⇓ Roller-coaster Ride: MANTRA’s Token OM’s Recent Market Chaos and Recovery Plans
MANTRA's OM token had an alarming rate of decline recently, tumbling by about 90% within a very short time, resulting in a drastic reduction in...
The Mantra Token, also known as the OM Token, recently experienced a crash that resulted in a value loss of 90%. This was reportedly due to 'reckless liquidations', which caused a considerable amount of turmoil in the cryptocurrency market. Following this drastic decline, Mantra's market share saw a wipeout of $5.2 billion. This catastrophic event has raised several questions about crypto market liquidity. A key controversy in this scenario is the denial of involvements from major investors such as Laser Digital, who have insisted that their core holdings remain unaffected by the crash.
Further exacerbating the issue was the mass movement of $227 million to exchanges, sparking insider dumping concerns. Amidst these controversies, the Mantra CEO has initiated a recovery plan, which includes burning team tokens in an attempt to regain the trust of the community. Alleged ties have also been drawn towards a potential collaboration between Mantra and DAMAC to tokenize $1 billion in the Middle East.
However, the Mantra CEO continues to pin the blame on the risky policies of crypto exchanges for the crash. Notably, the OM coin price plunged 90%, which attracted fraud allegations, making investors question if the Mantra crash could be the next crypto catastrophe. In an interesting move, Mantra's founder aims to reintroduce trust by initiating the burn of his 150 million OM tokens
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MANTRA Token News Analytics from Mon, 13 Jan 2025 08:00:00 GMT to Fri, 08 Aug 2025 07:49:00 GMT - Rating -9 - Innovation -2 - Information 3 - Rumor 2
