Key Takeaways:
- Whale sold OHM from Olympus Dao, trigger the series of liquidation.
- Price fell 44% within the hour.
- The live price today is $11.67
At 10:00 (UTC+8) today, the whale sold OHM from Olympus Dao, which then triggered a series of liquidations of the protocol. Earlier, In an interview with UpOnly, the crypto whale explains why he is so bullish on the platform and adds that he is also advising the Olympus team to help them avoid exploits and to improve their tokenomics.
“Olympus Finance, it’s the new experiment in stablecoins 2.0, so unlike the Fei Protocol (FEI) I don’t believe it’s going for partial collateralization… It’s going for a fully backed reserve. So every single OHM is backed by at least one Dai, so there is a floor that you can count on.”
A long-time Bitcoin and Ethereum investor is sharing his strategy for finding promising new projects while shining a spotlight on one asset that meets his rigorous standards.
The price fell 44% within an hour. Before that, the pledged APY had reached 190,000%. The live Olympus v2 price today is $124.17 USD with a 24-hour trading volume of $26, 66, 31,188 USD. Whereas, the live WHALE price today is $11.67 USD with a 24-hour trading volume of $11, 30,367 USD. WHALE is down 1.41% in the last 24 hours. The current CoinMarketCap ranking is #466, with a live market cap of $8,52,12,306 USD.
About Olympus DAO
(OHM) is a decentralised finance solution built to help Decentralised Autonomous Organisations (DAOs) and DeFi solutions raise money by issuing bonds. The protocol aims to be a DeFi project detached from fiat-pegged stablecoins while preserving low volatility compared to other cryptocurrencies, Olympus ($OHM), aims to have no USD backing and instead relies on a DAO-governed treasury of unique DeFi assets.
