OM Token's 90% Crash Leaves Holders Reeling —MANTRA Blames 'Reckless Liquidations,' CEO Says 'Fixing This'

OM coin price plunges 90%, sparking fraud allegations: Is the Mantra crash the next crypto catastrophe?

Over the weekend, crypto traders were likely anything but zen, as the price of OM—the native token to the Mantra blockchain—crashed more than 90%. On Sunday, OM prices fell from around $6.30 to less than $0.50 within a couple of hours, shaking up the crypto markets and likely leaving many people with crypto holdings wondering if they were witnessing another catastrophe like the FTX collapse. But, so far, that doesn’t appear to be the case. Here’…

Mantra crypto crash: OM token plunges 90%, crashes from $6 to $0.37 in hours

The OM token issued by crypto project MANTRA collapsed over 90%, triggering turmoil among investors and sparking unverified allegations of insider selling. The token fell from $6.3 to as low as $0.37 within hours, wiping out an estimated $5 billion in market capitalisation. OM had peaked at $9 earlier this year, and as of Monday, had recovered slightly to above $1. MANTRA, which specialises in real-world asset (RWA) tokenisation, denied any invo…

Mantra’s OM Crashes 90% in Bizarre Selloff as Team Alleges 'Forced Liquidations'

Co-founder John Patrick Mullin alleged the movement was likely due to exchanges closing OM positions, which impacted all market exposure.

OM Token's 90% Crash Leaves Holders Reeling —MANTRA Blames 'Reckless Liquidations,' CEO Says 'Fixing This'

The native cryptocurrency of a real-world asset-focused project dramatically crashed by nearly 90% on Sunday, wiping out billions of dollars worth of investors' fortunes. What happened: The OM token of Layer-1 blockchain MANTRA nosedived from $5.26 to $0.42 in 90 minutes in the afternoon. The sudden plunge erased a whopping $4.6 billion from the coin's market capitalization. Moreover, the crash triggered liquidations of over $68 million for OM i…

MantraDAO Blames Centralized Exchanges for OM Token Crash, CEXs Respond with Risk Control Clarifications

Tensions are escalating between the core project teams and several major centralized exchanges after a devastating 80% crash in the price of OM, the native token of the MantraDAO ecosystem, sank to an all-time low late last week.

Cardano Creator Condemns Investing In Newer Crypto Projects Over ADA As Mantra’s OM Falls 90% In Sudden Crash

Cardano creator Charles Hoskinson has weighed in on the recent dramatic collapse of trendy real-world asset upstart Mantra’s OM token, underscoring ADA’s stability over the years amid serious concerns of a major hack or rug pull in the Mantra ecosystem. Most Significant Project Collapse Since The LUNA Crisis The token of real-world asset (RWA) focused Layer 1 blockchain Mantra (OM) reminded traders of Terra’s LUNA on Sunday when it abruptly coll…