$OM Experiences Significant Drop Amid Market Turmoil

According to PANews, Glassnode analysis reveals that $OM experienced a sharp decline, falling below $1 in a short period today. At 08:20 UTC, a substantial transaction of 38 million tokens, averaging $0.71 each, was transferred to exchanges, indicating panic or arbitrage activities. During the downturn, the top 1% holding ratio decreased from 96.4% to 95.6%, suggesting that major holders were selling or liquidating their positions. The realized market value evaporated by approximately $740 million within a few hours. The surge in transfers and active addresses indicates widespread market participation. This wave of selling was not led by early holders but rather reflects a systemic market reaction.