⇘ OM Coin: Between Scandal and Recovery
Mantra's OM Coin experienced a major price drop by 90%, leading to claims of fraud and scandal. The cause of the crash was primarily attributed...
The crypto market once again has been thrown into chaos as the Mantra OM token crashed by 90% recently. While the founder blamed exchanges for the price drop, allegations of fraud circulate alongside fears that this could lead to another crypto catastrophe. Despite the plunge, OM coin price spiked 60% in a surprising comeback, However, the token’s struggle for recovery continues. This incident again exposed dark corners of the crypto market including its intense liquidity problems.
A string of news summaries forced the OM coin under the microscope. From actions such as the burning of 150M OM tokens by Mantra's CEO to Mantra's double token burn involving a whopping 300 million OM tokens post-collapse, the market hopes for a possible recovery. However, the crash and subsequent price plunge led to a loss of trust for many investors.
Interestingly, meme coins were also subjected to the limelight after Trump's significant involvement sparked fervor among investors. Yet, the Mantra crisis emphasized crypto's significant risk aspect and investors must proceed with extreme caution. Though it's uncertain if OM Coin's deep dive is a warning sign of further collapses or a glitch in a generally rising crypto market, the future of Mantra remains on unstable ground.
OM Coin News Analytics from Thu, 19 Dec 2024 08:00:00 GMT to Tue, 17 Jun 2025 20:19:22 GMT - Rating -4 - Innovation -6 - Information 4 - Rumor -3