Mantra [OM] Plummets 9.73% Amid Flash Crash, RWA Sector Sentiment Hits
2min read MANTRA's latest price was $0.5430, down 9.726% in the last 24 hours. This week in the cryptocurrency market, Mantra [OM], a Real-World Asset (RWA) blockchain, faced significant challenges. The token experienced a sharp crash on April 13th, plummeting from $6.35 to under $0.10 within a single session. This dramatic decline was triggered by a deleveraging event, where many traders held overleveraged long positions in an already overheated market. The crash resulted in a textbook case of a flash crash, with om breaking through several key support levels with minimal buying interest, indicating a clear breakdown in structure.
The Relative Strength Index (RSI) for OM dropped below 18, signaling extreme overselling. Although there were small bounces, the token has yet to form a stable bottom. For OM to recover, it needs to hold above the $0.20–$0.25 zone with stronger volume. Otherwise, the recent move appears more like a full reset than a short-term dip. The overall sentiment around OM and the broader RWA sector has taken a serious hit due to this event.
Despite the challenges faced by Mantra [OM], the broader cryptocurrency market saw significant volatility. The contrast in performance between AI-focused tokens and other segments underscores the importance of strategic investment choices in the cryptocurrency market. While fear gripped most sectors and numerous tokens faced drawdowns, AI-focused assets defied the trend, capitalizing on the market's uncertainty to surge ahead with impressive double-digit returns. This week’s crypto market analysis shows AI tokens taking the lead amidst significant losses in other segments, stressing the importance of strategic investment choices.
In addition to the challenges faced by Mantra [OM], other notable losers in the market included Movement [MOVE] and Walrus [WAL]. Movement [MOVE] experienced a 32.21% weekly decline, positioning it as the second-worst performer of the week. The token began the week with a breakdown below the critical $0.30 support level, signaling weakening demand. Without strong buyer absorption and a failure to establish a higher low, a strong reversal remains premature. Walrus [WAL] registered a 14.66% weekly retracement, sliding to $0.40 and ranking as the third-largest decliner over the past seven days. The correction effectively nullified prior upside momentum, reversing the gains from last week’s close at $0.52. However, there were early signs of potential stabilization, with WAL closing the week with an 11.08% intraday rebound, lifting to $0.41 at press time.
Despite the challenges faced by Mantra [OM] and other tokens, the broader cryptocurrency market continues to evolve. The performance of AI-focused tokens highlights the growing importance of artificial intelligence in the cryptocurrency space. As the market continues to navigate volatility, investors will need to stay informed and make strategic investment choices to capitalize on emerging trends and opportunities.
