Mantra TVL Jumps 500% As Investors Rush To Buy & Stake OM Tokens
After the catastrophic 93% price crash in MANTRA (OM) token price, the total value locked (TVL) on Mantra’s RWA-focused blockchain protocol has surged by over 500% within just two days.
As per DeFillama data, Mantra’s TVL rose over 500% and reached 4.21 million OM (approximately $3.24 million) in a sudden spike as investors rushed to buy OM token at discount price and stake it on the protocol for juicy rewards.
The spike in TVL came amid chaos in the market as OM’s price plummeted to weekend lows due to what the Mantra team described as “reckless forced liquidations” executed by centralized exchanges.
Following the downturn, market analysts have noted sharp buying activity across the markets as OM price seems to be trading at a huge discount after the crash. The timing of the spike in Mantra TVL suggests that investors viewed OM price collapse as a rare opportunity to enter the ecosystem at a discount.
A prominent crypto analyst aliased Dom highlighted in one of his recent posts that over $35 million of OM tokens were purchased in aggressive buying while its price was bottoming with 90% downside. This points to a tactical accumulation likely orchestrated by whales or opportunistic traders.