Mantra (OM) experienced a dramatic price drop of over 90% in the past 24 hours, significantly impacting its market capitalization. The token’s $6 billion valuation has fallen to approximately $485 million as of now. 2 days ago, Mantra was experiencing impressive gains of 640% over 12 months. A new report from CoinGecko details the rapid decline and provides insights into the company’s journey and future plans. The CEO of Mantra, Patrick Mullin, expressed a vision for the company to become a fully compliant ecosystem focused on real-world asset (RWA) tokenization and trading. Recently granted a VASP license from Dubai’s VARA, Mantra was intending to establish a legal virtual asset exchange platform. It remains unclear if this recent downturn will affect these plans. 2 days ago, the company launched its Mantra Ecosystem Fund. This fund is dedicated to supporting RWA and DeFi projects globally for over four years and provides OM-token grants and capital investments. Mantra’s initiatives include lending/borrowing, trading, asset management, derivatives, and infrastructure. The company recently partnered with DAMAC Group on a $1 billion tokenization deal covering real estate, hospitality, data centers. This situation is still developing; stay tuned for more updates.