Farcaster

​On April 14, 2025, Mantra's OM token experienced a dramatic price crash, plummeting over 90% from approximately $6.30 to below $0.50 within hours. This sudden decline wiped out more than $5.5 billion in market capitalization, drawing comparisons to previous significant collapses in the crypto space, such as the Terra LUNA incident. The crash was triggered by a large deposit of OM tokens into the OKX exchange, linked to potential insider activity, and was exacerbated by forced liquidations initiated by centralized exchanges during low liquidity periods. As of now, OM is trading at approximately $0.71, reflecting a nearly 100% bounce from the April 13 low but still 87% below its pre-crash value.