- Mantra whales accumulated 20 million tokens in four days.
- However, this move may not be welcomed well by the market.
The recent surge of whale activity in Mantra [OM ($7.13)], which involved the accumulation of 20 million tokens worth $143.1 million within just four days, has created a notable shift in market sentiment.
At press time, OM was trading at $6.89, marking a 7.90% decline over the past 24 hours.
Despite the whale’s position reflecting a floating loss of $4.7 million, the significant accumulation from Binance’s hot wallet highlighted a strong belief in OM’s long-term potential.
However, traders are left wondering if this accumulation will lead to a price rally or a larger market correction.
OM: Is the market uncertain amid whale accumulation?
The liquidation performance of Mantra during the whale accumulation presents some intriguing insights.
Notably, the liquidation chart showed total liquidations of $338.22K, which was significantly higher than the short liquidations of $10.07K.
This imbalance signaled market uncertainty, as traders have largely liquidated long positions while short positions remained relatively small.
Therefore, it appears that the market is somewhat ske… creator solana token
