼓勵投資者鎖定其代幣，降低賣出壓力並保持價格上漲。同時，每次交易的刻錄機制縮減了可用的供應，從而促進了價值增加的感知。據稱，該團隊可以使用假帳戶模擬交易活動，可以人工地支撐價格。對90％的代幣供應的緊張抓地力使他們能夠操縱價格變動，從而在計劃拋售之前引起了戲劇性的集會（如報導的440倍激增），以吸引更多的買家。

3. Building a Loyal Community to Delay Selling Pressure

3.建立一個忠實的社區以延遲銷售壓力

The Mantra team seemingly leveraged community dynamics to sustain momentum and delay retail selling, which could disrupt their exit strategy. Through emotionally charged rhetoric—phrases like “vision” and “shakeout”—they fostered a cult-like loyalty, discouraging doubt and framing price dips as opportunities. Technical indicators were manipulated to project unstoppable growth, while tying price pumps to broader market narratives (e.g., Bitcoin ETF inflows) kept investors hooked. This environment turned skeptics into outcasts and reinforced a gambler’s mindset among holders, ensuring they clung to tokens even as warning signs mounted, giving the team ample time to prepare their exit.

咒語團隊似乎利用了社區動力來維持動力和延遲零售銷售，這可能會破壞其退出策略。通過情緒激動的修辭 - 諸如“視覺”和“搖晃”之類的詞，它們促進了邪教般的忠誠度，令人沮喪的懷疑和框架價格下降。操縱技術指標以預測不可阻擋的增長，同時將價格泵與更廣泛的市場敘述（例如，比特幣ETF流入）保持聯繫。這種環境使懷疑論者變成了流浪者，並加強了賭徒在持有人之間的心態，以確保他們緊緊抓住令牌，即使警告跡象掛起，使團隊有足夠的時間準備出口。