MANTRA Rockets Back as Crypto Bull Run Heats Up
Real-world asset (RWA) tokenization-focused Layer 1 blockchain MANTRA (OM) seems to be recovering after a severe crash in April. The token is one of the top daily gainers, having gone up 31.39% in the last day. Strong trading activity is also evidenced by the trade volume, which has surpassed $1.32 billion.
After a turbulent period, the rebound has placed OM as one of the top trending currencies and the second-highest daily gainer on CoinGecko. This indicates a return of investor confidence. Additionally, it coincides with a larger bull run that has seen numerous coins hit all-time highs.
Can MANTRA Finally Recover After a 90% Crash and Insider Dumping Scandal?
The 90% price collapse of OM was covered in April. In addition to erasing more than $5.5 billion in market capitalization, the fall led to accusations of insider dumping. To regain trust, the MANTRA team planned a burn of OM tokens in response.
The action did not, however, completely allay market skepticism, and the decline persisted, dragging OM to its lowest points since early 2024. Although they caused short-lived spikes, the asset’s listings on Upbit in May and Bithumb in July were unable to stop the downward trend. However, new data points to a possible improvement. OM has recovered from its three-month slump, according to the data.
Market Optimism Grows Around OM, but Can It Sustain This Rally?
The market is feeling optimistic despite this price spike. A number of observers think OM can keep growing. Others, meanwhile, think that the price can return to $1. Token Sherpa, a pseudonymous analyst, described $0.50 as the next psychological level for OM in a recent X post.
The next big target, according to the analyst, is $1 or higher, which would be a noteworthy milestone if the upward momentum continues over $0.50. MANTRA’s capacity to maintain these gains and climb further will be crucial in deciding if this bounce is a long-term recovery or just another short-lived spike.
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