MANTRA co-founder JP Mullin expressed sincere gratitude to supporters on social media recently in detail. He posted on X (Twitter), sharing heartfelt thanks to partners, investors, and community members.
His message highlighted MANTRA’s enduring resilience and commitment to continue building during challenging market cycles. He urged the community of OM traders to remain patient and trust the team’s transparent recovery plans.
Incident Overview
A massive crash in the OM token’s value occurred recently, causing losses for many prominent traders across multiple regions. The crash, suspected to be linked to an insider sale, wiped almost five billion dollars from market value instantly.
Investors experienced severe losses as the token dropped nearly ninety percent amid intense trading activity globally.
Also Read: CoinMarketCap Warns Users Against Fake Token Promotions Claiming to Be Official CMC Tokens
Response and Future Plans
Mullin reassured the community and deeply thanked all who supported the team during this turbulent period. He explained that a post-mortem report would be published within the next twenty-four hours, revealing all factual details.
The report will detail early events that took place on Monday morning during the APAC trading hours.
Plans include an $OM token buyback and supply burn to restore trust and market stability.
Acknowledgment of Support
Mullin expressed sincere gratitude to long-term investors, including Shorooq Partners and Laser Digital, for continuous support overall.
He promised to share all accurate and timely updates through his account and official channels consistently.
$OM’s Price Actions
This comes a day after a sudden crash that caused a nearly 90% drop in the token’s value among numerous traders. After the crash, the OM token rebounded strongly and is now trading at $0.9024 with impressive gains. Its global market capitalization reached approximately $873.89 million despite a 46.61% drop in trading volume.
The recent turmoil has severely tested MANTRA’s resilience and unwavering commitment to serve its community effectively. The team remains focused on transparency, recovery, and rebuilding trust among traders and long-term supporters.
This challenging period motivates MANTRA to explore new strategies, ensuring long-term growth and stability persist.
Future Outlook
MANTRA’s dedicated leadership is planning innovative measures to regain investor trust and restore market confidence promptly. The team is developing comprehensive recovery strategies that combine technical fixes with community-driven engagement effectively.
Managers believe that transparent communication and proactive measures will strengthen MANTRA’s position during future challenges. Developing a detailed post-mortem report remains a priority to prevent similar issues from occurring again.
The community of OM token traders continues to show remarkable loyalty despite facing significant setbacks recently.