What Happened in Crypto Today: Mantra $OM Crash Sparks Fear?

Why Crypto Market is Crashing Today: Is Mantra $OM Crash Behind It?

The global crypto market is slightly down today. The total market value of all cryptocurrencies is now $2.69 trillion, which is a small drop of 0.15% compared to yesterday.

But here’s something interesting — even though the market fell a little, people are trading more. The total trading volume in the past 24 hours went up by 12.68%, reaching $86.11 billion.

Out of this, about $8.55 billion came from DeFi (decentralized finance) platforms — that's almost 10% of all trading.

What Happened in Crypto Today: 4 Short Snippets

WLFI Buys $775K SEI Tokens Amid Losses

Trump-backed crypto group WLFI just bought 4.89 million SEI tokens for $775,000 using USDC on April 12. They already own coins like Bitcoin, Ethereum, Tron, and Avalanche, spending over $347 million on 11 tokens. 

But here’s the catch: none of them are in profit. Their portfolio is down by $145.8 million, with the biggest loss from Ethereum, which alone caused a $114 million dip, as reported by Lookonchain. Still, WLFI keeps buying in this tough market.

Is MicroStrategy About to Buy More Bitcoin? Michael Saylor Drops a Hint

Michael Saylor, boss of MicroStrategy, just posted a mysterious message on X: “No tariffs on orange dots,” along with the company’s $BTC tracker. 

Fans think this means a big BTC buy is coming. MicroStrategy already owns 528,185 BTC worth $44.7 billion but stopped buying in April. 

That pause made some worry the company might sell. Now, Saylor’s post has everyone excited that another huge $BTC purchase could be on the way.

Mantra Crypto Crash: OM Token Falls 90% Overnight

OM, the token of MANTRA Chain, dropped from $6 to just $0.72 in a single day, wiping out around over $5.2 billion in value. Many feared it was a scam, but the team says forced liquidations caused the crash. 

Reports show 43.6M tokens were moved to exchanges—some linked to big investor Laser Digital—raising questions about what’s next for OM.

Bitcoin Shows a Sign of Relief: Will It Maintain the Momentum?

It is currently priced at $84,737.24, showing a small gain of 0.42% in the last 24 hours. Its total value has reached a massive $1.68 trillion. 

What’s more exciting? The 24-hour trading volume has gone up by 12.09%, now standing at $31.73 billion. This means more people are buying and trading Bitcoin today compared to yesterday.

Will Crypto Market Recover?

So, today was a mix of ups and downs in the crypto world. The market went down a little, but people started trading more. 

Big names like MicroStrategy and WLFI are still showing interest by buying more tokens, even though their past investments are in loss. Bitcoin looks a bit strong for now, and even though OM token crashed badly, many are still hopeful. 

Let’s see what happens tomorrow — because in this industry, anything can change super fast.