Farcaster

This is the answer to the $OM case, $8B market cap down to just $380M — a 20x drop.🔥

📌127M $OM tokens (worth $1.1B at ATH), accounting for 13% of the circulating supply, have left #Binance in the past 30 days.

📌Meanwhile, OKX has seen nearly 70M tokens deposited, which is more than half of what was withdrawn from Binance. The rest were spread across smaller exchanges like BTCturk, Bybit, Kucoin, etc.

📌As of now, insiders have dumped around 30M tokens, with 40M tokens still sitting on OKX → meaning the selling pressure remains extremely high.

There’s no longer any doubt: projects, exchanges, and funds are dumping on retail by mass-depositing tokens to exchanges. Among them, LaserDigital who joined the strategic round in May last year.