MANTRA Token Nosedives 90% in 24 Hours, Prompts Rug Pull

MANTRA Mantra denied insider trading claims, blaming the crash on "reckless liquidations" and insisting its core fundamentals are intact. Last updated: April 14, 2025 Crypto Reporter Shalini Nagarajan Crypto Reporter Shalini Nagarajan About Author Shalini is a crypto reporter who provides in-depth reports on daily developments and regulatory shifts in the cryptocurrency sector. Author Profile Share Copied Last updated: April 14, 2025 at 07:24 GMT+3 Why Trust Cryptonews Cryptonews has covered the cryptocurrency industry topics since 2017, aiming to provide informative insights to our readers. Our journalists and analysts have extensive experience in market analysis and blockchain technologies. We strive to maintain high editorial standards, focusing on factual accuracy and balanced reporting across all areas - from cryptocurrencies and blockchain projects to industry events, products, and technological developments. Our ongoing presence in the industry reflects our commitment to delivering relevant information in the evolving world of digital assets. Read more about Cryptonews The native token of the MANTRA blockchain project has plunged more than 90% in a single day, raising fresh concerns over the stability of real-world asset tokenization platforms. On April 13, the price of OM, MANTRA’s native cryptocurrency, dropped from around $6.30 to below $0.50. The sharp fall erased over US$6b from its market capitalization in less than 24 hours. The collapse came during a period of thin weekend trading, amplifying its impact across the broader DeFi ecosystem. Some traders described the event as an apparent rug pull, drawing comparisons to past market collapses like Terra’s LUNA and the FTX fallout. Image Source: CoinMarketCap Mantra Founder Claims Crash Caused By Sudden Liquidation During Low-Liquidity Trading Hours. Investor Gordon, who posted on X, said it appeared that the MANTRA team may have been holding a large amount of the token’s supply, and the market “sold everything.” He called it the biggest rug pull since LUNA and FTX,... https://cryptonews.com/news/mantra-token-nosedives-prompts-rug-pull-accusations/ #crypto #bitcoin #ethereum #cryptocurrency #news #blockchain #litecoin #cryptonews #cryptonewstoday #cryptoworld #cryptonewstoday ***NOT FINANCIAL, LEGAL, OR TAX ADVICE! JUST OPINION! I AM NOT AN EXPERT! I DO NOT GUARANTEE A PARTICULAR OUTCOME I HAVE NO INSIDE KNOWLEDGE! YOU NEED TO DO YOUR OWN RESEARCH AND MAKE YOUR OWN DECISIONS! THIS IS JUST ENTERTAINMENT! This information is what was found publicly on the internet. This information could’ve been doctored or misrepresented by the internet. All information is meant for public awareness and is public domain. This information is not intended to slander harm or defame any of the actors involved but to show what was said through their social media accounts. Please take this information and do your own research. bitcoin, blockchain, crypto, cryptocurrency, altcoin, investment, ethereum, bitcoin crash, xrp, cardano, ripple