MANTRA's OM token experienced a massive 90% crash, which the founders attributed to forced exchanges and liquidation issues, erasing roughly $5 billion off its market capitalization. The drastic fall raised concerns about market liquidity and manipulation in the crypto industry. Mislabels on key wallets were said to be among the causes that triggered the collapse, leading to allegations of insider trading. To renew investors' trust, the MANTRA team has proposed to burn 300 million of its team tokens. Despite the controversy, the OM token recorded some gains, jumping around 25% and then 30% after the crash, apparently driven by the hype around the token burn. Some experts warned of the potential for a further crash, while others predicted a bounce-back to around $1. The MANTRA team has been heavily criticized for their perceived lack of clear communication, and certain key questions have been left unanswered. In addition, there was debate as to whether one particular exchange may have played a significant role in the OM collapse. The crash also sparked comparisons with other tokens that encountered similar issues, like Terra Luna. Allegations of insider trading continue to make the rounds, while JP Mullin, Mantra's co-founder, strongly denies such claims promising a comprehensive investigation to restore faith in the token.
MANTRA Token News Analytics from Fri, 11 Apr 2025 13:15:32 GMT to Wed, 16 Apr 2025 18:25:21 GMT -
Rating -10
- Innovation -5
- Information 5
- Rumor -5