Mantra token crashed over 90% on April 13, falling from approximately US$6.30 to under US$0.50 within hours. As of 16:42 AM on 14 April 2025, OM is trading at US$0.7226, marking an 88.52% drop over the past 24 hours.
As of 4.48 PM on April 14, 2025, the Mantra OM’s technical analysis chart is as follows:
OM’s market cap dropped from US$6 billion to US$702.4 million, wiping out over US$5.5 billion in value. The 24-hour trading volume surged 3380.50% to US$2.48 billion, with a volume-to-market cap ratio of 349.31%, indicating panic-driven trades.
The following table shows key financial metrics for Mantra price today as of 4.48 PM:
| Parameters | Value |
|---|---|
| Current Price | US$0.7226 |
| 24h Low / High | US$0.4222 / US$6.28 |
| All-Time High | US$9.04 (Feb 23, 2025) |
| All-Time Low | US$0.01728 (Oct 12, 2023) |
| Market Cap | US$702.4M |
| FDV | US$1.31B |
| Circulating Supply | 969.33M OM |
| Total Supply | 1.81B OM |
| Holders | 122.89K |
Mantra CEO JP Mullin reacted to the crash in an X post, blaming the collapse on centralized exchange-forced liquidations. He further explained that the liquidations took place during low-liquidity Sunday evening UTC hours, amplifying the selling pressure:
Mullin further explained that the Mantra team did not sell any tokens, and all OM in the team's possession is still locked under the vesting schedule of the project. "We are here and not going anywhere," Mullin posted, calling on the community to stay loyal.
Despite Mullin's claims, analysts questioned a suspected wallet deposit. Max Brown, a cryptocurrency analyst, pointed out that 3.9 million OM tokens were sent to OKX by a wallet suspected to be associated with the Mantra team. Given that the team is said to control almost 90% of OM's supply, the action raised alarm over insider dumping.
The crash comes just months after Mantra announced major regulatory and business milestones. In January, it signed a US$1 billion deal with DAMAC to tokenize real estate assets. In February, Mantra received a virtual asset service provider license from Dubai’s VARA, granting it operational rights in the UAE.
However, the crash has reopened criticism about the transparency of the project. Earlier controversies about the founding team have resurfaced, with comparisons to high-profile failures like LUNA and FTX. It remains to be seen whether the OM token will rebound.