We sincerely hope that if you were a Mantra holder this morning, you are not anymore. Purely because the OM price dipped 90%, from over $6.10 to below $0.60. In the last hour or so, price did manage to bounce back towards $1.00. We don’t have anything against Mantra project here, it’s just about saving your investment properly.
But, what happened? Let’s dig in
One crypto analyst compared this to the Terra Luna collapse. According to them, the Mantra team dumped their entire token allocation. This represented about 90% of all circulating tokens. They also deleted Mantra’s official Telegram group. Just like that, about $3.5 billion in market value disappeared in hours.
It’s important to note though that it’s still not confirmed whether the team was involved in this crash or no. There are various reports floating around on X.
Welcome to Terra Luna V.2.
— Choze👽 (@AlwaysBeenChoze) April 13, 2025
For those wondering, the $OM team dumped their entire allocation. That’s 90% of the total circulating supply, gone.
They also deleted Mantra’s official Telegram group.
Just like that, $3.5 billion in market cap vanished.
And yep, @jp_mullin888 is the… pic.twitter.com/qjig5waQC1
The Mantra team claims the project remains strong. They say today’s crash came from “reckless liquidations” and had nothing to do with the project itself. They insist their team wasn’t responsible for the dump. They promise to investigate and share more details soon about what really happened.
MANTRA community – we want to assure you that MANTRA is fundamentally strong. Today’s activity was triggered by reckless liquidations, not anything to do with the project. One thing we want to be clear on: this was not our team. We are looking into it and will share more details…
— MANTRA | Tokenizing RWAs (@MANTRA_Chain) April 13, 2025
What This Means for Investors
These opposing stories raise concerns, of course. A 90% price drop in one day shows something major went wrong. While the team blames external liquidations, many market watchers don’t believe this explanation.
This crash reminds us how risky crypto investments can be, especially with newer tokens. Projects can fall apart quickly, and regular investors usually suffer the most.
Mantra holders now face uncertainty. They must wait to learn what actually caused this massive price drop and wonder if their investment can recover. The next few days will show whether this was just a temporary crisis or the end of the project.
Read also: $50M in XRP to the Feds? How Many Ripple Tokens You Need to Join the 1% Club
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