After Mantra’s OM token collapsed 90%, many analysts began pointing to insider promoting. The most recent transfer by Mantra DAO amplified these issues.
Mantra (OM) is transferring extra tokens to alternate wallets, prompting issues over insider promoting. On Monday, April 14, Mantra DAO—the group behind the RWA-focused mission—moved one other $26.96 million in OM tokens to a Binance pockets.
With 90% already dumped in $OM, it looks like the $OM workforce is about to promote extra.
2 hours in the past, the @MANTRA_Chain DAO staked pockets despatched 38M $OM ($26.96M) to #Binance Chilly Pockets.https://t.co/nSttgmuqzg pic.twitter.com/Vsc2q346fC
— Onchain Lens (@OnchainLens) April 14, 2025
The transfer adopted a 90% drop in Mantra’s worth, from the day’s excessive of $6.28 to its present worth of $0.7192. The crash, which worn out over $5 billion in market cap, was blamed by a number of analysts on insider promoting.
Mantra’s OM worth on April 14, exhibiting a significant worth drop | Supply: crypto.information
Notably, the Mantra workforce controls 90% of the OM token provide. On this context, the switch of Mantra DAO funds prompted additional issues of insider promoting.
Mantra CEO claims workforce didn’t dump tokens
In response to the value crash, Mantra’s CEO JP Mullin claimed that the sell-off was not resulting from any token gross sales by the workforce or traders. As an alternative, he blamed compelled liquidations—triggered by centralized exchanges—for the collapse.
He’s contradicted by a number of unbiased analysts who tracked token actions on-chain. As an illustration, crypto analyst Max Brown highlighted that Mantra had moved 3.9 million OM tokens to OKX simply forward of the value crash.
MANTRA CHAIN $OM CRASHED 90% IN AN HOUR AND $5.5 BILLION GOT WIPED OUT.
HERE’S HOW AND WHY IT COULD HAVE POSSIBLY HAPPENED 🧵
IT ALL STARTED YESTERDAY WHEN A POSSIBLE $OM TEAM WALLET DEPOSITED 3.9 MILLION OM TOKENS ON OKX.
IT WAS WELL KNOWN IN THE CRYPTO SPACE THAT OM TEAM… pic.twitter.com/9ZQNw4Yrla
— Max Brown (@MaxBrownBTC) April 13, 2025
Learn extra: Mantra worth plummets: What occurred to the real-world asset token?
It’s vital to notice that after tokens are moved to centralized exchanges, their exercise can’t be simply tracked on-chain. Because of this, unbiased analysts can not definitively show whether or not a sale did or didn’t happen. Nevertheless, exchanges themselves can examine these actions—and in line with main CEXs, investigations are ongoing.
Binance has corroborated the CEO’s clarification. The alternate claimed that its preliminary findings counsel that the crash is probably going resulting from cross-exchange liquidations. However, OKX pointed to “main adjustments” to OM’s tokenomics, in addition to a number of on-chain addresses depositing tokens to centralized exchanges.
Learn extra: EXCLUSIVE: Mantra CEO on the way forward for RWA, ecosystem fund, and future plans
