Mantra has recently undergone a major market upheaval with the value of its crypto token
OM crashing by
90% in a period of extreme instability. This drop in value, which drove the market cap down to
$683 million, has been linked to a variety of factors, mainly risky crypto exchange policies. There were massive liquidations which occurred in quick succession, prompting huge losses in value, subsequently leading to a decrease in market liquidity. Mantra denies any responsibility for the dramatic crash, instead blaming 'reckless liquidations'. To fight back from this substantial fall, Mantra has announced
$25,000,000 minimum funding for its first set of strategic OM Token buybacks and a
$25M OM Token Buyback Program to bolster the OM token's market performance. The crash has also prompted Mantra's CEO to announce intentions to burn the team's tokens in an effort to win back community trust. While pricing continues to struggle, there's a hint of recovery as Mantra has come up with plans of OM token buybacks, stablecoin, and tokenization plans, and reviews have it that the OM price has rebounded slightly. In the effort to win back trust, Mantra founders have decided to burn $80M of their own tokens.
MANTRA Token News Analytics from Mon, 13 Jan 2025 08:00:00 GMT to Wed, 01 Oct 2025 11:48:25 GMT -
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