Ethereum price has also seen a correction, but still demonstrates strong performance on longer timeframes. Several analysts are still optimistic about ETH’s future and indicate that the recent drop could provide a buying opportunity prior to a possible rise to $4,000. Analysts are bullish on the Ethereum price Despite the recent market correction, leading crypto analysts like Michaël van de Poppe have optimistic expectations for the Ethereum price. Price targets also suggest a potential rally to $4,000. The ETH price performance is still positive, with 57.2% returns in the past month. $ETH goes towards the ‘buy the dip’ range. Sub $2,400 is the area where you’d want to accumulate before the next run towards $4,000. pic.twitter.com/y56cKttUHY — Michaël van de Poppe (@CryptoMichNL) May 19, 2025 Analyst Michaël van de Poppe noted what he calls a “buy the dip” region. He indicated that prices below $2,400 provide an accumulation opportunity “before… Read More at Coingape.com
The MANTRA (OM) token suffered a catastrophic price collapse on April 13, plummeting over 90% in under an hour and wiping out more than $5.5 billion in market capitalization.
The sudden crash, which took OM from a high of $6.33 to below $0.50, has drawn comparisons to the infamous Terra LUNA meltdown, with thousands of holders reportedly losing millions.
Why did MANTRA (OM) Crash?
Multiple reports suggest that the trigger is a large token deposit linked to a wallet allegedly associated with the MANTRA team. Onchain data shows a deposit of 3.9 million OM tokens to OKX, sparking concerns about a possible incoming sell-off.
Given that the MANTRA team reportedly controls close to 90% of the token’s total supply, the move raised immediate red flags about potential insider activity and price manipulation.
The OM community has long expressed concerns around transparency. Allegations have surfaced over the past year suggesting the team manipulated the token’s price through market makers, changed tokenomics, and repeatedly delayed a community airdrop.
When the OKX deposit was spotted, fears that insiders might be preparing to offload were amplified.
Reports also indicate that MANTRA may have engaged in undisclosed over-the-counter (OTC) deals, selling tokens at steep discounts — in some cases at 50% below market value.
As OM’s price rapidly declined, these OTC investors were thrown into losses, which allegedly sparked a mass exodus as panic selling took hold. The chain reaction triggered stop-loss orders and forced liquidations on leveraged positions, compounding the collapse.
The MANTRA team has denied all allegations of a rug pull and maintains that its members did not initiate the sell-off.
In a public statement, co-founder John Patrick Mullin said the team is investigating what went wrong and is committed to finding a resolution.
The project’s official Telegram channel was locked during the fallout, which added to community frustration and speculation.
“We have determined that the OM market movements were triggered by reckless forced closures initiated by centralized exchanges on OM account holders. The timing and depth of the crash suggest that a very sudden closure of account positions was initiated without sufficient warning or notice,” wrote MANTRA founder JP Mullin.
If OM fails to recover, this would mark one of the largest collapses in crypto history since the Terra LUNA crash in 2022.
Thousands of affected holders are now demanding transparency and accountability from the MANTRA team, while the broader crypto community watches closely for answers.
Airdrop activity continues to heat up, with three newly launched tokens—SXT, RIZE, and DOOD—drawing investor attention in the fourth week of May. Space and Time launched its SXT token with an airdrop as a part of the new Chainlink rewards program.
Meanwhile, RIZE powers the Rizenet ecosystem, which is focused on tokenization and decentralized AI. DOOD, the native token of the Doodles NFT collection, joins the wave of NFT projects following the footsteps of APE and PENGU.
Space and Time (SXT)
The latest Space and Time (SXT) airdrop launched on May 8, 2025, as part of its official token generation event (TGE). The airdrop is integrated with Binance Launchpool and Chainlink’s new Rewards program.
The project is distributing 200 million SXT tokens into two batches, representing 4% of the total supply. Eligible users include participants in the Chainlink ecosystem, including LINK stakers, users who engaged in Space and Time’s testnet, and held Community NFTs.
Also, the SXT airdrop claim will be live until June 22.
SXT has been down since its airdrop, and if the correction continues, it could soon start trading below $0.10.
It needs a strong buying pressure to return to levels around $0.126, and if that one is broken, it could rise back to test the resistance around $0.163.
RIZE
RIZE is the native utility token of Rizenet, a decentralized platform for tokenizing real-world assets (RWAs), decentralized AI (DeAI), and DeFi.
The $RIZE token has multiple uses. It pays for tokenization services, grants access to tokenized assets, enables governance through token locking, and rewards contributions to decentralized AI models. RIZE is currently live on Kraken and Aerodrome.
From a technical standpoint, the RIZE token is at a critical point. If it manages to break through the resistance level at $0.064, bullish momentum could drive the price back toward the $0.10 region.
However, failure to maintain its current support at $0.0485 may trigger a downside move, with potential losses extending below the $0.040 mark.
Doodles
Doodles is a well-known NFT collection that originally gained popularity for its colorful, hand-drawn characters and strong community engagement.
It recently launched its own token, DOOD, marking its entry into the growing trend of NFT-native tokens—a path first carved out by Bored Ape Yacht Club with APE and later followed by Pudgy Penguins with the PENGU token in 2024.
Despite the initial excitement surrounding the DOOD airdrop, the token has struggled to maintain upward momentum, falling 35% over the last five days.
The price now faces a key resistance at $0.0052—breaking above this level would be necessary to signal a potential recovery and open the door for a move toward $0.00735.
However, continued bearish pressure could push DOOD below the $0.0040 support, marking new lows and further eroding market confidence.
The Solana Foundation has launched the Solana Attestation Service (SAS). This is a decentralized identity verification protocol designed to simplify compliance and enhance trust across the network.
Announced on May 23, the tool allows applications to validate off-chain data, such as Know Your Customer (KYC) checks and user accreditation. It does this without directly handling sensitive user information.
Solana Launches Identity Layer Amid Rising Global Crypto Interest
Solana Foundationsaid SAS introduces cryptographically signed, reusable credentials that trusted parties can issue. Once verified, users can seamlessly interact with multiple platforms without repeating onboarding or verification steps.
“SAS enables compliance, access control, reputation systems, and programmable identity across the Solana ecosystem. It’s a better, easier experience for both end users and builders,” the Solana Foundation stated.
This design removes the need for developers to maintain identity backends, significantly lowering the barrier for integrating compliance features.
According to the Foundation, SAS supports a wide range of use cases. These include DeFi compliance, access control in blockchain games, Sybil resistance in DAOs, and location-based verification for connected devices.
Builders can use the tool to enforce region-based restrictions, establish user uniqueness, and create programmable reputation systems.
SAS marks the first release from the newly established Solana Identity Group, a coalition of contributors including Civic, Solana.ID, Solid, Trusta Labs, and the Foundation itself. The group aims to develop privacy-preserving identity primitives tailored for the Web3 era.
Meanwhile, the launch comes amid rising interest from traditional finance in Solana’s infrastructure. Nzube Ezido, country lead for Solana Superteam NG, described SAS as a critical piece of the network’s evolving financial stack.
“This might be one of the most important primitives launched in a very long time. As we quickly ramp up on the capital market narrative, oracles that keep RWA in sync will need this to offer trust for on-chain to off-chain state,” Ezido stated.
Over the past months, several traditional financial institutions have been exploring the network’s potential for asset tokenization due to its speed, scalability, and low fees.
This is evidenced by the fact that R3—a blockchain infrastructure provider with over $10 billion in assets on its Corda platform—was partnering with Solana. The collaboration aims to onboard clients like HSBC and other major financial institutions to leverage the network’s features.
