MANTRA CEO Blames Forced Liquidations for OM Token Price Drop

The price of OM token, associated with MANTRA’s decentralized finance platform, experienced a significant drop of approximately 90%, plummeting from $9 to around $0.37 in a short span. CEO John Patrick Mullin attributed this decline to forced liquidations on centralized exchanges during periods of low trading activity. He expressed suspicion that these closures might have been caused by negligence or deliberate actions by the exchanges involved. This comes amidst a trend of similar sudden price drops affecting other cryptocurrencies like Act I: The AI Prophecy, DeXe, and dForce following adjustments in trading rules.