The Mantra OM token crashed 90%, losing $6 billion. Can OM crypto recover? The team plans to buy back and burn tokens to stabilize prices and reduce circulating supply. Best Wallet presale raises over $11 million.
It has been a devastating week for Mantra and OM crypto holders. In a flash crash on April 13, 2025, OMUSDT crashed by over 90%, erasing nearly $6 billion in market capitalization.
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The OM Crypto Sell-Off
The OM crypto price collapsed from over $7 to below $0.50, sparking intense debate, finger-pointing, and scrutiny over the projectâs reliance on centralized exchanges like Binance and OKX.
(OMUSDT)
The Mantra team accused these exchanges of allowing aggressive liquidations, which exacerbated the sell-off during a low-liquidity Sunday.
3) To the community of OM traders, you have long believed in MANTRA. However, yesterday, as a result of massive forced liquidations of large OM holdersâ positions on a particular crypto exchange, many suffered losses. Regardless of your scale of loss, you are very much on my mindâŚ
â JP Mullin (đ, đď¸) (@jp_mullin888) April 15, 2025
As OM continues to hit lower lows, investors are left wondering: Can OM crypto recover, or is it time to move on?
The OM price crash was one of the most severe in recent months. While some meme coins can crash 90% shortly after launch, the Mantra OM price collapse was unexpected.
Unlike volatile meme coins, Mantra had secured investments from venture capitalists and enjoyed strong community trust, bolstered by overwhelming support before the crash.
Notably, the involvement of venture capitalists pointed to thorough due diligence, making the flash crash even more shocking.
The team faced accusations of orchestrating a rug pull after suspicious transactions surfaced days before the collapse.
Breaking: đ¨ $OM @MANTRA_Chain Just rugged. $9 to 0.50
What happened? @zachxbt has said: "Thereâs no question it was a heavily manipulated token via MMs / supply control". The Mantra Discord community is awaiting updates from the team.
Ouch, that rugpull stung! đ Shake it⌠pic.twitter.com/USlZdypV7T
â Dead Bears Club (@DeadBearsX) April 13, 2025
The temporary shutdown of their Telegram group heightened panic, leaving desperate investors in the dark.
Will Mantra Ever Recover?
Although co-founder John Patrick Mullin denied wrongdoing, many crypto holders remain skeptical.
To rebuild confidence and restore investor trust, the team announced an emergency token buyback and burn program to reduce circulating supply and stabilize prices. However, details remain scant.
The burn program details are in the final stages, and will be shared in the near future. Buyback program also well underway. We are working around the clock for the Sherpas/OMies. đŤĄđď¸
â JP Mullin (đ, đď¸) (@jp_mullin888) April 18, 2025
Mullin promised improved transparency, with future measures focusing on enhanced community communication and transparency audits.
These efforts have yet to bolster prices, and the road to recovery appears daunting. OMUSDT continues to print lower lows, and market sentiment remains deeply negative.
Spotlight on Best Wallet Presale
With the OM crypto future uncertain, savvy investors are exploring some of the hottest presales in 2025.
In focus is the Best Wallet presale, whose token, BEST, is emerging as one of the best cryptos to buy in April 2025.
Best Wallet is a next-generation token storage platform gaining traction for its innovation and community focus.
Unlike MetaMask and other alternatives, Best Wallet is building an all-in-one DeFi ecosystem and crypto hub to empower users with multiple utilities and seamless access.
The platform features a presale aggregator, which allows investors to invest in promising projects early via the âUpcoming Tokensâ section.
Additionally, an in-built cross-chain DEX aggregates the best prices from over 200 exchanges.
DeFi enthusiasts can stake through Best Wallet to earn top APYs within the broader ecosystem.
Holders of the BEST utility token can stake for triple-digit yields, enjoy lower trading fees, access higher staking rewards, and vote on governance proposals.
In the Best Wallet presale, over $11 million has been raised.
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Mantra (OM) Crypto Crash, Best Wallet Presale Raises Over $11M
- Mantra OM crypto down 90% and fallingÂ
- Mantra team accused of rug pullingÂ
- Plans to burn and buy back tokensÂ
- Best Wallet presale raises over $11 millionÂ
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