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Information about MANTRA (OM)
MANTRA DAO is a decentralized financial platform built on the RioChain blockchain and will be connected to Polkadot. MANTRA DAO focuses on staking, lending, and decentralized governance (DAO) products. This project is designed to act as an ecosystem for Web 3.0.
This company operates by providing services and collecting fees for collateral assets. MANTRA DAO’s business plan focuses on earning interest from OM loans and staking. Some of the major investors in MANTRA DAO include Kenetic Capital, Genesis Block, and Moonrock Capital.
OM is an active token in the MANTRA DAO ecosystem, powered by OM and used for decentralized governance, staking, and lending. OM token holders receive an estimated 88.8% annual reward for staking OM on the platform.
News
On April 13, 2025, the Mantra OM token suffered a 90% crash, dropping from 6.35 USD to 0.37 USD, and its market cap fell to 683 million USD. CEO John Patrick Mullin linked the decline to reckless liquidations, while conspiracy theories emerged amid a drop in investor trust.
In contrast, XRP is now seen as a frontrunner for ETF approval, leading with 10 applications as major firms submit proposals. Teucrium launched a 2x leveraged ETF for XRP, XXRP, which garnered over 5 million USD in trading volume on its opening day.
The sentiment in the crypto market remains polarized due to the contrasting signals from Mantra’s OM crash and XRP’s potential ETF success. Investors are reassessing their positions as they await upcoming decisions from the SEC, aiming for stability in the volatile market.
In the last 24 hours, XRP, Dogecoin, and Mantra suffered significant long-position liquidations. XRP saw $2.24 million in liquidations against $1.70 million in shorts, while Dogecoin recorded $3.39 million and Mantra’s OM experienced $8.85 million.
The cryptocurrency market faces volatility due to tariff announcements from US President Donald Trump. This uncertainty influences price movements for Bitcoin and altcoins, slowing down recovery efforts.
Bitcoin’s dominance is climbing towards a four-year peak at 63.85%. As Bitcoin holds steady, the expected altcoin season may be delayed, reflecting a challenging environment for altcoin traders.
The crypto market added 8% this week, reaching 2.7 trillion USD. Bitcoin trades above its 50-day moving average at 85,700 USD, suggesting a potential shift in trend. Solana’s 20% increase signals potential bullish movement.
Global investments in crypto funds saw a decline of 795 million USD, primarily from Bitcoin and Ethereum. Recent tariff changes have exacerbated outflows with 7.2 billion USD recorded this year.
The popularity of Bitcoin call options at 100,000 USD is on the rise, with significant open interest noted. However, the MANTRA token’s drastic drop has raised concerns about possible fraudulent activities.
After the OM token’s catastrophic failure, analysts are urging the Pi Core Team to enhance transparency and adopt caution as Pi Network moves towards its Open Mainnet. This follows OM’s price decrease of over 90%, leading to significant market capitalization losses.
Despite the warnings, some community members remain optimistic about Pi Network’s potential, highlighting its growing ecosystem and innovative infrastructure. However, concerns regarding market manipulation and centralized risks persist, leading to calls for users to withdraw coins to mitigate price instability.
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