Mantra token price collapses by over 90% in 24 hours

The price of the Mantra ( OM ) token, the native cryptocurrency of the Mantra real-world tokenized asset blockchain, has collapsed by over 90% in the last 24 hours. On April 13, Mantra fell from a price of approximately $6.3 to below $0.50 and shed over 90% of its $6 billion market cap. Mantra token market cap and overview. Source: CoinGecko Traders are characterizing the token collapse as an apparent rug pull. Market investor Gordon wrote : “[The] team needs to address this or OM looks like it could head to zero. Biggest rug pull since LUNA/FTX?” This is a developing story, and further information will be added as it becomes available.

Source: CoinTelegraph