After suffering a devastating 90% plunge a few days ago, Mantra (OM) is staging a partial rebound.<\/p>\n
CEO John Patrick Mullin has pledged to burn his entire team\u2019s token allocation, worth hundreds of millions of dollars, as a bold move to win back community trust following a massive liquidation event that rattled the ecosystem.<\/p>\n
On April 13, OM nosedived<\/a> nearly 90% in under 24 hours, triggering panic and a wave of forced liquidations across crypto exchanges. Community speculation quickly turned toward the Mantra team, with accusations of insider dumping and manipulation.<\/p>\n However, Mullin responded swiftly and publicly, denying the allegations and clarifying that the team\u2019s 300 million OM tokens remain locked until at least April 2027.\u00a0In a move that\u2019s both symbolic and strategic, he announced<\/a> plans to permanently burn his entire allocation of 772,000 OM tokens, representing 0.25% of the team\u2019s share.<\/p>\n \u201cWhen we turn it around, the community and investors can decide if I\u2019ve earned it back,\u201d Mullin stated in a widely shared X post.<\/p>\n He also promised more transparency, a detailed post-mortem report, and a long-term token buyback program to restore confidence in the project\u2019s fundamentals.<\/p>\n Whether these steps ignite a full recovery remains to be seen. But for now, the market has responded with a tentative vote of confidence.<\/p>\n Following Mullin\u2019s announcement, OM surged over 31% in the past 24 hours, currently trading around $0.7796, up from its post-crash low of under $0.5 on most exchanges.<\/p>\n The token also saw an intraday high of $0.91, suggesting strong buying interest despite lingering market uncertainty.<\/p>\n The post OM Jumps 30% as Mantra CEO Announces Team Token Burn to Rebuild Trust After Crash<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" After suffering a devastating 90% plunge a few days ago, Mantra (OM) is staging a partial rebound. CEO John Patrick Mullin has pledged to burn his entire team\u2019s token allocation, worth hundreds of millions of dollars, as a bold move to win back community trust following a massive liquidation event that rattled the ecosystem. A […]<\/p>\n","protected":false},"author":0,"featured_media":59608,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-59607","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\/59607"}],"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=59607"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/59607\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/59608"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=59607"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=59607"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=59607"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Market Reaction: 31% Rebound Amid High Volatility<\/h2>\n