๐ฅ OM MANTRA DAO โ Can the "Phoenix" rise again after a 92% crash? ๐ฅ
On April 13, 2025, OM โ the token of the MANTRA DAO project (now MANTRA) shocked the crypto community by losing up to 92% of its value in just a few hours, dropping from $6.3 to $0.37, wiping out more than $5.5 billion in market capitalization. The cause? Liquidation of cross-margin on Binance and OKX, a movement of 43.6 million OM to exchanges, and allegations of market manipulation.
Although the team denies it, the community remains skeptical as one wallet holds 77% of the supply, along with the legal lawsuit in Hong Kong between MANTRA and RioDeFi raising concerns about financial transparency.
๐ So does OM still have a future?
MANTRA is making strong moves to "turn the tide":
๐น Announcing a $108 million fund to develop RWA over 4 years
๐น Buying back & burning 10 million OM in April
๐น Launching MANTRA Stablecoin (MST)
๐น Collaborating with Band Protocol, Google Cloud, integrating Polkadot & BSC
๐น Organizing public AMA โ on-chain transparency
As of April 17, the price of OM is $0.8562, slightly up after the crash but still -85% for the week. Some optimistic predictions suggest that OM could recover if MANTRA maintains trust & grows RWA.
๐ค SHOULD YOU INVEST IN OM?
โ
Strong technology (Cosmos SDK, IBC)
โ
Attractive 19.9% APY staking
โ But the risks remain high: concentrated supply, unclear legal status
๐Note: This is not investment advice. Please DYOR carefully, invest only what you can afford to lose, and monitor the investigation results from Binance, OKX & the Hong Kong Court.
๐ Do you think OM is a "resurrection bet" or a "bottom-fishing trap"?
๐ข Comment & follow @MANTRA_Chain for hot updates!
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