Mantra CEO's token burn aims to restore confidence following OM's price drop, with additional burns planned for ecosystem support.

Two Layer 1s are gaining momentum again: Solana (SOL) is drawing bullish forecasts with a $143 price target, while Avalanche (AVAX) is showing early signs of recovery after reversing a bearish trend. Both tokens are reclaiming market attention as capital inflows rise and sentiment improves.

Avalanche's AVAX token has broken out of its multi-week correction phase, demonstrating remarkable strength despite ongoing geopolitical tensions affecting cryptocurrency markets.

Mantra founder and CEO John Mullin has begun an $80 million burn of OM tokens to regain users' trust following the token's sudden crash earlier in April. However, the question of the underlying reasons for the OM crash remains unanswered, blockchain investigators told Cointelegraph.Unpacking Mantra's OM crash requires a detailed forensic study rather than just basic blockchain analysis, Natalie Newson, senior blockchain investigator at the blockchain security firm CertiK, said.

The price of Avalanche (AVAX) is currently 20.42 USD, marking a slight daily decline of 0.79%, but with a weekly increase of 2.52%, according to CoinMarketCap data updated as of April 22, 2025. The recent performance of AVAX suggests a phase of consolidation, with contrasting signals between technical corrections and bull cues.

Mullin announced he will burn 150 million OM tokens—his entire allocation—worth approximately $82 million. The move aims to show his long-term commitment to building the real-world asset (RWA) Layer 1 blockchain.

The altcoins have been badly hit in this current bull market. Will Avalanche (AVAX), Toncoin (TON), and Kaspa (KAS) be able to recover?

John Patrick Mullin, the head of the decentralized finance (DeFi) platform Mantra, has started the process of removing 150 million OM OM tokens from circulation.

A whale's recent deposit of over 1.7 million OM to Binance has sparked sell-off fears just as Mantra CEO John Mullin initiates a 150 million token burn.

Mantra CEO burns 150 million OM tokens to restore trust and value after 90% price crash, with plans for additional burns totaling 300 million tokens.

Mantra, the platform specialized in tokenization of real-world assets (RWA), has announced a burn of 300 million OM tokens, equivalent to approximately 16.5% of the total supply, with an estimated value of 160 million dollars. This decision comes at a critical time for the platform, which has seen its token lose 90% of its value in just one day, April 13, with a market capitalization evaporated by over 5 billion dollars. According to the Mantra team, the main cause of the collapse is attributed to irresponsible liquidations by the exchanges, which triggered a bear spiral.

Mantra, the real-world asset tokenization platform whose OM token crashed earlier this month, is pushing to burn as much as 16.5% of its total supply valued about $160 million to boost staking rewards after talks with key partners.

Mantra founder and CEO John Patrick Mullin has started unstaking 150 million of his Mantra (OM) tokens in preparation for sending them to a burn address in an attempt to restore the token's value by tightening supply. Mantra announced on April 21 that the unstaking process had begun, and would be completed by April 29, at which point Mullin's Mantra (OM) tokens will be sent to the burn address and permanently removed from circulating supply.

OM crashed after a $17M whale loss, but signs of recovery might emerge soon.

MANTRA founder and CEO John Patrick Mullin has initiated the burn of his full 150 million OM token allocation, following through on a commitment made last week to bolster transparency and rebuild trust within the community.

The Avalanche ecosystem has grown significantly in the past year backed by institutional investors seeking to tokenize RWAs. AVAX price has already broken out of a multi-week correction phase, amid rising crypto bullish momentum.

South Korea's central bank says it will 'actively participate' in stablecoin legislation development and GSR helps a consumer products firm establish a SOL treasury.

OM price has reacted negatively to MANTRA's new token burn announcement. The team announced a token burn plan that will remove 150 million OM tokens from circulation forever.

TL;DR Mantra will burn 150 million OM tokens belonging to its founder on April 29, aiming to reduce supply and adjust staking rewards. The project is in talks with other ecosystem members to burn an additional 150 million tokens, though there's no confirmed date for this second phase yet.

MANTRA also said it is in talks with ecosystem partners to burn an additional 150 million tokens, bringing the total burn to 16.5% of OM's supply.

MANTRA CEO, JP Mullin, is burning 150 million OM tokens from his own allocation and engaging other ecosystem partners to burn an additional 150 million tokens. This 300 million OM token burn aims to restore investor trust in the project and stabilize the altcoin's price dynamics.

Mantra (OM) will unstake the share of founder John Mullin on April 29, in a bid to recover the market price and reputation.

According to the team, MANTRA CEO and founder John Patrick Mullin is burning his entire 150 million OM token allocation—worth approximately $87 million at current prices—in a bid to restore trust following the token's historic 90% collapse last week. The move comes as OM trades at $0.5832, down 90.4% over the last two weeks.

DeFi protocol MANTRA has begun the process of burning 150 million OM tokens from its team and core contributor allocation.

