Mantra (OM) Price Collapse on Binance: What Happened?

Updated

April 15, 2025

Gambar Mantra (OM) Price Collapse on Binance: What Happened?

Jakarta, Pintu News – The cryptocurrency market was recently shocked by the price drop of the Mantra token, which reached more than 90% in one day. Binance, as one of the largest cryptocurrency exchanges, has provided an explanation for this phenomenon. According to a post on X on Monday, this drastic drop was mainly due to massive inter-exchange liquidations and massive token sales.

Binance Official Statement Regarding the Spell Price Collapse (OM)

Binance is aware that $OM, the native token of MANTRA, has experienced significant price volatilities. Our initial findings indicate that the developments over the past day are a result of cross-exchange liquidations.

Since October of last year, Binance has implemented various…
— Binance Customer Support (@BinanceHelpDesk) April 14, 2025

Binance announced via X on Monday, April 14, that it has been investigating the root cause of the significant Mantra (OM) price drop. Preliminary results suggest that massive inter-exchange liquidation is the primary cause. Since October last year, Binance has implemented various risk control measures, including the reduction of leverage levels for OM tokens.

Since January this year, Binance has also installed pop-up alerts on the spot trading page to inform users of changes in the token’s tokenomics. Binance emphasizes that the increase in Mantra supply since the beginning of this year is a factor to watch out for in observing price movements.

Also Read: Ripple (XRP) Movement and Potential Correction: What Crypto Investors Need to Watch Out for?

Main Causes of Mantra Price Drop (OM)

The nearly 90% drop in Mantra (OM) price was mainly due to massive OM sales, liquidations, and rug-pull allegations against the project. Lookonchain, an on-chain tracker, revealed in an X post that at least 17 wallets had deposited $227 million worth of tokens into the exchange before the price plummeted.

As a result of this massive sell-off, there have been $66.97 million worth of liquidations in the last 12 hours, which has put additional pressure on the price. With the latest information from Binance, these factors have triggered a strong bearish sentiment among investors towards the coin.

Market Reaction and Risk Control Measures

The market reacted quickly to the price drop of Mantra (OM), with many investors trying to understand the impact of this news on their portfolios. Binance, as a major player in the market, has gone to great lengths to protect its users by implementing strict risk control measures.

These measures include reducing leverage and alerting users of changes in the token economy. These measures are expected to help mitigate the negative impact of high market volatility and provide more security for Binance users.

Conclusion: The Future of Mantra (OM) and Lessons Learned

This Mantra (OM) price collapse is an important reminder to investors about the risks associated with investing in the cryptocurrency market. It is important for investors to do their due diligence and fully understand the dynamics affecting the price of crypto assets. Binance, with its risk control measures, strives to minimize the negative impact on its users and ensure a safer platform for trading.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Trading crypto carries high risk and volatility, always do your own research and use cold hard cash before investing. All activities of buying andselling Bitcoin and other crypto asset investments are the responsibility of the reader.