14.04.2025 09:50
The local token OM of the Mantra blockchain, which tokenizes real-world assets, has fallen below $0.50 with a decline exceeding 90% in the last 24 hours, causing its market value to evaporate by billions of dollars.
The cryptocurrency market was shaken by the sharp decline of the Mantra (OM) token. The native cryptocurrency of the Mantra blockchain, which focuses on the tokenization of real-world assets, lost a significant portion of its value in a short time, causing concern among investors. This sudden drop is considered by some market observers to be one of the most significant project collapses seen since the LUNA crisis.
The Crypto World in Shock: Mantra (OM) Has Lost a Significant Amount of Its Value
The Mantra (OM) token, which was trading at around $6.3 just a short time ago, fell below $0.50 in a sudden drop. This meant that more than 90% of the token's approximately $6 billion market value was wiped out in just one day.
This sharp movement in the price chart raised concerns among some investors that the incident could be a deliberate "rug pull," a method of stealing funds by suddenly abandoning the project. A user known as Gordon, who is a market investor, stated in a social media post, "The team needs to clarify this issue; otherwise, it looks like OM could head towards zero. This could be the biggest rug pull case since LUNA/FTX."