Summary:

Mantra (OM) has experienced a significant rally, becoming one of the biggest gainers among altcoins and the RWA sector. While the RWA narrative partially explains the attention for OM, it has also gained cult status and is behaving more like a meme token. Despite the rally, smart money wallets have been selling OM, posing a risk for a potential downturn. Additionally, a large amount of OM tokens have been moved to exchanges, indicating a possible correction. The open interest trends suggest the rally may be nearing its end, and the token's current price position carries extreme risk. OM is forming wallet clusters with high-volume transfers and is primarily traded on Binance and Gate.io. The limited supply of OM and its accessibility in the Ethereum ecosystem contribute to its relatively high value. The current interest in OM may be linked to an upcoming airdrop event, but this could also put additional price pressure on the token.



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