In a dramatic market shift,
Mantra's OM Token saw a significant value loss, crashing by a staggering
90% and subsequently erasing billions from its market cap. Factors like
'reckless liquidations' and risky crypto exchange policies were linked to the crash, causing a lot of uproar in the
crypto community.
Post-crash reactions from Mantra sought to deny responsibility, blaming forced liquidations and fraudulent labeling of wallets. However, along with the fallout, there was a hint of recovery when the token saw a minor rebound. Mantra Co-founder,
JP Mullin announced plans of burning 300M team tokens as well as his personal 150M OM tokens to win back community trust. This strategic move seems to have helped, as the
OM Token value surged
15.7% post-listing on Upbit. Yet, critics and investors are wary about recovery with claims of fraud allegations and insiders dumping doing the rounds. Meanwhile, some continue to defend the brand, with the Mantra CEO denying insider selling allegations and revealing
recovery plan details for the efficient management of the token crisis.
MANTRA Token News Analytics from Mon, 13 Jan 2025 08:00:00 GMT to Mon, 30 Jun 2025 11:19:39 GMT -
