The price of Mantra ($OM ) token has seen a dramatic upswing following an announcement by founder JP Mullin regarding a significant token burn. Mullin outlined plans to burn his personal team token allocation and implement a comprehensive burn program affecting other parts of the OM supply. This news triggered a substantial price recovery, with OM jumping from a low of $0.5115 to a high of $0.8706 after the statement on X. This surge comes in the wake of a significant 87.0% price decline over the past week. Notably, Mantra had previously allocated 300 million OM tokens (16.88% of the total supply) for its team, with a phased release scheduled between April 2027 and October 2029. CoinGape has also released a Mantra OM price prediction for April 2025.
In separate news concerning the cryptocurrency market, the US Court of Appeal has granted a joint request from Ripple and the Securities and Exchange Commission (SEC) to suspend the appeal process in their ongoing $XRP lawsuit. This suspension applies to both the SEC's appeal and Ripple's cross-appeal. The primary objective behind this joint motion is to allow both parties the necessary time to finalize a potential settlement agreement in the long-standing legal battle.
