The crypto investor mood took another hit after Mantra’s OM token fell by more than 90% in just a few hours on April 13th. This triggered comparisons with previous black swans such as Terra-Luna’s collapse.
Coinbase’s institutional investor report also raised concerns, stating that the cryptocurrency market may not recover until 2025.
Mantra OM token crash exposes “critical” Liquidity issues in Crypto
Mantra’s recent token collapse highlights a crypto-industry issue of fluctuating weekends liquidity levels, creating extra downside volatility. This may have contributed to the token’s fall.
The MantraOM) The price of tokens collapsed by over 90% Cointelegraph reports that the market fell below $0.50 on Sunday, 14 April, from about $6.30. Disillusioned traders began to make accusations of manipulation.
Gracy Chen is the CEO of Bitget, a cryptocurrency exchange. She says that while blockchain analysts still haven’t figured out the exact reasons for the OM crash, this event has highlighted some important issues in the crypto world.
“The OM token crash exposed several critical issues that we are seeing not just in OM, but also as an industry,” Chen spoke during Cointelegraph Chainreaction’s daily X show, adding:
“When it’s a token that’s too concentrated, the wealth concentration and the very opaque governance, together with sudden exchange inflows and outflows, […] combined with the forced liquidation during very low liquidity hours in our industry, created the big drop off.”
Crypto in a bear market, rebound likely in Q3 — Coinbase
Coinbase, a publicly-traded US crypto exchange, has released a review of its monthly markets. It shows that the crypto market may have contracted but is gearing up to enjoy a more prosperous quarter.
Coinbase’s monthly report for April 15th, 2019. outlook For institutional investors, altcoin’s market cap has shrunk by 41% since its highs in December 2024 of $1.6 trillion. By mid-April it had fallen to $950 Billion. BTC Tools shows this metric reached its lowest point of $906.9 Billion on April 9. It was at $976.9 Billion at the time.
Venture capital funding to crypto projects has reportedly decreased by 50%–60% from 2021–22. David Duong of Coinbase’s global research head, David Duong highlighted in the report that a crypto winter could be on its way.
“Several converging signals may be pointing to the start of a new ‘crypto winter’ as some extreme negative sentiment has set in due to the onset of global tariffs and the potential for further escalations,” “He said”
Manta founder details attempt Zoom hack by Lazarus using very real “legit faces”
Kenny Li, co-founder of Manta Network, said that a sophisticated Zoom phishing scam targeted him. The attack used recordings from familiar faces to try to get Li to download malicious software.
It was a real meeting with the camera of the impersonator on. However, the absence of sound, and the prompting to download the script, raised suspicions. said In an April 17, X-post.
“I could see their legit faces. Everything looked very real. But I couldn’t hear them. It said my Zoom needs an update. But it asked me to download a script file. I immediately left.”
Li requested that the impersonator verify their identity over Telegram, but they refused and deleted all of his messages.
Li said North Korean state-backed Lazarus Group The attack was a result of terrorism.
It is important to note that the word “you” means someone. Manta Network Li, the co-founder of Google Meet, managed to capture a screenshot of his initial conversation with attacker Li before the messages had been deleted.
Li told Cointelegraph that he believes the shots of the team used for the video were taken from old recordings.
“It didn’t seem AI-generated. The quality looked like what a typical webcam quality looks like.”
CoinGecko reports that AI tokens (memecoins) and memecoins are the dominant crypto narratives for Q1 2025.
There are few trends that will replace current themes and dominate the market in the first three quarters of 2025.
Artificial intelligence According to a report from a quarterly market research firm, tokens and memecoins accounted for 62.8% interest in 2025. CoinGecko. The global interest in AI tokens has risen to 35.7%. Memecoins are still second, with a share of 27.1%.
Six of the 20 top crypto stories of the third quarter were related to memecoins, while the other five dealt with AI.
“Seems like we have yet to see another new narrative emerge and we are still following past quarters’ trends,” In an article published on April 17, Bobby Ong, co-founder of CoinGecko and Chief Operating Officer, said that he was the chief operating officer at CoinGecko. post. “I guess we are all tired from the same old trends repeating themselves.”
DeFi lending surges 959%, Crypto loans down 43 percent from highs in 2021
Crypto lending is still a small market compared to its peak of $64 billion, however decentralized financing (DeFi), or borrowing through a DeFi platform has recovered more than 90% from the bear market lows.
Crypto lending enables Borrowers can use crypto assets as collateral for crypto loans or to borrow fiat, and lenders can generate interest by using their crypto assets.
According to Galaxy Digital’s research, the crypto lending market has dropped by over 43% from its high point of $64.4 Billion in 2021, to just $36.5 Billion at the end the the fourth quarter 2024. report Published on April 14, 2019.
“The decline can be attributed to the decimation of lenders on the supply side and funds, individuals, and corporate entities on the demand side,” Zack Pokorny is a Galaxy Digital research analyst.
In 2022, the decline of crypto lending began when lenders from centralized finance (CeFi), such as Genesis, Celsius Network and BlockFi, filed bankruptcy in less than two years, due to falling crypto values.
CeFi’s lending lost 82% its outstanding loans, a collapse of 78%, the report states.
Overview of the DeFi Market
The data collected from Cointelegraph Markets Pro TradingView reports that the majority of top 100 cryptos by market cap ended up in green.
Decentralized exchange (DEX) The AB Blockchain () and Raydium (RAY), which are both tokens, rose by over 26 percent this week.ABThe weekly chart shows that the utility token is up by over 19%.
Thank you for reading this summary of the most important DeFi news from last week. Next Friday, we’ll be back with more information and stories about this rapidly evolving space.
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Source: cointelegraph.com
