MANTRA CEO BURNS TEAM TOKENS TO RESTORE TRUST!
Mantra CEO John Patrick Mullin plans to burn 300 million OM tokens allocated to the team's incentives, worth around $236 million, to restore trust after the token's value plummeted from $6.30 to $0.52 on April 13. This move aims to demonstrate the team's commitment to the project's success and align their interests with those of the community and investors.
Key Details:
Token Burn: Mullin intends to burn all team tokens, which comprise 16.88% of the total OM token supply.
Community Reaction: The proposal has received mixed reactions, with some welcoming the gesture as a sign of good faith, while others, like Crypto Banter founder Ran Neuner, express concerns that burning tokens could undermine team motivation.
Decentralized Vote: Mullin suggested a community vote to determine the fate of the team tokens, promoting decentralized governance.
Transparency: Mullin promised a post-mortem statement explaining what went wrong and outlined plans to leverage the $109 million Mantra Ecosystem Fund for token buybacks and burns to stabilize OM's price .
Potential Impact:
Restoring trust and confidence in the Mantra platform
Demonstrating the team's commitment to the project's success
Potentially stabilizing OM's price through token buybacks and burns
Setting a precedent for decentralized governance and community involvement$OM #om
$TUT Keeps Momentum, Hits Targets, Testing Resistance! 🚀
On the 4h timeframe, $TUT currently at $0.02505, up by a strong +17.88%. The 24h high is $0.02547, with a significant volume of 308.53M TUT and 7.36M USDT.
Key Observation:
⬆️ As predicted, #TUT has maintained its upward momentum, hitting the previous target range and is now testing resistance levels.
Current Resistance Test:
🛑 $0.02547 (24h high - immediate resistance)
🛑 $0.02627 (next resistance level based on the chart)
$TUT Potential Bullish Targets (if resistance is broken):
⬆️ $0.02627
⬆️ $0.02800
⬆️ $0.03000 (further potential resistance levels)
Important Support Levels:
🛡️ $0.02450 - $0.02500 (potential near-term support)
🛡️ $0.02300 (stronger support zone)
{future}(TUTUSDT)
💥💫✨️ Cardano Holders’ Selling Reverses Momentum, Price Falls Back to $0.6
Cardano's price dropped to $0.60 as long-term holders (LTHs) sold off their holdings, triggering a shift in sentiment and reversing recent momentum. The Age Consumed metric spiked, signaling increased selling activity and contributing to Cardano's bearish outlook. The RSI remains below 50. If Cardano fails to reclaim $0.63 as support, it risks testing $0.57. A recovery could occur if $0.63 is regained, potentially pushing the price towards $0.70.
💡 Quick Take: However, if Cardano manages to reverse its current momentum and reclaim $0.63 as support, it could invalidate the bearish outlook. This recovery would open the door for a potential rise toward $0.70 as the market sentiment improves, and LTHs may become more confident in holding the asset once again.
$ADA
{future}(ADAUSDT)
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$BTC $ETH $SOL Updates
1. BTC Update:
Right now BTC is in a local distribution phase short term correction is either underway or just about to happen. We’re seeing signs of lower highs forming on LTF (Lower Time Frame), and volume divergence confirms that bulls are slowing down.
But remember: HTF (Higher Time Frame) is still bullish. This is just a healthy correction before the next leg up. No panic.
2. ETH Situation:
ETH is lagging BTC in momentum. But here’s the interesting part
we’re seeing ETH wallets slowly converting to SOL and other L1s, especially due to faster transactions, lower fees, and rising TVL on Solana.
This doesn’t mean ETH is dead it just means rotation is happening. So short term ETH may underperform, but long term structure is still intact as long as key support holds.
3. SOL Factor:
SOL is strong. The ecosystem is booming. Memecoin hype, strong DeFi participation, NFT revival it’s all adding fuel.
But: This doesn’t break the structure of our bigger plan.
It just means:
Diversification is key.
ETH ki dominance kabhi aik seendhi mein nahi girti rotation hoti hai aur phir ETH apna move karta hai jab log usse ignore karna suru kar dety hai kay Dead Project hai,
Its Just a Matter of Time 🤙
BNB Chain Successfully Completed Its 31st Quarterly BNB Token Burn! Here is the Amount of BNB Burned!
The BNB Chain has successfully completed its 31st quarterly token burn, removing 1,579,207,716 BNB tokens valued at approximately $916 million. This burn is part of the automatic token burn mechanism introduced in late 2021, aiming to reduce the total supply of BNB tokens to 100 million.
Key Details:
Tokens Burned: 1,579,207.72 BNB tokens were burned, worth around $916 million.
- *Remaining Tokens to Burn*: 40,886,572.43 BNB tokens are left to be burned.
Current Total Supply: The total supply of BNB tokens is now 139,311,899.514.
Burn Mechanism: The amount of BNB burned each quarter is calculated based on the BNB market price and the number of blocks produced on the BNB Smart Chain (BSC).
Transaction ID: The transaction ID for the BNB burn is 0x9fbe14355cfa89ec524af1b4b8f3b9d3035f2fdabd6cd0db8a2f4c1b6b236bfc.
The burn is a key element of BNB's long-term strategy to support token value and economic sustainability, reinforcing the project's commitment to reducing supply and incentivizing long-term holders .#bnb $BNB
BITCOIN AND ALTCOINS FACE VOLATILITY AS MARKET ADJUSTS!
Bitcoin and altcoins are experiencing volatility due to market uncertainty and various factors. Here's what's happening:
Why the Volatility?
Regulatory Uncertainty: Changes in regulations and government policies can impact investor sentiment, leading to price fluctuations.
Market Sentiment: Investor attitudes and emotions play a significant role in shaping market trends, with positive news boosting prices and negative developments causing declines.
Technological Innovations: Altcoins' cutting-edge features and technologies can drive growth but also introduce volatility as investors react to new developments.
Current Market Situation
Bitcoin's Price Movement: Bitcoin's value has seen significant fluctuations, with recent prices ranging between $42,500 and $46,000, and currently hovering around $76,119 to $84,446.
Altcoin Performance: Altcoins like AVAX, ADA, SOL, and LINK have experienced notable declines, with losses ranging from 5% to 8%. However, some altcoins like Binance Coin, Cardano, and Polkadot have shown resilience, with price increases of up to 6%.
Key Factors to Watch
Market Liquidity: Lower market liquidity in altcoins can amplify price movements, making them more susceptible to rapid changes.
Investor Sentiment: Shifts in investor sentiment can significantly impact altcoin prices, with positive news driving growth and negative news causing declines.
Technological Advancements: Ongoing technological innovations in the cryptocurrency space can drive growth and adoption but also contribute to market volatility.#bitcoin #ALT #altcoins $BTC