Mantra says one particular exchange may have caused OM collapse

Share via:


The team behind real-world tokenized asset blockchain Mantra says its native token’s sudden 90% plunge was caused by exchanges forcibly closing positions without notice, with one currently unnamed exchange potentially to blame. 

On April 13, Mantra (OM) price dropped from $6.30 to below $0.50, rapidly shedding over 90% of its $6 billion market cap.

“We have determined that the OM market movements were triggered by reckless forced closures initiated by centralized exchanges on OM account holders,” Mantra co-founder John Mullin wrote in an April…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Popular

More Like this

Mantra says one particular exchange may have caused OM collapse


The team behind real-world tokenized asset blockchain Mantra says its native token’s sudden 90% plunge was caused by exchanges forcibly closing positions without notice, with one currently unnamed exchange potentially to blame. 

On April 13, Mantra (OM) price dropped from $6.30 to below $0.50, rapidly shedding over 90% of its $6 billion market cap.

“We have determined that the OM market movements were triggered by reckless forced closures initiated by centralized exchanges on OM account holders,” Mantra co-founder John Mullin wrote in an April…



Source link

Disclaimer

We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.

Website Upgradation is going on for any glitch kindly connect at office@startupnews.fyi

More like this

IT’s Europe deal momentum is up after three slow...

As the largest technology outsourcing market — the...

Delhivery Takes The Hyperlocal Turn

SUMMARY Delhivery has the scale and the capital to...

OpenAI removes ‘io’ branding mentions over trademark lawsuit

If you recently looked up but couldn’t find...

Popular

Upcoming Events

iptv asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas asdas