MANTRA (OM) Token Price Plunges 90%: What Happened?
Within less than an hour on April 13, 2025, the price of MANTRA (OM) token plummeted sharply by 90%, wiping out more than US$5.5 billion from its market capitalization.
This sudden drop sparked concerns among investors and the crypto community, with many comparing the event to the collapse of Terra LUNA.
Causes Behind the OM Price Crash
Citing information from Beincrypto media, several factors are suspected to have triggered this drastic decline:
1. Large Deposit to Exchange
On-chain data shows a deposit of 3.9 million OM tokens into the OKX exchange.
This move sparked speculation that the MANTRA team might be preparing for a massive sell-off, especially since they are reported to control nearly 90% of the total token supply.
2. OTC Sale Rumors
Other reports indicate that MANTRA may have been involved in undisclosed over-the-counter (OTC) deals, selling tokens at steep discounts of up to 50% below market value.
Response from the MANTRA Team
In response to the circulating allegations, the MANTRA team denied conducting a “rug pull” or any fraudulent activity.
They claimed that the price drop was caused by “a reckless forced liquidation initiated by a centralized exchange.”
Community Reaction and Its Impact
The OM community has long voiced concerns about the transparency of the MANTRA team.
Allegations of price manipulation via market makers, changes to tokenomics, and delays in community airdrops have all drawn criticism.
This latest price crash has further eroded investor confidence in the project.
Conclusion
The drastic drop in the price of MANTRA (OM) underscores the importance of transparency and trust in crypto projects.
Investors are advised to always conduct thorough research and exercise caution when making investment decisions—especially in projects showing signs of opacity or controversy.
