MANTRA token, recognized through its coded name OM, has been making the headlines following its abrupt
90% price melt-down. The depreciation is tied to certain proposed
risky cryptocurrency exchange policies, mentioned by the company, which were exploited and resulted in the token price crash. Amid the uproar, Mantra's CEO denied any insider trading allegations and attributed the price collapse to
'reckless liquidations'.
In an attempt to salvage the brand image and reignite faith in investors, Mantra's CEO communicated plans to
consume and destroy team's tokens. There was a significant recovery of
200% following the price crash, however, forewarning signs suggest a latent 'big scandal' risk. Continuing efforts from the CEO focused primal on OM token recovery - seeking balance amidst the turmoil.
Mantra's co-founder, JP Mullin, addressed the scenario to clarify and justify the reasons behind the unfortunate event. Attempting to revive trust and support, the CEO has initiated the process of burning his
150M OM tokens. Despite these damage control strategies, price rectification has been a struggle and investors' faith seems to be hanging by a thread.
The Mantra CEO maintains refusal over supplying a wrong set of risks, countering the blames earned post the flash token crash. The token crash eventually resulted in
86% investors bearing losses below their initial investment, casting pessimistic faith in the token's future.
As a recovery strategy,
300M unit of tokens were destroyed in a surprise move. With the overall atmosphere being bittersweet - positive with the token recovery movement yet negative with an ongoing skepticism clouding the future.
MANTRA Token News Analytics from Sun, 13 Apr 2025 07:00:00 GMT to Wed, 07 May 2025 17:00:38 GMT -
Rating -8
- Innovation -3
- Information 4
- Rumor -2
