The price of the Mantra token has collapsed in what some traders are calling the worst project collapse since the LUNA crisis.
News
The price of the Mantra (OM) token, the native cryptocurrency of the Mantra real-world tokenized asset blockchain, has collapsed by over 90% in the last 24 hours.
On April 13, Mantra fell from a price of approximately $6.3 to below $0.50 and shed over 90% of its $6 billion market cap.
Mantra token market cap and overview. Source: CoinGecko
Traders are characterizing the token collapse as an apparent rug pull. Market investor Gordon wrote: “[The] team needs to address this or OM looks like it could head to zero. Biggest rug pull since LUNA/FTX?”
This is a developing story, and further information will be added as it becomes available.
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