According to Cas Abbé, $OM, known as the largest RWA token, experienced a dramatic 90% drop on April 13th, resulting in a $5.5 billion market value loss. A significant whale movement was identified as a catalyst: 4 million $OM tokens were transferred to OKX, leading to a 35% price decline due to low liquidity as the whale began selling. This highlights the risks associated with whale activities in relatively illiquid markets.

According to Crypto Rover, over $1 trillion in market value has been lost from the S&P 500 so far today. This significant drop could impact investor sentiment and liquidity in the cryptocurrency markets, as traditional market instability often leads traders to reassess risk exposure and redistribute assets, possibly affecting crypto trading volumes and volatility. Such a large-scale market movement may cause ripple effects across global markets, including cryptocurrency exchanges.