1. Current price and market indicators
- The price of OM on April 27, 2025, is $0.52850, with a daily range of $0.49867–$0.53960. Over the last 24 hours, the token has lost 9.4% of its value, continuing a downward trend after a 90% collapse on April 13.
- Market capitalization — $960.8 million, and daily trading volume — $114 million.
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2. Reasons for the collapse and team response
- Cascading liquidations: The main cause of the crash on April 13 was massive liquidations of positions on centralized exchanges, triggered by a sharp increase in sales volume. The MANTRA team denies involvement in insider sales, citing external factors.
- Suspicious transfers: Before the collapse, 43.6 million OM (approximately $227 million) were transferred to exchanges from addresses presumably linked to investors Laser Digital and Shorooq Partners. However, both companies denied their involvement in the sell-off.
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3. Measures to restore trust
- Token burning: MANTRA founder John Patrick Mallin burned 150 million OM (99.5% of his personal assets) worth $79.5 million to reduce supply and demonstrate commitment to the project.
- Denial of token recovery: Mallin stated that the burned tokens will not be restored, despite the precedent set by Crypto.com, which returned 70 billion CRO. He emphasized the necessity of adhering to decentralization principles.
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4. Community reaction and criticism
- Accusations of rug pull: Some investors believe the collapse is the result of fraudulent actions, comparing the situation to a classic 'rug pull'. Trust in the project remains low due to the high concentration of tokens held by the team (90% in circulation) and the lack of transparency in management.
- Exchange position: OKX and Binance called the incident 'a scandal for the industry,' linking it to cross-exchange liquidations and suspicious activity.
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5. Technological prospects and risks
- Focus on RWA: MANTRA continues to develop a blockchain for the tokenization of real assets (RWA), collaborating with companies in Dubai. The project is integrated with Cosmos SDK and supports up to 10,000 transactions per second.
- Risks:
- Regulatory challenges: Despite the conclusion of legal disputes with the SEC, global regulatory risks persist.
- Volatility: High dependence on the actions of large holders and low liquidity increase the token's vulnerability.
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Conclusion: As of April 27, 2025, MANTRA remains in crisis after the historic collapse of OM. The team is trying to restore trust through token burning and transparency, but community skepticism and market risks persist. Key factors for recovery will be the actions of regulators, successes in the development of the RWA ecosystem, and the behavior of large investors. $OM #BinanceAlphaAlert