Mantra (OM) Token Crashes Over 90% in Hours — What’s Going On?

Mantra’s OM token plummeted more than 90% in a matter of hours, triggering mass liquidations worth tens of millions. Rumors of internal conflicts may be behind the panic sell-off.

OM Token Crashes Over 90% in Hours

On April 14, the price of OM—Mantra’s native token—fell from $6.30 to just $0.48, marking a shocking 90% drop in a short period. This unexpected crash left the crypto community stunned.

$28M+ in Liquidations Triggered

According to Odaily Planet News, the crash triggered massive liquidations across leveraged positions—especially long orders.

• Total OM liquidations exceeded $28.61 million in just one hour.

• Long positions made up $28.14 million, while short liquidations were minimal at $0.47 million.

This indicates that the market was heavily skewed toward long bets that got wiped out during the plunge.

Rumors of Internal Conflict Fueling Panic

The root cause of the crash is still unconfirmed, but rumors have circulated across social media suggesting possible internal disputes within the Mantra team.

Allegedly, some key developers or insiders may have exited the project, leading to panic selling by investors. While not officially verified, these rumors appear to have fueled the steep decline in OM’s value.