Crypto MANTRA Price Continues to Fall Despite 150 Million $OM Tokens Burned Following Collapse

• OM Token Burn Reduces MANTRA Chain Supply
• CEO eliminates 150 million OM after market crash
• Project evaluates new reduction totaling 300 million OM

MANTRA CEO John Patrick Mullin announced the permanent burning of its personal allocation of 150 million OM tokens, a move aimed at restoring community confidence following a sharp drop in the asset’s value. At the time of publication, the price of MANTRA (OM) was trading at $52, down 5% in the last 24 hours.

The decision to burn comes in the wake of a collapse in the price of the OM token on April 13, when it lost more than 90% of its value in just one hour. The drop was attributed to a movement of 40 million tokens to the OKEx exchange, linked to an address associated with the project’s internal core. The episode generated severe market instability and forced liquidations, affecting the entire user base.

Since the launch of the MANTRA Chain network in October 2024, these tokens have been used to ensure the security of the blockchain. The deactivation process began this week and will be completed by April 29, when the tokens will be sent to an irreversible burn address, as reported by the team.

@jp_mullin888 CEO and Founder is burning his allocation of team tokens. For more and why, read on. https://t.co/Ttll5gPj3S pic.twitter.com/QpmqkNB6Jy

— MANTRA | Tokenizing RWAs (@MANTRA_Chain) April 21, 2025

In addition to the ongoing burn, MANTRA leadership is in talks with partners to remove an additional 150 million tokens from the total supply. If the proposal is executed, the maximum supply will be reduced from 1,82 billion to 1,52 billion OM.

This reduction will directly impact the project’s staking structure. The network’s staking rate will drop from 31,47% to 25,30%, increasing returns for participants who remain active in the delegation system.

The initiative follows a trend observed in other cryptocurrency projects that seek to rebalance tokenomics and demonstrate commitment to the community through controlled deflation actions. According to MANTRA, the entire operation will be publicly documented and auditable.

Burn transaction identifiers are available for reference on blockchain explorers, reinforcing the commitment to transparency and allowing independent verification by the community and investors.