Krutika Adani
OM, MANTRA’s native token, crashed from over $6 to just $0.37—marking a dramatic 93% drop from its all-time high of $9. The crypto world is stunned.
Online speculation points fingers at the MANTRA team for potential dumping, citing concentrated token supply as the cause of the collapse.
MANTRA’s team has denied any wrongdoing, attributing the crash to large-scale forced liquidations. The project's Telegram is now locked to outsiders.
Co-founder John Mullin said the sell-off caught the team off-guard, hinting at one exchange triggering a chain of liquidations over the weekend.