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 to the liquidation by exchanges. Post-crash,
OM Coin did see a price surge by up to 200%, but with
trust issues and another potential 'big scandal' afoot, the recovery appears uncertain.
Following the disastrous crash,
Mantra announced a 'Comprehensive Burn Program' where the CEO plans to burn $80M worth of his own tokens, aiming to regain community trust.
Apart from this, the larger
crypto market undergoes fluctuations with Bitcoin retaking $106K amid an agreement in the Middle East.
Coinbase and Circle stocks surge on new legislation, indicating a 'stablecoin summer'.
The
Mantra saga, where the crypto crashed and then bounced, seems to be influencing the 'crypto market-making' with Movement Labs also involved in the scandal.
Looking forward to
2025, the OM coin collapse sparks fear of another
LUNA moment. However, despite the crash, some analysts still see a potential for OM coin to bounce back, due to undervaluation after a 30% price correction and return to value.
OM Coin News Analytics from Thu, 19 Dec 2024 08:00:00 GMT to Tue, 24 Jun 2025 07:59:41 GMT -
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- Innovation -7
- Information 2
- Rumor -3
