Mantra’s Adoption Collapses by 99.7%—Is OM’s Price Surge Just a Mirage?
While Mantra (OM) has seen impressive price growth, its network fundamentals are rapidly deteriorating, raising questions about how long the rally can last.
Adoption Freefall: A Red Flag for OM?
📉 New address creation has plummeted by 99.7%, dropping from 110,517 in November to just 252—a massive decline signaling a shrinking user base.
📉 The adoption rate has fallen from 53% to 23% in just a week, suggesting dwindling demand and weakening on-chain activity.
📉 Price DAA divergence has remained negative for three weeks, further confirming the lack of new participants in the network.
Despite the Network Decline, OM’s Price Holds Strong—For Now
🔥 OM is currently trading at $7.53, up 5.73% in the last 24 hours and 57.85% over the past month.
📊 However, bearish sentiment is rising, with 52.66% of futures traders holding short positions—a sign that many expect the price to drop soon.
📊 Exchange inflows are increasing, with $1.02 million in net positive flows, suggesting that more traders are moving OM to exchanges—likely preparing to sell.
Can OM’s Price Hold, or Is a Drop to $7.00 Inevitable?
⚠️ If adoption continues to shrink, speculative demand could fade, leading to a retracement toward $7.00.
⚡ If the uptrend holds short-term, OM may attempt to break $8.00, but sustained gains will require a recovery in user adoption.
Right now, OM’s price surge isn’t backed by strong fundamentals—so is this just a speculative bubble waiting to pop?
