MANTRA, a significant player in the cryptocurrency market, recently announced a minimum funding commitment of $25,000,000 for its strategic buybacks of
OM Token. Following up on this high-stakes decision, they have unveiled plans to introduce an
EVM network in September. Debates and speculations have ensued following their decision to migrate OM Tokens, with many pondering whether this migration will unlock real value or merely shift the illusion. Amidst these developments, the token witnessed a harrowing 90% crash that left a considerable dent in their market share.
Mantra's CEO attributed this crash to the high-risk policies of crypto exchanges. In order to rectify this situation, the team is taking steps to move the OM Token to the
Mantra Chain by 2026.
Unsurprisingly, this proactive approach to rectify the situation has resulted in accusations of insider token dumping and sparked concerns of liquidity and market manipulation. Things escalated further when a whopping $227 Million was moved to exchanges, triggering alarm bells across the investor community. The CEO, in a bid to win back community trust, announced the burning of his tokens. As a significant move, MANTRA and DAMAC announced their collaboration to tokenize $1 billion in the Middle East. Part of Mantra’s recovery plan includes a proposal to migrate OM Token from ERC-20 to its native network. As a result, the token price saw an uplift, with 200% recovery, though analysts remain cautious about the token’s future.
MANTRA Token News Analytics from Mon, 13 Jan 2025 08:00:00 GMT to Wed, 27 Aug 2025 19:44:43 GMT -
Rating -6
- Innovation -2
- Information 6
- Rumor -8
