{"id":21912,"date":"2025-04-14T04:47:32","date_gmt":"2025-04-14T04:47:32","guid":{"rendered":"https:\/\/dogewisperer.com\/?p=21912"},"modified":"2025-04-14T04:47:32","modified_gmt":"2025-04-14T04:47:32","slug":"mantra-om-price-crashes-90-in-an-hour-ceo-provides-explanation","status":"publish","type":"post","link":"https:\/\/dogewisperer.com\/?p=21912","title":{"rendered":"Mantra (OM) Price Crashes 90% in an Hour: CEO Provides Explanation"},"content":{"rendered":"
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It\u2019s not often that we see multi-billion dollars worth of market capitalization being erased in a matter of hours.<\/p>\n

This was the case with Mantra (OM). The protocol, which was largely considered as one of the best RWA crypto projects in 2025<\/a> went through a massive crash, which erased 90% of its market value in less than an hour.<\/p>\n

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Source: CoinGecko<\/figcaption><\/figure>\n

The OM price went from above $6 to below $1 in a moment, while liquidations surpassed $70 million, according<\/a> to data from Coinglass.<\/p>\n

Speaking on the matter was JP Mullin, co-founder and CEO of the protocol, who explained:<\/p>\n

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We have determined that the OM market movements were triggered by reckless forced closures initiated by centralized exchanges on OM account holders. The timing and depth of the crash suggest that a very sudden closure of account positions was initiated without sufficient warning or notice.<\/p>\n<\/blockquote>\n

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Sherpas, OMies, and broader crypto community,<\/p>\n

First off, the team and I greatly appreciate the support that we have received over the past several hours, which we believe is a testament to the strong support MANTRA has among its investors and community.<\/p>\n

We have determined that\u2026<\/p>\n

\u2014 JP Mullin (, \ufe0f) (@jp_mullin888) April 13, 2025<\/a><\/p>\n<\/blockquote>\n