OM Founder Announces 80 Million Token Burn Planned for 2025

MANTRA (OM) experienced significant volatility in the last 24 hours, with the price fluctuating between $0.42558 and $0.49342 before settling at $0.3747, representing a 5.36% decline against USDT. Trading activity was high, with 24-hour volume ranging from $114.10 million to $138.96 million and a market capitalization near $352.35 million.

The recent price movements were primarily driven by technical factors rather than fundamental news or project developments. Market sentiment was mixed but leaned bearish, as reflected in technical indicators such as a low Relative Strength Index (RSI) and the price trading below major moving averages. The oversold conditions attracted some interest in potential short-term rebounds, but overall, the momentum remained negative. No significant announcements or fundamental events were reported in the last 24 hours, and trading strategies were largely influenced by volatility and technical signals. Additionally, a notable development was the announcement by John Patrick Mullin, founder of MANTRA, regarding the planned burn of 80 million OM tokens in April 2025, though this did not directly impact the immediate price action.