$OM
OM Coin’s Token Burn: Real Comeback or Short-Term Hype?
Summary
OM Coin’s leadership has burned 150 million tokens—and is considering burning another 150 million—in an effort to reduce supply and "restore trust." But after a staggering 90% crash, many investors are questioning whether scarcity alone can revive a project plagued by shaky execution and dwindling confidence.
Background
On April 10, 2025, OM Coin nosedived over 90% within hours, wiping out approximately $5.4 billion in market value following a wave of forced liquidations across Web3 exchanges.
In response, CEO John Patrick Mullin began burning his personal allocation of 150 million tokens on April 21. The burn was completed by April 29, permanently removing those tokens from circulation.
The Mantra team is also in discussions to burn another 150 million OM tokens—roughly 16.5% of the total supply—in an effort to deepen the scarcity effect.
Investor Concerns
Despite the burn, OM’s price dipped another 3.3% on the day of the announcement, reflecting ongoing market skepticism.
On-chain IOMAP data reveals a dense sell wall around $0.48, suggesting that many holders are waiting to exit at breakeven—raising the risk of renewed price pressure.
Critics argue that token burns alone don’t equate to real utility. Without a transparent roadmap or substantive product updates, any short-term gains may prove unsustainable.
Analysts emphasize that long-term recovery depends on reigniting developer activity, delivering real-world use cases backed by the $109 million ecosystem grant, and offering more robust liquidity incentives—well beyond one-off burns.
Conclusion
Without increased transparency, stronger team accountability, and meaningful on-chain utility, many fear this burn may be more of a temporary bandage than a true path to recovery.