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- Analysts decode the reasons behind the 90% OM price crash.
- Several red flags were highlighted for the Mantra project.
- Has OM become the LUNA of this ongoing bull cycle?
The crypto market was shaken by a massive price crash for a popular RWA token to start off the new week. In detail, $6 billion was wiped out in 30 minutes and the price of Mantra (OM) fell from $7 to $0.5. Analysts have come together to figure out what caused the 90% OM price crash as more traders have begun to call OM the LUNA of this ongoing bull cycle.
What Caused the 90% OM Price Crash
Mantra (OM) is a popular RWA project identifying itself as a security-first L1 blockchain for real-world assets (RWA). This RWA project, thanks to its various credible partnerships and Binance listing claimed to be the future of finance and had no trouble winning over investor trust and faith allowing the price of OM to grow steadily since its arrival. However, it seems this trust was taken advantage of by bad actors and analysts and traders are yet to decide if the Mantra team can be trusted.
So what caused the 90% OM price crash? Was it just a few bad actors that took advantage of a situation or was the Manta team planning to pull out and leave its users hanging since the very beginning? As we can see from the post above, this investor and crypto leaders shares what he calls his decoding of the whole OM crash event.
Like many other observant community members he too has notices that this all started when a wallet believed to be connected to the Mantra Chain team suddenly deposited 3.9 million OM tokens on the OKX crypto exchange. Moreover, it was clear that the OM team controls about 90% of the token’s total supply meaning that just a few people have most of the power in this ecosystem marking the project’s first giant red flag.
Next, the post marks how there has been several trust issues with the team. These issues include the team allegedly using market makers to keep the price steady artificially and quietly changing the token’s economics. Most suspicious of all was that OM kept delaying a promised community airdrop. Therefore, when the OM deposit arrived on OKX, the community feared a bug sell-off which is exactly what happed.
Has OM Become the LUNA of this Cycle?
As selling pressure increased, over-the-counter deals came into play. It was rumored that Mantra sold Om in private sales at much cheaper prices for private investors. This led to panic selling from these investors who were suddenly at a great loss. This led to a chain reaction of more holders selling their OM tokens leading several analysts to conclude that OM price just not just drop and was rather facing a huge meltdown.
This might be a disaster on the level of LUNA
Over $6B extracted from crypto in just 30 minutes
Here’s everything going on with $OM
And the red flags investors ignored
(1/9) pic.twitter.com/zd04DZg3yA
— StarPlatinum (@StarPlatinumSOL) April 13, 2025
In conclusion, the analyst advises traders to not trust projects where the team isn’t transparent, promises keep getting delayed, the price is too stable or too good to be true, and where a small group controls the major token supply. Another analyst breaks down pretty much the same in the post above but also adds how the Mantra (OM) Telegram group disappeared after someone called the project LUNA 2.0.
