Binance Response to OM Flash Crash: Mainly Triggered by Cross-Platform Liquidation, Will Closely Monitor the Situation

BlockBeats News, April 14th, Binance officially stated that they noticed a significant price fluctuation of the MANTRA token OM. Initial investigations revealed that the recent day's volatility was mainly triggered by cross-platform liquidation.

Since October last year, Binance has implemented various risk control measures on the OM token, including reducing leverage levels. Binance will continue to monitor leverage levels and adjust them according to market conditions to enhance risk control and help reduce volatility.

Since January this year, Binance has also enabled a pop-up reminder on the spot trading page for OM, alerting users that the token's tokenomics has undergone significant changes, with an increase in the token's supply.

Binance will continue to closely monitor the situation and take appropriate actions to protect user interests and maintain the platform's stability and fairness.