On April 13, 2025, the token $OM experienced a sudden and severe drop, falling from approximately $6.30 to a low of $0.37 within hours — a decline of more than 90%.
Though it recovered slightly to trade between $0.60 and $0.80 the next day, the damage was significant:
Market cap plunged by around $5.5 billion
Trading volume spiked by 2979%, hitting $2.25 billion in 24 hours
The MANTRA team described the event as “unprecedented,” drawing comparisons to historical crashes like Terra LUNA in 2022
This volatility sparked conversations around the due diligence process used by exchanges when deciding whether or not to list certain tokens.
Bitget’s Approach: A Calculated Decision
Bitget received multiple requests to list $OM. However, the exchange chose not to move forward with the listing.
This wasn’t a matter of luck — it was a conscious strategy based on a few key principles:
Risk assessment first: Even during moments of hype, Bitget follows a structured evaluation process before onboarding a token.
Strict quality criteria: Projects need to demonstrate strong fundamentals, active communities, and transparent governance.
User protection over short-term trends: Bitget places long-term credibility above the temptation of riding viral waves.
What This Tells Us About Token Listings
The $OM event is more than just a market anomaly — it’s a reminder.
Not all trending tokens are viable in the long term
RWA projects, while promising, still require scrutiny and healthy skepticism
Exchanges carry a responsibility that goes beyond liquidity — they act as filters for credibility in an evolving market
By resisting the pressure to chase every hype cycle, platforms like Bitget help set a standard for what responsible exchange behavior looks like.
Closing Thoughts
As Web3 matures, credibility is becoming the real currency. The $OM situation underscores why careful evaluation should never be optional — for investors, for builders, and for exchanges alike.