Mantra's OM token recently saw a significant decline in its value, with prices plummeting by
90% within a 24-hour period. This has led to allegations of fraud and has cast doubts on the future of OM coin.
Insider dumping and
liquidity issues are deemed as potential causes for this sharp drop. There have also been accusations targeting certain
crypto exchanges for risky policies linked to the crash. In response, the
Mantra CEO has initiated plans to burn the team's tokens to regain community trust. Nevertheless, key questions remain unanswered as the OM token still struggles to recover, and the community and traders are anxiously monitoring the situation. More so, this situation has further triggered concerns about the overall markets and liquidity issues, which seem more prone in the wake of
volatile meme coins and unstable
stablecoins. To regain investor confidence, Mantra has decided on a
token burn strategy, aimed at reducing the number of tokens in circulation to stabilize the price.
Coinbase, by contrast, is extending its losses with bearish trends, although analysts remain optimistic. In addition, due to regulation and transparency issues, stablecoins like the OM are expected to face stricter rules from the
Hong Kong Monetary Authority.
OM Coin News Analytics from Sat, 18 Jan 2025 08:00:00 GMT to Wed, 30 Jul 2025 12:16:33 GMT -
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