According to Glassnode's analysis, $OM plummeted to below $1 in a short period of time today, and at 08:20 UTC, a large amount of 38 million pieces with an average price of $0.71, was transferred to the exchange, indicating panic or arbitrage. During the plunge, the proportion of holdings in the first 1% dropped from 96.4% to 95.6%, indicating that large investors sold or liquidated. The market value has evaporated by approximately US$740 million in just a few hours. The surge in the number of transfers and active addresses indicates that the market is involved on a large scale. This round of selling was not dominated by early coin holders, and it reflected more systemic market reactions.