Cardano

<p>Mantra’s token, OM, had a strong rally yesterday jumping over 30% in just 24 hours. It reached a new all-time high of $4.52 but signs that the momentum might be fading have started to show as the price drops to $3.81</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full">
  <img loading="lazy" decoding="async" width="1600" height="788" src="https://www.cryptotimes.io/wp-content/uploads/2024/11/Mantra-Price-Chart.png" alt="Mantra Price Chart" class="wp-image-215821" srcset="https://www.cryptotimes.io/wp-content/uploads/2024/11/Mantra-Price-Chart.png 1600w, https://www.cryptotimes.io/wp-content/uploads/2024/11/Mantra-Price-Chart-420x207.png 420w, https://www.cryptotimes.io/wp-content/uploads/2024/11/Mantra-Price-Chart-860x424.png 860w" sizes="(max-width: 1600px) 100vw, 1600px">
  <figcaption class="wp-element-caption">
   Source: <a href="https://coinmarketcap.com/currencies/mantra/" target="_blank" rel="noreferrer noopener nofollow">CoinMarketCap</a>
  </figcaption>
 </figure>
</div> 
<p>According to a report from IntoTheBlock, large OM whales have started selling their tokens.&nbsp; Between November 14 and 17, the amount of OM being bought and sold by these large investors fell by 54%. This means big investors are starting to reduce their positions, which could lead to a drop in the token’s price.</p> 
<div class="wp-block-image"> 
 <figure class="aligncenter size-full">
  <img loading="lazy" decoding="async" width="1200" height="800" src="https://www.cryptotimes.io/wp-content/uploads/2024/11/Mantra-report-from-IntoTheBlock.png" alt="Mantra report from IntoTheBlock" class="wp-image-215820" srcset="https://www.cryptotimes.io/wp-content/uploads/2024/11/Mantra-report-from-IntoTheBlock.png 1200w, https://www.cryptotimes.io/wp-content/uploads/2024/11/Mantra-report-from-IntoTheBlock-420x280.png 420w, https://www.cryptotimes.io/wp-content/uploads/2024/11/Mantra-report-from-IntoTheBlock-330x220.png 330w, https://www.cryptotimes.io/wp-content/uploads/2024/11/Mantra-report-from-IntoTheBlock-615x410.png 615w, https://www.cryptotimes.io/wp-content/uploads/2024/11/Mantra-report-from-IntoTheBlock-860x573.png 860w" sizes="(max-width: 1200px) 100vw, 1200px">
  <figcaption class="wp-element-caption">
   Source: <a href="https://app.intotheblock.com/coin/OM" target="_blank" rel="noreferrer noopener nofollow">Intotheblock</a>
  </figcaption>
 </figure>
</div> 
<p>There have also been some large whale transfers recently, including one whale transferring OM worth $1.3 million to Binance, and another sending tokens worth $534,000 to OKX, based on data from <a href="https://feed.defillama.com/" target="_blank" rel="noreferrer noopener nofollow">LlamaFeed</a>.</p> 
<p>At the same time, more OM tokens are showing up on exchanges. According to CoinMarketCap, the supply of OM on exchanges grew by 2% in the last three days.&nbsp; This means more OM tokens are being moved from private wallets to exchanges, likely signaling that investors are getting ready to sell. Right now, there are 900.9&nbsp; million OM tokens worth around $1.2 trillion on exchanges.</p> 
<p>However, even with the price pullback, OM has had an incredible year. The token has risen nearly 20,000% over the last 12 months, bringing its market cap to $3.8 billion. The rally started after the Mantra team teased an important upcoming announcement, possibly about a new partnership, though the details are still unclear.</p> 
<p>According to Nansen, the amount of OM on exchanges has increased by 10% in the past week. Now, 17.8% of all OM tokens are held on exchanges. With some signs that the token is overbought, the price may correct soon, possibly falling further.</p> 
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow"> 
 <p>Also Read: <a href="https://www.cryptotimes.io/2024/11/18/cardano-price-eyes-breakout-amid-spacex-rumors/" target="_blank" rel="noreferrer noopener">Cardano Price Eyes Breakout Amid SpaceX Rumors</a></p> 
</blockquote>

Mantra (OM) Price Surge Fades as Whales Begin to Sell Off

The Crypto Times

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