Mantra (OM) Crypto Crash: 90% Value Plunge and $8 Billion Wiped Out

MetaversePlanet April 15, 2025Last Updated: April 15, 2025

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One of the most popular cryptocurrencies lost nearly 90% of its value within hours—resulting in a wipeout of $8 billion! The cryptocurrency known as Mantra (OM) lost approximately 90% of its value in just a few hours today. So, what happened?

The crypto sector once again revealed its harsh side. Referred to as Mantra (OM), and having recently ranked among the largest cryptocurrencies by volume, OM caused a multi-billion-dollar loss within hours.

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So, what exactly occurred?

The relatively new cryptocurrency, Mantra (OM), had captured the attention of many investors. OM, which reached a value of $1 in July, had climbed to $8.2 on February 23, 2025. Due to a recent overall downturn, the crypto asset was trading around $6, but yesterday it plunged to as low as $0.5 within a matter of hours. As you can see in the table above, OM lost its value without even giving its investors a chance. In the last 24 hours, the crypto asset lost over 87% of its value, creating an unprecedented situation for its investors. The event surrounding OM has led to the erasure of approximately $8 billion from the markets.

So, why did such a drop occur?

There is no official explanation regarding the incident; however, some sources claim that the Mantra team sold off their holdings at the peak, and once this news spread, the selling pressure intensified. Additionally, many people are blaming Binance, the world’s largest cryptocurrency exchange, for this event. Investors are criticizing Binance for not freezing its developer accounts.