Mantra Token Price Crashes 90%

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The Mantra token, native to the Mantra blockchain for real-world tokenized assets, has plummeted by over 90% within 24 hours.

On April 13, the price of Mantra dropped from approximately $6.3 to below $0.50, losing more than 90% of its $6 billion market cap.

Some traders described the crash as a potential rug pull, with investor Gordon stating, “The team needs to address this, or OM might head to zero—biggest rug pull since LUNA/FTX?”

The exact cause of the OM token’s collapse is currently unclear.

This event follows a series of major token collapses and cybersecurity issues, including the implosion of the Libra memecoin and the $1.4 billion Bybit hack, which have led to substantial investor losses in early 2025.