On April 14, the OM token experienced a sharp price drop of 92%, raising concerns among its holders and prompting the MANTRA team to conduct an analysis.
Reasons Behind OM Token's Price Drop
The price drop of the OM token occurred on April 13 at 18:28 UTC, unexpectedly catching token holders off guard. This decline was attributed to forced liquidations and low trading volume, leading to unprecedented consequences.
MANTRA's Measures for Market Stabilization
In response to the price drop, MANTRA initiated an investigation to determine the causes of the decline and to confirm the current circulating supply of OM tokens. These actions are aimed at alleviating community concerns and reinforcing market stability.
Ensuring Transparency for Token Holders
In light of the situation, MANTRA announced plans for a token buyback and burn initiative to support holders and restore confidence in the token.
MANTRA's investigation and the measures taken may assist the OM token community in coping with the aftermath of the recent price drop and contribute to greater market stability in the future.
