Mantra (OM) Coin Price is Putting Hope in Investors' Eyes After Crashing 90% Few Days Ago

The Mantra Om Coin price is putting hope in investors' eyes after crashing 90% few days ago. As of now, many investors believe the token is going back on track

The price of Mantra Coin (OM) has been making headlines after a 90% crash in recent days. However, the token is showing signs of bouncing back, with a 60% surge in the past 24 hours.

At the time of writing, the token is trading at $0.8181, with a market cap of $798.83 million and a trading volume of $1.5 billion.

This surge follows a 93% drop just a day ago, highlighting the massive price swings that Mantra Coin has been subject to.

The sudden drop in OM's price began early Monday morning when the token experienced a steep decline, plummeting over 90%.

However, by Tuesday night, the coin had managed to recover slightly, as it clocked a 60% hike. But looking at the price at which it crashed, it still has to show much more strength to regain investor confidence.

This price pump can be due to buying pressure created by traders who are looking for a relief bounce that occurs a lot of time after such a huge crash.

A recent report by Blockware Intelligence highlighted the significant role of Binance in the recent cryptocurrency market volatility. The report focused on Binance’s role in liquidating large token positions, which may have contributed to the crashes of several tokens.

One instance mentioned was the rapid price drop of Mantra Coin (OM) from $14 to $1.20 within a few hours on Monday. Social media sleuths targeted Binance high token transactions for the OM token.

Reports suggested that Binance restricted liquidity for OM, which could have been a factor in the coin's initial crash. This move triggered further uncertainty among investors, who were unsure about the token's future on major exchanges.

However, Binance later clarified that they were closing their staking contract for OM, as the period was over and no sell-off was initiated by them.

Mantra (OM) is known for having a strong foundation in real-world asset (RWA) tokenization, with the partnership with DAMAC Group as a major deal expanding its presence in the Middle East.

This factor provides OM with a distinct advantage within the expanding market for tokenized assets, differentiating it from speculative coins.

Moreover, the transparency of the Mantra team in disclosing the cause of the crash, attributing it to forced liquidations on exchanges, has also contributed to the recovery of investor confidence.

Having already experienced robust rebounds and with institutions showing interest in Mantra, the token could be poised for further gains as the market for RWA tokenization continues to expand.