Creze Mantra blames 90% OM token Crash on Exchange Liquidation

The Chief Executive Director of Mantra JP Mullin claims that the decline in pricing caused by forced liquidations by centralized exchange.

Mantra price (OMA) submerged Over 90% 13. April, fall from about $ 6.30 at below $ 0.50 within hours. At 13. April at X in KS, Mullin said that a sharp decline in OM was caused by forced liquidations that drive centralized exchange. He explained that these actions were at once and during low liquidity on Sunday night UTC, which may have strengthened the impact on the market.

Mullin clarified that the sale was not a consequence of any tokens by the Mantra team or its investors, noting that the OM tokens remain locked in accordance with the project schedule. He also confirmed the long-term commitment of the project and called for continuous community support.

However, several independent analysts made contradictory claims. One crypto analyst, Max Brown, claimed that the sale began when 3.9 million of the token was deposited on the Catalian for which it was considered to be connected to the Mantra team. Given that the team allegedly controls almost 90% of the total bid, this starts on the market and launched sold out.

The sharp sale deleted more than $ 5.5 billion of market capitalization, reducing the OM market of $ 6 billion at below $ 485 million at the lowest point. The token is traded from $ 0.8623 from the printing time, down 90% of its time of all time of $ 18.99. Om’s trading volume jumped more than 2,500% in the last 24 hours, reached $ 1.9 billion, by crypto.news price trager.

Runified as a regulatory-harmonized actual layer focused on world cut, the Mantra has brought headlines for its partnerships and regulatory progress in recent months. In January, he signed a $ 1 billion in a real estate Giant Damac to tokerize property. Mantra was also Zelenko to work lawfully in the UAE after approved the Virtual Provider of Property Services license by Dubai’s cheats in February.

Even so, the fall has renewed earlier criticism of the project. Vu Blockcain, Popular X News Channel, repeat WARNING 2021. About the Mantra’s principal, connecting them to the gambling sites and previous false investment claims. Some traders expressed concerns about the transparency and exchange process, comparing the fall to passed collapses like Tera.