⇓ MANTRA Token Buybacks and Burn Initiatives Following Catastrophic OM Token Crash
MANTRA , a cryptocurrency based on the OM Token, underwent a massive shift in the market with its value plummeting by as much as 90% due to a...
In a shocking turn of events, MANTRA token (OM) witnessed a steep 90% drop, which led to a market cap decline to $683 million. Investors pointed fingers at reckless liquidations for this drastic collapse. Communications revealed that OKX, a renowned global cryptocurrency exchange, accused MANTRA of misleading OM holders. In response, the MANTRA CEO vehemently denied these allegations and outlined a recovery plan for the token, including burning $80M of his tokens. Despite a $25M buyback plan from MANTRA, the token price continues to struggle, prompting fear of another LUNA-style incident.
With the market cap shrinking further, founder JP Mullin plans to burn $82 million worth of his OM tokens to regain investor trust. This severe crash has caused a ripple effect in the market. So, was it MANTRA or the Market that triggered this crash? While the debate continues, MANTRA has announced its plans for a 1:4 token split and rebranding OM as MANTRA for global expansion.
Despite the recent turmoil, traded OM tokens have risen up to 100%, sparking comparatives to Terra’s LUNA. While some in the markets view this dip as a 'buy the opportunity', it's clear that risks and consequences of this crash are not to be overlooked.
MANTRA Token News Analytics from Tue, 18 Feb 2025 08:00:00 GMT to Mon, 15 Dec 2025 08:00:00 GMT - Innovation -4 - Information 6 - Rumor -7
