The horrendous 90% price crash of Mantra (OM) has left crypto investors appalled and drawing similarities to the Terra Luna fiasco back in May, 2022. However, Mantraโs (OM) token crashed 90% in approximately an hour, leaving the CEO to blame the massive forced liquidations on centralized exchanges (CEXs) for the accident.
Top RWA Coin Takes 90% Hit, CEO To The Rescue
Often named as one of the top projects in the Real World Assets (RWA) field in crypto this year, Mantra (OM) protocol now seeks to restore some of the damage after the drastic 90% downturn. Mantraโs CEO John Patrick Mullin has pledged to burn his share of Mantra (OM) tokens, while burning the developer teamโs allocation is still in question.
JP Mullin mulls this as a way to earn back investor trust, while his allocation includes 772,000 Mantra (OM) tokens, currently priced at $604 million. Prior to the crash, these OM coins would have been worth a whopping $6.94 million just two months ago. Amid the burn announcement by the CEO, the RWA altcoin picked up 35% gains in restoration efforts, but got rejected at $0.90.
How Will Burning Mantra (OM) Assist In Recovery?
The offer received mixed reactions from the crypto crowd, with some seasoned crypto analysts calling the move โa mistakeโ. Among those was Ran Neuner, a CNBC trader and founder of Crypto Banter, arguing that โthe burning incentive may seem like a good gesture, but it will hurt the team’s motivation long-termโ.
To this, Mantraโs CEO John Patrick Mullin responded with a detailed explanation of how the burning could help restore faith in Mantra (OM), assuring the developer team will keep building new products in the RWA field regardless of the native coinโs price fluctuations.
Now, the popular RWA altcoin Mantra (OM) is targeting the $1.26 middle Bollinger Band (BOLL) for breakout confirmation. A push towards the red-label Bollinger Band at $4.56 would require substantial bull power, in other words large investors coming back to buy the obnoxious dip.
However, the Bull Bear Power (BOP) has been in massive red territory since the Mantra (OM) price crash on April 13, 2025, slowly recovering since one of the most drastic one-hour downfalls in cryptoโs history. With 989M tokens in circulation, burning efforts could have a major impact on an altcoin with relatively scarce tokenomics.
For any rebound efforts to succeed, crypto investors would have to be convinced about the bottom, but numerous sell-offs emerge daily to OM price back to a $0.60 demand zone retest. On the other hand, Mantraโs all-time lows are at just below two cents, still 4,449% less than the post-crash Mantra (OM) price.
On The Flipside
- If approved for burning, the team’s 300 million Mantra (OM) coins are on lock at least until April, 2027.
- Mantraโs CEO stated itโs rather a โcommunity-controlled dispersal mechanismโ than a regular burn.
Why This Matters
Hyper-focused on Real World Assets (RWA), Mantraโs Layer-1 made a name for themselves for institutional-grade on-chain infrastructure. This implies that the utility-based altcoin will continue to be used despite the brutal downswing in the native coinโs price.
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