It\u2019s not often that we see multi-billion dollars worth of market capitalization being erased in a matter of hours.<\/p>\n
This was the case with Mantra (OM). The protocol, which was largely considered as one of the best RWA crypto projects in 2025<\/a> went through a massive crash, which erased 90% of its market value in less than an hour.<\/p>\n <\/a>Source: CoinGecko<\/p>\n The OM price went from above $6 to below $1 in a moment, while liquidations surpassed $70 million, according<\/a> to data from Coinglass.<\/p>\n Speaking on the matter was JP Mullin, co-founder and CEO of the protocol, who explained:<\/p>\n We have determined that the OM market movements were triggered by reckless forced closures initiated by centralized exchanges on OM account holders. The timing and depth of the crash suggest that a very sudden closure of account positions was initiated without sufficient warning or notice.<\/p>\n Sherpas, OMies, and broader crypto community,<\/p>\n First off, the team and I greatly appreciate the support that we have received over the past several hours, which we believe is a testament to the strong support MANTRA has among its investors and community.<\/p>\n We have determined that\u2026<\/p>\n \u2014 JP Mullin (, \ufe0f) (@jp_mullin888) April 13, 2025<\/a><\/p>\n\n The post Mantra (OM) Price Crashes 90% in an Hour: CEO Provides Explanation<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" It\u2019s not often that we see multi-billion dollars worth of market capitalization being erased in a matter of hours. This was the case with Mantra (OM). The protocol, which was largely considered as one of the best RWA crypto projects in 2025 went through a massive crash, which erased 90% of its market value in […]<\/p>\n","protected":false},"author":0,"featured_media":58991,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-58990","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/58990"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=58990"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/58990\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/58991"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=58990"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=58990"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=58990"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
![<\/a>Source: CoinGecko<\/p>\nThe OM price went from above $6 to below $1 in a moment, while liquidations surpassed $70 million, according<\/a> to data from Coinglass.<\/p>\nSpeaking on the matter was JP Mullin, co-founder and CEO of the protocol, who explained:<\/p>\nWe have determined that the OM market movements were triggered by reckless forced closures initiated by centralized exchanges on OM account holders. The timing and depth of the crash suggest that a very sudden closure of account positions was initiated without sufficient warning or notice.<\/p>\nSherpas, OMies, and broader crypto community,<\/p>\nFirst off, the team and I greatly appreciate the support that we have received over the past several hours, which we believe is a testament to the strong support MANTRA has among its investors and community.<\/p>\nWe have determined that\u2026<\/p>\n\u2014 JP Mullin (, \ufe0f) (@jp_mullin888) April 13, 2025<\/a><\/p>\n\nThe post Mantra (OM) Price Crashes 90% in an Hour: CEO Provides Explanation<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":"It\u2019s not often that we see multi-billion dollars worth of market capitalization being erased in a matter of hours. This was the case with Mantra (OM). The protocol, which was largely considered as one of the best RWA crypto projects in 2025 went through a massive crash, which erased 90% of its market value in […]<\/p>\n","protected":false},"author":0,"featured_media":58991,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-58990","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/58990"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=58990"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/58990\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/58991"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=58990"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=58990"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=58990"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}](\"https:\/\/cryptopotato.com\/wp-content\/uploads\/2025\/04\/Screenshot-2025-04-14-at-7.32.19.png\"){kind=link}