MANTRA

Blockchain analysts can provide clues in investigating the Mantra’s OM crash, but definitive conclusions would require a full forensic study, according to a CertiK executive.

The blockchain’s founder will burn 150 million OM tokens, reducing the total supply to 1.67 billion, with another 150 million from “key ecosystem partners” to also be burned.

Mantra’s OM token crash exposed “critical” crypto liquidity concentration issues, which may have exacerbated the coin’s collapse on Sunday, April 13, according to Bitget CEO Gracey Chen.

Mantra OM’s sudden collapse is mapped out through a timeline of wallet moves, rumors and reactions.

Mantra’s OM token crash exposed crypto’s weekend liquidity risks and insider dumping concerns linked to major exchange activity, according to the CEO of Bitget.

Mantra released a post-crash statement on its OM token but offered little clarity while confirming buyback and burn plans to support the community.

Mantra CEO John Mullin says he will burn the 300 million locked-up OM tokens allocated to the network's team in a bid to win back the community trust after OM’s collapse.

OM traders bought about 35 million tokens during the April 13 dumping hours, but analysts warn of a bull trap in the making.