Many intelligent investors are making profits during the ongoing 2024 market bull rally. Another trader has made a huge fortune with a little token, Mantra ($OM) today.
A crypto trader has grown its wealth from $38,700 to $6.27 million, as per data provided by Lookonchain.
On June 6, 2023, the investor used $38,700 to purchase 1.49 million $OM from Binance when the tokens were trading low of $0.026.
According to the on-chain analytics platform, the trader made a 161x return on the cryptocurrency after holding $OM tokens for a few months.
In just 18 months, the trader saw these assets rise tremendously and sold them, earning him a profit worth $6.27 million. In the last five days, the trader deposited 600,000 $OM tokens (worth $2.53 million) to Binance to take profits, with 889,000 $OM tokens (worth $3.74 million) still left in his wallet.
$OM price analysis
MANTRA ($OM) gained significantly over the previous week, reaching an all-time high of $4.44 early today, November 18th, 2024. Despite $OM’s massive price increase, the wider digital asset market capitalization moderately increased, currently standing at $3.09 trillion, a 0.85% rise in the last 24 hours.
$Mantra rose its value by 137% in the past seven days, with its price currently trading at $4.06, an increase of 49% over the previous 24 hours.
Mantra Continues Growing
$OM, the native token of the Mantra layer -1 blockchain, has become one of the leading performers in the altcoin market. It’s currently position 33rd among the major crypto assets with its market capitalization reading at $3.66 billion.
Market analysis shows that there is a rising excitement among $OM investors as they are expecting a potential airdrop in the forthcoming days.
MANTRA Chain Airdrop announced the airdrop event, which consequently led to the token reaching an all-time high of $4.4, and its daily active address rose by 570%. This signals that the token has a rising interest among its users, leading to increased trading activity.
$MANTRA is also witnessing an increase in whale activity because of the recent price appreciation. The increasing interest of big investors signifies the OM market’s bullishness.
