MANTRA's OM Token faced a massive depreciation, with a
90% drop in its value. This sudden crash raised allegations of
insider trading and market liquidity issues. The team, however, attributed the crash to
reckless liquidations by investors. Amid this crisis, MANTRA announced a
$25,000,000 minimum funding commitment for the first of strategic OM Token buybacks. Despite denial of responsibility for the crash by the
CEO, the market cap of the token shrunk to
$683 Million. The
Laser Digital, an investor in MANTRA, also denied role in the token crash. In a bid to regain trust, MANTRA proposed
burning 300 Million team tokens. The crash also sparked speculation if the token support would be discontinued on Binance. Responding to the crash, MANTRA proposed a full shift of OM Token to
Mantra Chain by 2026. MANTRA also intends to rebrand OM as MANTRA and implement a
1:4 token split. In a strategic move, a partnership with
DAMAC has been forged to tokenise $1bn in
real-world assets. MANTRA community is currently looking forward to a
community call on November 11th.
MANTRA Token News Analytics from Thu, 09 Jan 2025 08:00:00 GMT to Fri, 21 Nov 2025 00:07:18 GMT -
Rating -6
- Innovation 0
- Information 8
- Rumor -7
