Mantra DAO Transfers $26.96 Million in OM Tokens to Binance Amid Concerns Over Insider Selling

Following a dramatic 90% price drop for Mantra’s OM token, concerns about insider selling have intensified. The latest move by Mantra DAO, the organization behind the RWA-focused project, has fueled these fears. On Monday, April 14th, the Mantra DAO sent an additional $26.96 million in OM tokens to a Binance wallet. This transfer follows a steep decline from $6.28 to its current price of $0.7192. Experts attribute this dramatic fall to potentially motivated selling by insiders due to the token’s collapse. 90% of the OM supply is controlled by the Mantra team, and the recent move has only further raised concerns about insider trading.