Will Mantra Reach $1 Again? Token Burn Proposal Sparks Discussion

Mantra cryptocurrency saw a dramatic price increase following the announcement of a proposal to burn 300 million of its OM tokens, owned by CEO John Mullin. The token initially surged 30% after the announcement, but has since experienced a decrease in value. The drastic crash that led to this proposal left the project’s market capitalization plummeting from $6.30 to $0.52 before recovering. This event has sparked debate around the effectiveness of this move, particularly regarding potential impact on team motivation and investor trust.