Mantra Token Plummets 93% in 24 Hours – Drops to $0.43

In just 24 hours, the OM token — native to the real-world asset blockchain Mantra — has crashed by more than 90%. On April 13, OM dropped from around $6.20 to below $0.43, wiping out over $6 billion in market capitalization. This sudden plunge stunned traders across the market. Some even labeled it a potential rug pull. On platform X, investor Gordon wrote: "This needs to be fixed now, or OM could hit zero – possibly the biggest rug pull since LUNA and FTX." However, the true cause of the crash remains unclear. Mantra co-founder JP Mullin responded on X, assuring the community: "We are here and not going anywhere." He also shared a wallet address containing OM tokens held by the team. According to Mantra, the crash was caused by “reckless liquidations”, not any action by the project team. What makes this more alarming is the timing — just months ago, Mantra made significant strides in the Middle East. In January, the company signed a $1 billion tokenization deal with real estate giant DAMAC. And in February, it secured a license from Dubai’s Virtual Assets Regulatory Authority (VARA) to offer virtual asset services legally in the UAE. Mantra had ambitions to lead the growing demand for tokenized real estate and physical assets. But now, the future of OM looks uncertain, and investor confidence in the project is being seriously questioned. #CryptoForBeginners #CryptoInvestingTips #LearnCrypto #BeginnerCryptoGuide #HowToInvestInCrypto