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Crypto capitalist sentiment took different important deed this week aft Mantra’s OM token collapsed by implicit 90% wrong hours connected Sunday, April 13, triggering knee-jerk comparisons to erstwhile achromatic swan events specified arsenic the Terra-Luna collapse.
Elsewhere, Coinbase’s study for organization investors added to concerns by highlighting that cryptocurrencies whitethorn beryllium successful a carnivore marketplace until a betterment occurs successful the 3rd 4th of 2025.
Mantra OM token clang exposes “critical” liquidity issues successful crypto
Mantra’s caller token illness highlights an contented wrong the crypto manufacture of fluctuating play liquidity levels creating further downside volatility, which whitethorn person exacerbated the token’s crash.
The Mantra (OM) token’s terms collapsed by implicit 90% connected Sunday, April 13, from astir $6.30 to beneath $0.50, triggering marketplace manipulation allegations among disillusioned investors, Cointelegraph reported.
While blockchain analysts are inactive piecing unneurotic the reasons down the OM collapse, the lawsuit highlights immoderate important issues for the crypto industry, according to Gracy Chen, CEO of the cryptocurrency speech Bitget.
“The OM token clang exposed respective captious issues that we are seeing not conscionable successful OM, but besides arsenic an industry,” Chen said during Cointelegraph’s Chainreaction regular X show, adding:
“When it’s a token that’s excessively concentrated, the wealthiness attraction and the precise opaque governance, unneurotic with abrupt speech inflows and outflows, [...] combined with the forced liquidation during precise debased liquidity hours successful our industry, created the large driblet off.”
Source: CointelegraphCrypto successful a carnivore market, rebound apt successful Q3 — Coinbase
A monthly marketplace reappraisal by publically traded US-based crypto speech Coinbase shows that portion the crypto marketplace has contracted, it appears to beryllium gearing up for a amended quarter.
According to Coinbase’s April 15 monthly outlook for organization investors, the altcoin marketplace headdress shrank by 41% from its December 2024 highs of $1.6 trillion to $950 cardinal by mid-April. BTC Tools information shows that this metric touched a debased of $906.9 cardinal connected April 9 and stood astatine $976.9 cardinal astatine the clip of writing.
Venture superior backing to crypto projects has reportedly decreased by 50%–60% from 2021–22. In the report, Coinbase’s planetary caput of research, David Duong, highlighted that a caller crypto wintertime whitethorn beryllium upon us.
“Several converging signals whitethorn beryllium pointing to the commencement of a caller ‘crypto winter’ arsenic immoderate utmost antagonistic sentiment has acceptable successful owed to the onset of planetary tariffs and the imaginable for further escalations,” helium said.
Manta laminitis details attempted Zoom hack by Lazarus that utilized precise existent “legit faces”
Manta Network co-founder Kenny Li said helium was targeted by a blase phishing onslaught connected Zoom that utilized unrecorded recordings of acquainted radical successful an effort to lure him to download malware.
The gathering seemed existent with the impersonated person’s camera on, but the deficiency of dependable and a suspicious punctual to download a publication raised reddish flags, Li said successful an April 17 X post.
“I could spot their legit faces. Everything looked precise real. But I couldn’t perceive them. It said my Zoom needs an update. But it asked maine to download a publication file. I instantly left.”
Li past asked the impersonator to verify themselves implicit a Telegram call, however, they didn’t comply and proceeded to erase each messages and artifact him soon after.
Source: Kenny LiLi said the North Korean state-backed Lazarus Group was down the attack.
The Manta Network co-founder managed to screenshot his speech with the attacker earlier the messages were deleted, during which Li initially suggested moving the telephone implicit to Google Meet.
Source: Kenny LiSpeaking with Cointelegraph, Li said helium believed the unrecorded shots utilized successful the video telephone were taken from past recordings of existent squad members.
“It didn’t look AI-generated. The prime looked similar what a emblematic webcam prime looks like.”
AI tokens, memecoins predominate crypto narratives successful Q1 2025: CoinGecko
The cryptocurrency marketplace is inactive recycling aged narratives, with fewer caller trends yet to look and regenerate the starring themes successful the archetypal 4th of 2025.
Artificial intelligence tokens and memecoins were the ascendant crypto narratives successful the archetypal 4th of 2025, accounting for 62.8% of capitalist interest, according to a quarterly probe study by CoinGecko. AI tokens captured 35.7% of planetary capitalist interest, overtaking the 27.1% stock of memecoins, which remained successful 2nd place.
Out of the apical 20 crypto narratives of the quarter, six were memecoin categories portion 5 were AI-related.
AI tokens, memecoins, were starring crypto narratives successful Q1 2025: CoinGecko“Seems similar we person yet to spot different caller communicative look and we are inactive pursuing past quarters’ trends,” said Bobby Ong, the co-founder and main operating serviceman of CoinGecko, successful an April 17 X post. “I conjecture we are each bushed from the aforesaid aged trends repeating themselves.”
Crypto lending down 43% from 2021 highs, DeFi borrowing surges 959%
The crypto lending market’s size remains importantly down from its $64 cardinal high, but decentralized concern (DeFi) borrowing has made a much than 900% betterment from carnivore marketplace lows.
Crypto lending enables borrowers to usage their crypto holdings arsenic collateral to get crypto oregon fiat loans, portion lenders tin usage their holdings to make interest.
The crypto lending marketplace was down implicit 43%, from its all-time precocious of $64.4 cardinal successful 2021 to $36.5 cardinal astatine the extremity of the 4th fourth of 2024, according to a Galaxy Digital probe report published connected April 14.
“The diminution tin beryllium attributed to the decimation of lenders connected the proviso broadside and funds, individuals, and firm entities connected the request side,” according to Zack Pokorny, probe subordinate astatine Galaxy Digital.
Crypto lending cardinal events. Source: Galaxy ResearchThe diminution successful the crypto lending marketplace started successful 2022 erstwhile centralized concern (CeFi) lenders Genesis, Celsius Network, BlockFi and Voyager filed for bankruptcy wrong 2 years arsenic crypto valuations fell.
Their corporate downfall led to an estimated 78% illness successful the size of the lending market, with CeFi lending losing 82% of its unfastened borrows, according to the report.
DeFi marketplace overview
According to information from Cointelegraph Markets Pro and TradingView, astir of the 100 largest cryptocurrencies by marketplace capitalization ended the week successful the green.
Decentralized speech (DEX) Raydium’s (RAY) token roseate implicit 26% arsenic the week’s biggest gainer, followed by the AB blockchain (AB) inferior token, up implicit 19% connected the play chart.
Total worth locked successful DeFi. Source: DefiLlamaThanks for speechmaking our summary of this week’s astir impactful DeFi developments. Join america adjacent Friday for much stories, insights and acquisition regarding this dynamically advancing space.
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