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 its market cap. This shocking reverse has been linked to
forced liquidations on the exchange platforms by many, including the coin's team. Allegations of
insider dumping have also surfaced, claims which the CEO strongly
denies, blaming the crash on 'reckless liquidations' by exchanges. Despite the turmoil, the team behind the token took immediate actions to resuscitate investor trust. The co-founder announced a plan of burning a sizable quantity of the team's tokens, the first phase of which involves burning his
150 million allocation. The final plan is to bring the total burn to
300 million tokens. Amidst the plethora of news and anticipations, the token made a modest bounce back, supported by the announcement of partnerships and its listing on another exchange. However, many investors are still wary given the lack of concrete information behind the flash crash. Additionally, news about the CEO starting the burn process alongside a continued buyback has kept hopes alive somewhat.
MANTRA Token News Analytics from Mon, 13 Jan 2025 08:00:00 GMT to Wed, 20 Aug 2025 16:54:24 GMT -
Rating -9
- Innovation 4
- Information 6
- Rumor 2
