The last OM collapsed in the society’s talisman has left confused. In a series of immediate decreases, $ 5.5 billion was erased. According to several analyzes, the cause of the accident was one merchant manipulating two exchanges.
This entire accident highlights the fragility of many symbolic projects. Despite the maximum huge market outwardly, a relatively small amount of liquidity led to a complete collapse.
Explore om crash
When the Mantra om om symbol collapsed earlier this week, he left a large number of unanswered questions. It has sparked allegations of wrong play, and rumors of internal activity have been robbed of the company since then.
According to a new analysisThe first operator of the OM accident was one merchant:
“This was due to the entity (Kayan) in the Pinance Perpetuals market. This sparked a whole chain. The first decreased less than $ 5, which was operated through $ 1 million, and this appears to be the market. It has caused more than 5 % of the craftsmanship of the craftsmanship. This was euphoria.
After the spread of this initial anomaly, this trading OM continued to throw short situations over five seconds, which worked on the total collapse. As this continuous garbage on Binance continues, the OKX Spot market has seen approximately 20 %.
The seller finds exit liquidity
This strange behavior on OKX was the result of a huge whale. The sale order allows the seller to determine the minimum price they want to sell to the encryption origin. The demand will only be implemented if the market price reaches or exceeds the limit price. Until then, the application remains open in the request book.
This person stayed alone the fixed price on OKX for more than a minute, causing market makers and robots assets to be bought despite selling panic in the wider market. Through this method, the perpetrator was able to empty the distinctive symbols during the accident.
The case, then, is not that om fell because of a heinous actor trying to engineering the plane crash. Instead, the problem is that one entity can deal with the markets completely.
For an attack like this, the maximum of the om market must be much more fragile than expected.
In other words, although the om market cap was theory, it took a relatively small investment to disrupt the RWA code like House of Cards. Some even forecast This merchant was not even trying to cause a crisis.
Instead, they may have been forced to sell because of the loan conditions or risk limits. Some slight manipulation can lead to a greater disaster.
Disintegration
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