Key Takeaways
- The OM token from MANTRA crashed by 90% on Sunday.
- The crash allegedly worn out over $10 billion in market capitalization, with claims that the crew held 90% of provide.
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OM, the native token of the MANTRA ecosystem, nosedived as a lot as 90% in simply 4 hours, erasing billions in market worth, in accordance with knowledge tracked on Binance.
OM’s worth crashed from above $6 to $0.37 on April 13, wiping out almost all of its positive factors since its meteoric rise from $0.0158 in January 2024. The token reached a peak at $9 earlier this yr.
On the time of reporting, OM traded at above $0.6, down roughly 93% from its all-time excessive.
Though the explanation for the steep drop just isn’t but confirmed, hypothesis factors to the venture crew probably unloading their tokens. No official assertion has been launched from MANTRA or its co-founder John Patrick Mullin addressing these allegations.
MANTRA is a key participant within the real-world asset (RWA) tokenization house. The venture has gained consideration by partnerships with Google Cloud and Dubai’s DAMAC Group.
It is a creating story.
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