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The mantra cryptography accident has wiped over $ 4.5 billion in less than two hours after OM dived 90%, arousing fears by carpet.
The Mantra team denied any involvement.
“Today's activity has been triggered by reckless liquidations, not to do with the project”, Mantra poster On his official account X on April 13. “One thing we want to be clear on: it was not our team.”
Mantra Crypto Crash erases $ 4.5 billion in market capitalization
THE Mantra Token has seen its market capitalization go from more than $ 5 billion to around $ 500 million in less than 2 hours.
He has since slightly recovered to a market capitalization of approximately $ 761 million, data from Coinmarketcap shows.
The price of the crypto is however still down more than 87% over the daily time to negotiate at $ 0.7902 to 1:14 HNE.
The Lookonchain chain analysis platform said in an X Post today that before the mantra chip crash, at least 17 wallets deposited 43.6 OM tokens, worth $ 227 million at the time, in exchanges. This amount totaled 4.3% of the food in circulation of Altcoin.
Who dropped the price of $ OM?
Before the $ OM Crash (since April 7), at least 17 portfolios deposited 43.6 m $ OM($ 227 million at the time) in exchanges, 4.5% of food in circulation.
According to the Arkham tag, 2 of these addresses are linked to digital laser.
Digital laser is a strategy … pic.twitter.com/zb8yaprpso
– Lookonchain (@lookonchain) April 14, 2025
Lookonchain cited the data of Arkham Intelligence and added that 2 of the addresses belonged to the digital laser, a strategic investor in the Blockchain Layer-1 project.
Lead of the Mantra community denies the allegations of Rug-Pulle
The sudden drop in price has triggered rumors that the Mantra tokens team is the source of the sales activity.
A message published by $ OM (Mantra) The chief of the Dustin McDaniel community minimized the allegations that the Mantra team has sold. 🤔 pic.twitter.com/jq7qfmsfpr
– Satoshi Club (@esatoshicub) April 13, 2025
An investor said in the project Telegram group that “the robust team” and that “it's over”. The chief of the Dustin McDaniel community responded to the message and denied that the team was behind the sales activity.
He added that the team is based in Hong Kong and that it was 3:00 am when the activity occurred.
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