CEO @MANTRA , John Mullin, spoke out in response to community concerns after the price of the OM token plummeted by 90% on Monday (April 14, 2025) morning, raising worries about the project.

Quoted from a Cointelegraph report, Mullin emphasized that Mantra together with its partners is currently formulating a recovery strategy for the token $OM . Although no final details regarding the buyback or token burn plan have been disclosed, he assured that recovering the value of OM is the team's top priority at this time.

"We are still in the early stages of drafting a buyback plan for this token," said Mullin. "Recovering OM is our main focus right now."

It is important to note that the price of OM suddenly dropped from around US$6.34 to a daily low of US$0.42 before rebounding to US$0.89. This decline caused the market capitalization of the token to fall by US$878.4 million in just one day. As of this article's writing (April 15, 2025), the current price of OM is trading around US$0.61 with a decrease of about 12% in the last 24 hours. The current market capitalization sits at US$595 million.