Mantra CEO Blames Forced Exhange Liquidations for 90% Token Price Crash

Mantra’s CEO, JP Mullin, attributes the price plunge of OM tokens by nearly 90% on April 13th to forced liquidations from centralized exchanges. The sudden sell-off saw prices drop dramatically from around $6.30 to under $0.50 within hours, with Mullin stating that these actions were initiated during low-liquidity hours on Sunday evening UTC. He clarified that the price drop was not a result of team or investor sales as OM tokens remain locked according to the project’s vesting schedule. Mullin also affirmed the project’s commitment and called for continued community support.