MANTRA has initiated an OM token migration, and their CEO has urged holders to withdraw from OKX due to concerns over their 'inaccurate' migration plan. However, the token's troubles are far from over as it recently crashed by 90%, which equated to a market cap reduction of $683 million. The catastrophic plunge resulted from what the team alleges were 'reckless liquidations', causing market liquidity concerns. Despite this, the CEO denies any insider trading and has outlined a recovery plan. In an attempt to regain investor trust, MANTRA's founder is set to burn $80M of their tokens. There is considerable skepticism, however, about whether a 'comprehensive burn program' will help the token recover. Adding to their woes, allegations of fraud have arisen, causing further mistrust amongst investors. In face of this adversity, MANTRA plans to rebrand their native OM token to MANTRA and undertake a 1:4 token split. The company has remained active, announcing back-to-back measures, including a $25M token buyback, and the CEO initiating a burn of 150M OM allocation. The CEO remains hopeful and stresses that 'reckless' exchanges were the cause of the OM token collapse. The crash has sparked increased activity in derivatives trading and raised fears of a 'rug pull'. Amidst this chaos, Mantra has shared details for a 300M token burn and the CEO committed personal holdings.
MANTRA Token News Analytics from Thu, 09 Jan 2025 08:00:00 GMT to Wed, 10 Dec 2025 06:11:04 GMT -
Rating -8
- Innovation 4
- Information -2
- Rumor 6