Just Days After Collapsing More Than 90%, Mantra (OM) Shows Signs of Life – Rebounding 30%

It's hard to overstate how brutal Mantra's collapse was.

Just days after collapsing more than 90%, Mantra (OM) is showing signs of life – rebounding 30% in the past 24 hours.

But after a $5.5 billion wipeout and lots of controversy, the question isn’t just whether Mantra can recover – it’s whether you should trust it.

Here’s a closer look at what’s really going on and whether now is the right time to buy OM.

Mantra’s Meltdown – And The Sudden Bounce That Turned Heads

It’s hard to overstate how brutal Mantra’s collapse was.

In just over an hour on Sunday, OM crashed from $6.30 to under $0.40 – wiping out billions in market cap and triggering a wave of liquidations across major exchanges.

Some compared it to the Terra (LUNA) crash; others said it looked more like a rug pull.

Accusations were everywhere – insider selling, manipulation, and dodgy tokenomics were all discussed.

The Mantra team blamed centralized exchanges like OKX and Binance for reckless forced liquidations, while blockchain detectives pointed fingers at whale transactions just days before the sell-off.

Fast forward to today, and OM is back in the green, climbing to $0.77 – a 100% rise from Sunday’s bottom.

That bounce has led to some cautious optimism from investors.

And this optimism was boosted even more after CEO John Mullin proposed a token buyback and burn using Mantra’s $109 million ecosystem fund.

Buy the Dip or Wait It Out? The Case for Mantra

With Mantra rebounding, is now the right time to buy – or is it smarter to wait

That depends on how much faith you have in Mantra’s next moves.

If executed well, the proposed buyback and burn could be massive – shrinking supply, boosting price, and showing that the team is serious about making amends.

If that happens soon (and transparently), OM might climb back above the $1 mark before the end of April.

However, this is clearly still a high-risk situation.

Following recent market event, here’s what’s next for MANTRA:

1- A full post-mortem report drops within 24h transparency first. 2- $OM buyback & supply burn programs coming restoring trust and showing long-term commitment. 3- We’re not going anywhere. MANTRA keeps building.

— MANTRA Inside (@MANTRAinside) April 15, 2025

A single bad headline – whether it’s insider selling, a regulatory red flag, or a fumbled rollout – could send OM crashing again.

On the flip side, new RWA partnerships or visible progress with Dubai’s DAMAC group could boost investor demand.

The bottom line is that Mantra has upside potential but is not out of the woods yet.

If you’re a risk-averse investor, waiting for a bit more clarity might save you some unnecessary stress.

But if you’re risk-seeking, OM’s current price could be a tempting entry point.

Is Solaxy Primed to Outpace Mantra? SOLX Token Presale Raises $30M for New Solana L2

Even with OM bouncing back, some traders are looking elsewhere – mainly at projects that haven’t experienced a multi-billion dollar meltdown.

If you’re searching for something with momentum and fewer trust issues, one potential option is Solaxy (SOLX).

Solaxy has raised over $30 million in its ongoing presale phase.

It’s not just because of hype; the team is building a Layer-2 solution designed to boost Solana by handling transactions off-chain using rollups.

The aim is to ease congestion and lower fees without sacrificing speed or security.

That could be a big deal, especially after Solana’s issues earlier this year.

Solaxy’s presale has gone viral, with early investors able to buy the native SOLX token for just $0.001696.

Early investors can also stake their SOLX before the token even goes live on exchanges.

Currently, staking rewards are estimated at 134% per year – with more than 8.5 billion SOLX locked up so far.

Several high-profile crypto commentators are excited about Solaxy.

For example, YouTuber ClayBro released a video earlier this week speculating that the SOLX token could “10x” after it goes live.

Overall, if Mantra still feels like a gamble, Solaxy might be a better play.

Investors can learn more about Solaxty by following the project on X (Twitter) or joining the official Telegram channel.

Visit Solaxy Presale