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Crypto Trader Turns $378K Into $50.64M as OM Token Soars 900%

The cryptocurrency market is used to dramatic price spikes but few investors get life changing gains.

One smart trader just did that, turning $378K into $50.64M in 9 months thanks to OM token’s 900% price surge.

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According to blockchain data, the investor – under the handle Magnifold Trading – bought 9.33 million OM tokens at an average price of $0.04 each. As the token price went up, so did the trader’s portfolio, ending in a multi-million dollar windfall. The investor has already cashed out 4 million tokens for $13.27M and is holding onto the remaining supply speculating on more upside.

What’s Fueling OM Token’s 900% Rally?

Mantra (OM) is now the 22nd largest cryptocurrency with a market cap of $7.14B and has seen a 3,000% growth in the past year. Its latest surge – 105% in the past month – was mainly driven by key developments and regulatory approvals.

Key Drivers Behind OM’s Price Explosion:

  • Regulatory Milestone: Mantra got a Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA) which strengthens its legitimacy and market appeal.

  • Institutional Interest: Growing institutional interest and increasing adoption of Mantra’s ecosystem is driving up demand for OM tokens.

  • New All-Time High (ATH): The token hit $7.95 just 4 days ago before settling at its current price of $7.33 showing sustained momentum.

Can OM Token Hit $15 or Higher?

Analysts are divided on OM’s future, some are expecting more upside while others are expecting a pullback.

OM Token Price Chart - Source: Tradingview
OM Token Price Chart – Source: Tradingview

  • Bullish Predictions:

    • Crypto analyst Rache Crypto suggests that if OM maintains its current momentum, a rally to $15 is within reach.

    • Other market experts set even higher targets, with some eyeing $20 in the mid-term.

  • Bearish Concerns:

    • Some analysts caution that OM may face resistance around $8.50.

    • Market volatility could trigger a short-term retracement before the next leg up.

Bottom Line

Mantra has proven itself to be one of the top assets in the crypto space. The recent surge was crazy but market dynamics says there’s more upside and potential for correction. For now OM is trading at $7.33 and the investor’s portfolio is worth $50.64M that’s a 13,410% return.

Whether OM reaches $15 and beyond or has a short term retracement, it’s one of the most exciting stories in the crypto space right now.

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ABOUT THE AUTHOR See More
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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