In the Crypto world, when the value of a token falls to 90% in a few hours, it is natural for investors to spread nervousness and mistrust. The same happened with Mantra’s Om Token, when its price fell from $ 6.30 to only $ 0.50 on 13 April, destroying the price of more than $ 6 billion. But a major decision by the company’s CEO John Mullin overturned the situation. After the announcement of burning his tokens, Mantra Om Token Value saw a jump of 26% in 24 hours.
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Om Token Crash and Investors concern
This crash on April 13 not only demolished the Om Coin Value but also questioned the credibility of the Mantra project. There were rumors on social media that internal people of the team made profits by selling tokens, but CEO John Mullin dismissed all these allegations outright. He said that this decline was caused by “reckless liquidations” and not due to any action by the team.
Trust tries to return: Team’s Om Token Burn decision
The biggest news came when Mullin posted on X (East Twitter) saying, “I am going to burn Om Token of all my team. When we return, the community and investors decide if I am capable of getting it again.” The team has 300 million Om Token, which is about 16.88% of the total supply. Their value at the current price is around $ 236 million. These tokens were first to be released between 2027 and 2029.
Investors’ response and market movement
This decision of CEO raised new hope among investors. The price of Om Coin jumped from $ 0.50 to $ 0.7791 within 24 hours after the arrival of this OM Coin Information and the trading volume increased to $ 1.45 billion. According to Coinmarketcap, OM’s market cap has now reached $ 734.8 million. Although some people warned that the token burn could affect the team’s longitarm motivation, but at the moment this step has become a relief for investors.
Further Plan: Ecosystem capitalasury and Society Vote
Mullin also indicated that any decision regarding the future tokens would be taken through a decentralized community vote. Also, Mantra’s team is now planning to buy and burn tokens using $ 109 million ecosystem capitaltreasury, which causes Om coin value Can get stability. Significantly, Mantra (OM) Token Crash created a stir in the crypto market and users were worried about the future of this token.
Conclusion
While the sudden fall of Om Token was a shock to investors, the adventure decision to burn the token of CEO has brought a new hope. This makes it clear that the projects can re -rise under transparency and responsibility leadership. Now everyone’s eyes are on Mantra Fix Plan and upcoming community decisions.
