MANTRA Continues to Plummet...Down 50% Compared to Previous Day

The decline of MANTRA (OM), which experienced the worst collapse the previous day, continues.

As of 7:50 AM on the 15th (KST), MANTRA is trading at $0.593 on CoinMarketCap, down 47.94% compared to the previous day.

Around 3 AM the previous day, the price of MANTRA plummeted from $6.3 to $0.4 in about an hour. Approximately 8 trillion won in market capitalization vanished in an hour.

Meanwhile, various analyses are emerging in the industry regarding this. First, the on-chain data analysis platform Glassnode stated via X (formerly Twitter) that "the MANTRA collapse seems to have been caused by forced liquidation or large-scale selling flow. The number of MANTRA transfers surged to 1,400 in 10 minutes at the time of the price plunge," explaining that "this suggests that the selling pressure was not limited to a few (whales) but that more market participants reacted en masse."

Rug pull suspicions were also raised. The famous virtual asset (cryptocurrency) detective ZachXBT wondered, "Was the whale wallet holding MANTRA hacked or exploited? One thing is clear, the reason for this drop is not a large-scale lock-up release," pointing out, "How can there be a drop of more than 90% in just one candle?"

However, MANTRA stated that the project team is not involved in this incident. The previous day, John Mullin, CEO of MANTRA, participated in the 'BTCON RWA SUMMIT 2025' held at the FKI Tower in Yeouido, Seoul, and stated, "The sharp decline of OM that occurred last night was caused by illegal and unfair margin calls leading to forced liquidation," and "Neither I, my team, investors, nor partners have sold any MANTRA tokens."