MANTRA, a significant player in the cryptocurrency market, has been in the spotlight due to the dramatic drop in the value of its OM token. The
OM token saw a 90% reduction in its value, causing a significant upheaval in its market cap. This situation has sparked concerns about the
liquidity of the cryptocurrency market. Conspiracy theories of insider dumping have also emerged due to such a catastrophic loss. However,
Mantra's CEO vehemently denies such speculation, pointing towards reckless exchange liquidations as the reason behind the downfall.
Aside from this, Mantra is trying to restore confidence with strategic measures among which are the initiation of a
$25M OM token buyback program, and plans of burning 300 Million team tokens. Nonetheless, the OM token shows resilience and has broken $1B volume despite struggling to clear the $1 price barrier. Furthermore, a rumored shift of the OM token to Mantra Chain by 2026 has been proposed.
Additionally, the platform prepares to introduce its first compliant
RWA token and is embarking towards multiple virtual machine (MultiVM) capacities. A recent collaboration with DAMAC to
tokenise $1 billion in the Middle East has also been on the cards. Despite such innovative strategies, OM token recovery is still in early stages with the CEO labeling the incident as a result of systemic risk in the cryptocurrency market.
The
value of OM shows slight recovery with the CEO promising a post-mortem on the scenario. Mantra's recent steps suggest its intention to regain trust and stabilize the prices for the betterment of all stakeholders.
MANTRA Token News Analytics from Mon, 13 Jan 2025 08:00:00 GMT to Wed, 24 Sep 2025 11:28:34 GMT -
Rating -7
- Innovation 3
- Information 5
- Rumor -5
