PANews reported on April 14th that, according to Formula News, an unidentified market maker experienced an algorithmic error after the OM (Mantra) flash crash, accidentally causing a 20% surge in the BTC Dominance (BTCDOM) perpetual contract on Binance.
The BTCDOM index components include the top 20 cryptocurrencies by market capitalization on Binance and Binance Futures, excluding BTC and stablecoins, with OM accounting for approximately 5% of the weight. This abnormal fluctuation is suspected to be due to the market maker's incorrect interpretation of OM's price volatility as a market structural change, mistakenly triggering a strategic buy operation.