🧵 The $OM Token Crash: 90% GONE in Hours 😱📉

 What is Mantra? 🏛️

Mantra is a rising star in the Real World Assets (RWA) space — aiming to tokenize things like real estate and bonds on-chain.
Its token, $OM, had soared past $6 and was making waves... until it wasn’t. 🌊

The Collapse 💥

On April 13, 2025, $OM’s price plummeted by 90% in a matter of hours — from over $6 to $0.46.
Market cap? Gone — from $6B+ to under $700M.
Traders were stunned. 😵‍💫

₿itcoiner 🟧 Support anything decentralised 🟪

What Did Mantra Say? 🧑‍💼📢

Co-founder John Mullin blamed:
👉 “Reckless forced closures” by centralized exchanges
👉 Not internal dumping — said the team didn’t sell during the chaos

Basically: "It wasn’t us. The system broke." 😬

Tokenomics Red Flag 🚩

Back in Oct 2024, Mantra:
🔁 Doubled $OM’s supply
📈 Introduced 8% annual inflation
🚫 Removed the supply cap

These changes raised eyebrows — and possibly set the stage for this meltdown. 🧨

The Bounce (or the Trap?) 🎢

After crashing to $0.46, $OM rebounded 200% to $1.10.
But some warned: this could be a bull trap, just like LUNA’s infamous fake bounce before its death spiral in 2022. ⚠️

Community Demands Transparency 🧑‍🤝‍🧑🔍

As pressure grew, Mantra promised:
✅ On-chain proof of token holdings
✅ More transparency around wallets + activity
Still, trust was already shaken. 🤝💔

Whale Dump or Misfire? 🐳❓

Rumors swirled:
🚨 17 wallets moved 43M+ $OM to exchanges — $200M+ worth
🕵️ Allegedly linked to big investors

But those firms denied any wrongdoing, claiming the wallets were misidentified.
Still… the timing was suspicious. 🕰️