Mantra price plummets: What happened to the real-world asset token?

Mantra, known as the second real-world asset token after Chainlink, nosedived over 90% over the past 24 hours. Here’s what we know. Source: CoinGecko Just a couple of days ago, Mantra ( OM ) touted a 640% gain in 12 months. At last check, its $6-billion market cap fell to about $485 million. Patrick Mullin, Mantra’s CEO, recently spoke to crypto.news about being a fully compliant, end-to-end ecosystem for RWA tokenization and trading. The company, fresh from securing a VASP license from Dubai’s VARA, had plans to legally operate as a virtual asset exchange. Its unclear whether the recent downtrend will stymie those plans. MANTRA Ecosystem Fund A newly launched fund has been established to support RWA and DeFi projects globally for over four years. The company, which offers OM-token grants and capital investments, remained focused on lending/borrowing, trading, asset management, derivatives, and infrastructure. Mantra also inked a $1-billion tokenization deal with DAMAC Group, covering real estate, hospitality, data centers. This is a developing story. Stay tuned for more coverage. Read more: Ripple, Hidden Road deal exemplifies crypto’s TradFi takeover: Coin Bureau CEO

Source: crypto.news