Mantra News

Mantra has cited broader industry factors as contributing to the recent collapse of its OM token, with CEO John Mullin calling on exchanges to reassess their leverage policies.

Crypto firms are entering Wall Street with stocks and equities offerings, showing the “growing synergy” of the traditional investment and digital assets sectors.

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.

Mantra’s comparison to the Terra Luna collapse is inaccurate despite price chart similarities because the token crashes are fundamentally different, crypto community members said.

Mantra CEO John Mullin has denied insider dumping and outlined plans for OM token recovery and ecosystem support after the token’s collapse, which could include buybacks.

Mantra CEO John Mullin denied reports suggesting there were insider sales by investors like Laser Digital before the 90% crash of its OM token.

The OM price bounce appears eerily similar to what Terra's LUNA witnessed after its 99% crash in May 2022.

Blockchain analytics platform Lookonchain says at least 17 wallets deposited 43.6 million OM into crypto exchanges starting April 7, representing 4.5% of the circulating supply.