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 ( data-ct-non-breakable=”null” href=”https://cointelegraph.com/mantra-price-index” rel=”” target=”_self” text=”null” title=”https://cointelegraph.com/mantra-price-index”>OM) data-ct-non-breakable=”null” href=”https://cointelegraph.com/news/mantra-price-collapses-by-over-90″ rel=”null” target=”null” text=”null” title=”null”>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 data-ct-non-breakable=”null” href=”https://x.com/jp_mullin888/status/1911559071263822020″ rel=”null” target=”null” text=”null” title=”null”>wrote in an April…

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 ( data-ct-non-breakable=”null” href=”https://cointelegraph.com/mantra-price-index” rel=”” target=”_self” text=”null” title=”https://cointelegraph.com/mantra-price-index”>OM) data-ct-non-breakable=”null” href=”https://cointelegraph.com/news/mantra-price-collapses-by-over-90″ rel=”null” target=”null” text=”null” title=”null”>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 data-ct-non-breakable=”null” href=”https://x.com/jp_mullin888/status/1911559071263822020″ rel=”null” target=”null” text=”null” title=”null”>wrote in an April…