OM Token’s 90% Crash Leaves Holders Reeling —MANTRA Blames ‘Reckless Liquidations,’ CEO Says ‘Fixing This’
Posted On April 14, 2025
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 in the last 24 hours, according to Coinglass.
According to Lookonchain, about 17 wallets transferred $227 worth of OM tokens to exchanges, accounting for 4.5% of the circulating supply. Two of these addresses belong to Laser Digital, a “strategic” investor in MANTRA.
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