Binance Explains Why OM Price Dropped Over 90%....

Recently, Binance officially addressed the most significant collapse in crypto for 2025, as OM unexpectedly "evaporated" over 90% of its value.

The collapse of Mantra (OM)—one of the most prominent real-world asset (RWA) tokenization protocols—has become a hot topic within the crypto community this past week. Amid a wave of accusations from the community blaming exchanges for the failure, Binance has officially addressed the situation via its X (formerly Twitter) account.

According to Binance, the downfall of Mantra (OM) was primarily caused by cross-exchange liquidations. As a risk control measure, Binance proactively reduced leverage on OM tokens. Notably, the exchange stated that it had warned users as early as January about changes in the project’s tokenomics via announcements on the spot trading page.

The market crash occurred when OM’s token price plummeted by over 90% in just one hour, dropping from $6.31 to $0.70. Within 24 hours, total liquidations amounted to $74.52 million, even surpassing Ethereum in liquidation volume. Binance has stated that it is closely monitoring the situation and is committed to taking necessary actions to protect its user community.