Mantra Chain's OM Token Experiences 35% Surge in 24 Hours

OM, the native token of Mantra Chain, surged 35% in just 24 hours, reaching $2.72. This sharp rise pushed the market cap to $1.9 billion, a 32% jump. 

Trading volume also soared by 215%, reaching $867 million. Active trading across multiple exchanges contributed to this impressive performance. 

OM Token Sees Strong Trading Activity

OM is actively traded on several exchanges, with Bitunix leading the pack. The OM/USDT pair on Bitunix recorded $33.68 million in 24-hour volume, making up almost 4% of the total. 

Other exchanges like Ourbit and DigiFinex also saw significant volume. Ourbit handled $13.23 million, while DigiFinex saw $80.2 million in trades.

This increased trading activity signals rising interest in OM from both retail and institutional investors. 

However, the sharp price movements also suggest some volatility in the market. Shortly after the surge, OM’s price dropped by 3%. 

Can OM Maintain the Upward Trend?

OM’s total supply stands at 888.89 million tokens, with 855.14 million in circulation. Despite recent whale activity, the token has gained significant attention. 

If demand continues, the price could rise further. But, with whales potentially offloading more tokens, the market may see more price fluctuations.

For now, OM remains one of the top performers in the market. Future price movements depend on whether the buying pressure continues or if whales dominate the market.