币界网报道：Background information: Mantra (OM) tokens have been falling since early April, with prices falling from more than $8 to $0.2516, with no clear signs of rebound. Prices remain in a narrow range under low volume and momentum. Main events: - Whale address holdings increased by 2%, showing strong confidence; retail and medium investor holdings decreased by 7.56% and 4.33%, respectively, leading to concentrated holdings. - Large transaction volume decreased by 24.34%, indicating a weakening interest from large funds. - New addresses increased by 18.6%, but active addresses increased by only 0.44%, indicating that most new wallets are idle or speculative. - 91.91% of OM holders are in a loss state, with losses concentrated in the range of $0.28 to $0.76, which may trigger selling pressure. - Short positions are concentrated above $0.2517, short liquidation leverage increases, and the market is biased to the downside. Potential impact: - The concentration of holdings and the loss of most holders make price rebounds difficult and recovery difficult. - A rebound may occur in the short term, but there is a lack of buying support and the possibility of a full reversal is low. - Without major changes in fundamentals, OM prices may continue to fall, and shorts will dominate the market. Summary: OM tokens face continued weakness, increased whale control, retail investors retreat, and low market sentiment, making it difficult to achieve an effective rebound in the short term.