90% Plunge in Mantra (OM) Value Within an Hour: Explanation Given by the CEO

Mantra (OM), one of the highest-rated real-world asset (RWA) crypto projects of 2025, recently experienced a sharp plunge, losing 90% of its market value in under an hour. This drastic drop resulted in billions of dollars of market capitalization disappearing.

The price of OM plummeted from over $6 to under $1, with over $70 million in liquidations according to Coinglass data. JP Mullin, the co-founder and CEO of Mantra, attributed this to reckless forced closures carried out by centralized exchanges on OM account holders, without adequate warning or notice.

Despite the setback, Mullin expressed his appreciation for the continued support from investors and the wider crypto community.