咒语（OM）令牌崩溃消除了数十亿美元的市场价值

加密货币市场对波动并不陌生，但是最近的咒语（OM）代币崩溃是一个特别引人注目的事件。

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.

加密货币市场对波动并不陌生，但是最近的一个事件特别震惊了观察者。在短短的两个小时内，咒语（OM）代币损失了其价格的90％以上，从而消除了数十亿美元的市场价值，并使投资者卷起来（CoinMarketCap，2025年）。本文深入研究了崩溃的细节，来自关键数字，潜在原因的回应以及对Altcoin市场的更广泛含义。

What Happened to Mantra on April 14th, 2025?

2025年4月14日的咒语发生了什么？

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解决方案，通过市值爬上了前100名加密货币，具有数十亿美元的估值。它的社区充满活力，其合作伙伴关系正在增长，其价格达到了令人印象深刻的6.3美元。但是，在4月14日，从上午2:00开始（UTC+8），OM的价格在短短两个小时内就跌至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.

这种天文数量超过90％几乎完成了，令牌后来稳定在0.88美元左右。但是，损坏已造成。八个主要加密交换停止了OM的交易，以防止进一步的价格下跌和市场不稳定。

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.

使这种崩溃如此困惑的原因是缺乏明显的催化剂。没有主要的黑客，监管公告或负面项目更新。在夜间的低流动性中，时间安排仅加深了这个谜。

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.

更广泛的加密货币市场感受到了涟漪，其他山寨币的波动性提高。尽管如此，像比特币和以太坊这样的主要参与者仍然毫发无损。到早晨，抛售已经放慢了，观察到了Altcoins的一些恢复。

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.

这项活动不仅仅是财务损失，这是关于Altcoin市场脆弱性和警惕性的警钟。

Official Responses from All Parties

各方的官方回应

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.

之后，咒语团队发表了一份声明，将这一幅度归因于Crypto交流的“鲁cklears”，这是由于在OM代币的第4轮中杠杆作用。但是，他们的解释未能平息怀疑。没有承诺的后续审核或详细报告，留下疑问。

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.

加密社区的反应是两极化的。尽管遭受了挫折，但一些人赞扬了咒语团队的积极态度和视野。他们还强调了社区对OM及其恢复潜力的强烈支持。

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，社区的其他成员对缺乏问责制表示沮丧。他们指出了团队用来炒作该项目的欺骗性做法，以及投资者缺乏尽职调查。

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

咒语团队用于大规模销售的可能方法

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.

如翻译文本所暗示的那样，咒语（OM）团队策划大规模销售的方法似乎依赖于心理操纵，代币学控制和战略时机的复杂融合。

1. Crafting a Compelling Narrative to Attract Investment

1。制作引人入胜的叙述以吸引投资

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.

咒语团队可能首先构建了一个迷人的故事，以吸引投资者，将OM作为一个革命性的项目呈现为享有声望的伙伴关系和监管合法性的支持。通过声称与阿联酋房地产巨头联系并与伊斯兰金融法保持一致，他们在信誉表皮上打扮了一个原本投机的代币。这种叙述像一个高端品牌标签一样，吸引了散户投资者和渴望利用迪拜令牌化房地产的大型参与者。但是，该项目适度的链链活动（数百万）与其膨胀估值（十亿）之间的断开连接表明，这是一种故意的过度促进，这是在任何销售开始之前创造炒作和膨胀价值的策略。

2. Controlling Supply and Demand Through Tokenomics

2。通过代币学控制供求

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.

为了维持价格控制并为有利可图的出口奠定了基础，该团队可能设计了OM的令牌学来限制循环供应，同时造成了稀缺性的幻想。高收益奖励等技术鼓励投资者锁定其代币，降低卖出压力并保持价格上涨。同时，每次交易的刻录机制缩减了可用的供应，从而促进了价值增加的感知。据称，该团队可以使用假帐户模拟交易活动，可以人工地支撑价格。对90％的代币供应的紧张抓地力使他们能够操纵价格变动，从而在计划抛售之前引起了戏剧性的集会（如报道的440倍激增），以吸引更多的买家。

3. Building a Loyal Community to Delay Selling Pressure

3.建立一个忠实的社区以延迟销售压力

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.

咒语团队似乎利用了社区动力来维持动力和延迟零售销售，这可能会破坏其退出策略。通过情绪激动的修辞 - 诸如“视觉”和“摇晃”之类的词，它们促进了邪教般的忠诚度，令人沮丧的怀疑和框架价格下降。操纵技术指标以预测不可阻挡的增长，同时将价格泵与更广泛的市场叙述（例如，比特币ETF流入）保持联系。这种环境使怀疑论者变成了流浪者，并加强了赌徒在持有人之间的心态，以确保他们紧紧抓住令牌，即使警告迹象挂起，使团队有足够的时间准备出口。