having @SequenceGenerator(initialValue = 10000)
with an Oracle database
and the creation of the sequence of
CREATE SEQUENCE TRXM_OTP_PASSWORD_SEQ START WITH 10000;

results in sequence values before 10000!

this is most likey because of a bug in the
https://github.com/hibernate/hibernate-orm/blame/master/hibernate-core/src/main/java/org/hibernate/id/enhanced/PooledOptimizer.java

In line 82:
// the call to obtain next-value just gave us the initialValue
if ( ( initialValue == -1

which is not true for above definition.

I see sequence values of 995x used which comes from the increment - 1, for the default allocation size of 50.

also when running on two nodes we see primary key violation because of duplicate keys for our table.