The crypto market trades in the green today, April 21, with Bitcoin price clinching a three-week high above $87,000, pulling top altcoins up. However, despite the gains, macroeconomic fears still linger due to the ongoing US tariffs, with Japan's recent refusal to concede on all US demands sparking marking anxiety.

Here is how some of your favorite assets concluded the week.

Bitcoin and most cryptocurrencies remained in a tight range last week as investors monitored new developments in trade and the tensions between President Donald Trump and Jerome Powell.

The past week was a rollercoaster ride for the cryptocurrency market. Bitcoin (CRYPTO: BTC), Ethereum (CRYPTO: ETH), XRP (CRYPTO: XRP), and Dogecoin (CRYPTO: DOGE) moved sideways amid tariff uncertainties.

The collapse of the MANTRA (OM) token has left investors reeling, with many facing significant losses. As analysts comb through the causes of the collapse, many questions remain.

The crypto markets have gained some momentum since the start of the week, which has attracted significant buying pressure onto the platform. Bitcoin sticks around $85,000, while Ethereum is trading close to $1600.

Bitcoin (BTC) has been trading in a tight range for a few days, but a minor positive is that the bulls have kept the price above $83,000. Usually, a low volatility period is followed by a range expansion, but it is difficult to predict the direction of the breakout with certainty.Cryptocurrency analysts remain bullish on Bitcoin's prospects because gold's rally in 2017 and 2020 was followed by a sharp rise in Bitcoin's price.

This week in crypto recorded several key events across various ecosystems that will continue shaping the industry.

Mantra's recovery efforts aim to restore investor confidence and stabilize the ecosystem, highlighting the importance of transparency and trust. The post Mantra CEO says team is finalizing burn program details, buyback is well underway appeared first on Crypto Briefing.

Since the beginning of 2025, the Web3 ecosystem has reportedly lost nearly $6 billion to rugpulls, with 92% linked to the Mantra case.

Ava Labs President John Wu discusses Avalanche's accomplishments in bringing TradFi and gaming enterprises onchain.

Mantra's OM token crashed by over 90% on April 13, falling from around $6.30 to under $0.50 in a matter of hours.

The recent OM collapse at MANTRA has left the community confused. In a series of instant drops, $5.5 billion was erased.

Mantra and associated market makers allegedly manipulated liquidity metrics for the OM token by exploiting vulnerabilities in data aggregators' self-reporting systems, according to discussions on the latest edition of “The Chopping Block” podcast. The scheme involved misrepresenting the circulating supply and trading volume of OM to create the appearance of broader market activity than existed.

The CEO and co-founder of the real-world asset (RWA) crypto project Mantra (OM) unveils a plan to bring back community trust following a massive sell-off of the blockchain's token. On Sunday, the value of the OM token plunged from a high of $6.35 to a low of $0.37, representing a huge drop of 94%.

The Mantra team has cleared the air on the collapse, but traders remain cautious on the sidelines awaiting a post-mortem report. The post Can Traders Trust the MANTRA Price Bounce? Post-Mortem Report on Collapse Incoming appeared first on Cryptonews.

The price of Avalanche (AVAX) has halted its fall above the $15 support.

Mantra's OM token collapsed by more than 90% overnight, and the crypto world can't agree on why. On April 13, OM's price plummeted from over $6 to below $0.50, wiping out more than $5 billion in market cap and triggering widespread panic across the crypto industry.The sudden crash drew comparisons to Terra's LUNA implosion as traders scrambled for answers.

The crypto market has been under bearish pressure because of President Trump's tariff policy. The Federal Reserve Chair Jerome Powell has also sparked concerns after his recent remarks revealed that US inflation may also rise because of these tariffs.

Mantra's recent token collapse highlights deeper-rooted issues within the crypto industry around fluctuating liquidity levels, creating additional downside volatility over the weekend, which may have exacerbated the token's crash.The Mantra (OM) token's price collapsed by over 90% on April 13, from roughly $6.30 to below $0.50, triggering market manipulation allegations among disillusioned investors, Cointelegraph reported. While blockchain analysts are still piecing together the reasons behind the OM collapse, the event highlights critical issues for the crypto industry, according to Gracy Chen, the CEO of cryptocurrency exchange Bitget.

The cryptocurrency market is witnessing a split in sentiment after two high-profile events – Mantra OM's collapse and XRP's ETF journey.

Despite a bullish altcoin market, mantra (OM) crashed 90% in 7 days, from ~$6.41 to ~$0.69. Speculation of stealth dumping or forced liquidations due to large pre-crash transfers to exchanges. Analysts cite centralized exchange dominance, thin liquidity, and automated liquidations, not a rug pull. Technical indicators remain bearish with OM below $0.70, low RSI (36.

MANTRA's cataclysmic price collapse on Monday raised immediate red flags about potential insider activity and price manipulation. In response, whales have sold off their holdings, hinting that the most informed wallets are de-risking.

Solana, Cardano, and Avalanche are currently leading the cryptocurrency market losses, with each experiencing drops of over 5% in the past 24 hours.