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MANTRA’s OM token crashes 90% in 24 hours amid allegations of team dumping
The OM token from Mantra has plummeted by a staggering 90% over the past 24 hours, according to CoinGecko data. The catastrophic drop wiped out nearly $10 billion in market capitalization, leaving investors reeling.
OM’s price tumbled from its peak of $6.30 on April 12th to just $0.3, erasing all gains since January 2024 when it hit a low of $0.0158. The sudden crash has sparked an avalanche of speculation and conspiracy theories, with many pointing fingers at the project team for allegedly unloading their tokens.
Although no official statement has been released from Mantra or its co-founder John Patrick Mullin addressing these allegations, whispers of market manipulation are spreading like wildfire. The reason behind this drastic price drop remains unclear, but whispers suggest a mass sell-off by key holders may be to blame.
Mantra is a prominent player in the real-world asset tokenization space and has garnered attention through high-profile partnerships with Google Cloud and Dubai’s DAMAC Group.
Source: https://cryptobriefing.com/om-token-crash-allegations/
