"Can It Revive?"...MANTRA Surges 35% Compared to the Previous Day

The real-world asset (RWA) project cryptocurrency MANTRA (OM) has surged during the day. The market is focused on whether MANTRA can recover after experiencing the worst crash on the 14th.

As of 7:58 AM on the 16th (KST), MANTRA is recording $0.8020, a 33.82% increase compared to the previous day, according to CoinMarketCap. Although it recorded a surge on this day, it is still at a lower level compared to the price before the crash.

Previously, MANTRA's value plummeted by over 90% during the day on the 14th, causing a significant shock to the market. As a result, the price of MANTRA tokens, which was maintaining the $6 level at the time, fell to $0.5 within 30 minutes.

The crash led to a clash of responsibility between centralized exchanges (CEX) and the project team.

Immediately after the crash, several influencers, including the virtual asset detective ZachXBT, raised suspicions of a rug pull by the MANTRA team, but MANTRA immediately refuted this.

John Mullin, CEO of MANTRA, stated in an 'AMA (Ask Me Anything)' session with Cointelegraph, "Neither the MANTRA team, major investors, nor advisors sold tokens on a large scale," claiming that "the token's price plummeted due to forced liquidation at a specific centralized exchange."

He added, "I believe a particular exchange is responsible," clarifying, "It's not Binance."