The **OM token** from the decentralized community-governed ecosystem, **Mantra**, experienced a dramatic **90% crash** in its price. This catastrophic event ignited widespread concern and **allegations of insider trading** among the community. According to **Mantraβs CEO**, JP Mullin, the devaluation was primarily due to a forced sales frenzy fuelled by '**reckless liquidations**' undertaken by certain crypto exchanges. In response to the market turmoil after the OM token's wipeout, Mantra has proposed a **burning of 300 million** team tokens. JP Mullin has committed to personally **burn 150M of his OM tokens** in an attempt to recoup community trust and stimulate the redemption process. Despite this, the token is still **struggling to regain its position**, leading to heightened investor trepidation. Amidst accusations, **Mantra firmly rejects claims of unauthorized insider selling**. Plans for a **token buyback and other recovery strategies** are being actively outlined, but were also mentioned that these strategies are in their early phases. In a unique revelation, **centralized risk and exchange liquidations** are being held responsible for the OM token's steep fall. The chaotic situation underlines a serious liquidity problem, identifying a critical vulnerability in the crypto sphere.
MANTRA Token News Analytics from Tue, 18 Feb 2025 08:00:00 GMT to Wed, 18 Jun 2025 16:00:00 GMT -
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