$OM
The OM token, native to the MANTRA blockchain, experienced a dramatic crash on April 13, 2025, with its price plummeting from nearly $6 to approximately $0.57 within an hour, erasing over $6 billion in market capitalization.
This sudden decline followed a significant token burn on April 2, where 84 million OM tokens (valued at $524 million) were destroyed. The crash led to accusations of a coordinated dump by insiders, with the official Telegram group being closed to new members and the CEO remaining unresponsive.
Despite this setback, OM had previously shown resilience amid broader market downturns, with a 30-day performance increase of 66.5%. However, the recent events have raised concerns about the project's stability and governance.