The CEO of Mantra, JP Mullin, burns 150 million OM tokens of its own allowance and engaging in other ecosystem partners to burn 150 million additional tokens. These 300 million OM tasks aim to restore the confidence of investors in the project and stabilize the dynamics of Altcoin prices.
OM tries to recover from one of the most dramatic accidents in the history of recent cryptography. On April 13, it lost more than 90% of its value in one hour. The collapse, which has erased more than $ 5.5 billion in market capitalization, sparked generalized accusations of activity and manipulation of initiates in the active sector of the real world (RWA).
Understand the burn of the Mantra tokens
Mantra, formerly one of the largest players in the active sector in the real world (RWA), underwent a spectacular collapse on April 13, its token over 90% in less than an hour and annihilating more than $ 5.5 billion in capitalization of the market.
The dive followed a quick increase earlier this year, when OM went from $ 0.013 to more than $ 6, pushing its assessment entirely diluted to $ 11 billion. The accident would have been launched by a $ 40 million token deposit in OKX by a portfolio allegedly linked to the team, arousing fears of the sale of initiates.
Panic quickly spread as rumors of over -disclosed free -free offers, delayed air terminals and excessive token food concentration fueled mass liquidations through exchanges.
Despite the co -founder John Patrick Mullin denying any reprehensible act and blaming centralized exchanges against closings, investors and forced analysts have raised concerns concerning the potential manipulation of market manufacturers and CEX, making comparisons with past collapses as Terra Luna.
In an effort to rebuild confidence, Mullin announced the permanent burn of its 150 million OM team allowances. The tokens, originally at the launch of Mainnet in October 2024, are now not limited and will be fully burned on April 29, reducing OM’s total offer from 1.82 billion to 1.67 billion.
This decision also reduces the marked amount of the network of 150 million tokens, which could have an impact on stimulation on the chain APR.
In addition, Mantra is in talks with partners to implement a second 150 million OM Burn, potentially reducing the total offer of 300 million tokens.
Om Price faces a critical test like Token burns fights
Despite the burning efforts of the Mantra tokens, it is still not certain that this decision will be sufficient to fully restore the confidence of investors in OM.
From a technical point of view, if the momentum begins to recover, OM could test the immediate resistance at $ 0.59. Successful escape at this level can open the way to additional gains to $ 0.71, with additional key obstacles to $ 0.89 and $ 0.997 stood between the token and a return to the psychologically significant brand at $ 1.
However, the recovery of these levels will probably require prolonged purchase interest and a wider recovery of feelings in the real asset sector (RWA).
Lower down, if the token burn fails to change feelings or if the sales pressure continues, the Risks OM residing.
The first key support is at $ 0.51, and a ventilation below this level could send the lower price to $ 0.469.
Given the magnitude of the recent crash and persistent distrust among investors, the path of recovery remains fragile – is now at a critical crossroads between a potential rebound and an in -depth erosion of its market value.
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