Mantra CEO Attributes Massive OM Token Drop to Forced Liquidations

Mantra CEO JP Mullin has pinned the dramatic 90% decline of the OM token’s price on forced liquidations by centralized exchanges. On April 13th, the OM price plummeted from approximately $6.30 to below $0.50 within a few hours. Mullin addressed a wave of liquidations during low-liquidity hours on Sunday evening UTC, intensifying market reactions and contributing to the sharp price drop. He emphasized that this sell-off was unrelated to team or investor token sales, as the project’s vesting schedule continues to lock OM tokens. Mullin expressed confidence in the project’s long-term goals, encouraging community support.