On April 13, 2025, the MANTRA (OM) cryptocurrency collapsed by more than 90% in just a few hours, dropping from about $6 to less than $0.50. While rumors of a rug pull or manipulation by the team continue to emerge, all efforts are being made to regain the trust of the general public.
The price of the Mantra token The price of Mantra, the native cryptocurrency of the real-world tokenized asset blockchain Mantra, has collapsed by more than 90% in the last 24 hours.
However, the exact reason for the collapse of the OM token price is unclear.
Some investors mention a rug pull, but the team has responded to these accusations with a tweet from the co-founder that I quote:
The co-founder of Mantra, JP Mullin, reacted to the collapse of the OM token and stated that the Telegram group of the project is still online. Mullin added that the tokens of the Mantra team are still under the custody of the team.
"We are here and going nowhere," wrote Mullin in an X post, while providing a verification address for the Mantra team’s OM tokens.
There were also reports suggesting that Laser Digital had sold a significant portion of its tokens before the crash, and several hypotheses have been put forward by the co-founder.
"We have determined that the movements in the OM market were triggered by reckless forced liquidations initiated by centralized exchanges on the accounts of OM holders. The timing and depth of the crash suggest that a very sudden closure of account positions was initiated without sufficient warning or notice," wrote MANTRA founder JP Mullin.
This matter remains unresolved; will we ever know the true reasons for this collapse??? Can you still invest in the project in the future???
And what does the team think about restoring confidence in this project? There is a tweet where the co-founder proposes to burn the team's tokens, totaling 300 million OM. Will the team agree? We remain attentive to upgrades.
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