The Altcoin, Whose Price Collapsed by 90 Percent, Came to Life with the Founder's "Burning and Autopsy" Sharing! - Coin Newsletter

As the MANTRA (OM) token rebounded from the weekend's crash, co-founder Mullin announced that he would share a report explaining what happened and launch a buyback and supply burn program to restore confidence.

The MANTRA (OM) token surged over 50% on Tuesday after suffering a massive loss over the weekend. This sudden crash in the token's price has sparked major concerns among investors. However, project co-founder John Patrick Mullin has shared a "post-mortem (otopsi)**" report on the events that led to this catastrophic downfall, revealing that they will clarify the situation.

MANTRA's token lost more than 90% of its value on Sunday, falling from $6.30 to $0.52. This decline has sent many investors into a panic and raised questions about the project's reliability. However, on Tuesday, the MANTRA token rebounded and rose to a high of $0.82. This meant an increase of over 50% on the day. However, this increase did not provide enough relief for investors, who suffered large losses on Sunday.

Project co-founder John Patrick Mullin, in his statements on social media, stated that they have prepared a detailed report on what happened and that they will share it with investors shortly. "We will release a **post-mortem report" detailing the events that took place within 24 hours," Mullin said. We believe that the truth is on our side, and everything that happens can be verified with on-chain and off-chain data."

MANTRA received serious criticism of the project after its decline over the weekend. The project explained that the collapse was caused by "liquidations with low liquidity". However, some investors described this as manipulation. Notably, Laser Digital, a subsidiary of the Japanese financial institution Nomura, which invested in MANTRA in 2024, denied the allegations of large investments and investor sales made by the project.

On the other hand, there were also claims that a large part of MANTRA's token was under the control of the project and that it was used to manipulate the price. Despite these allegations, John Patrick Mullin denied the accusations, saying, "These are completely unfounded."

Plans going forward: Buyback and supply burn program

Following the "post-mortem" report, Mullin also announced that they will launch a token buyback program and a supply burn program to rebuild the confidence of the market. The goal of these programs is to reassure investors about the long-term value and reliability of MANTRA by reducing the supply in the market. These steps are aimed at ensuring that MANTRA has a more solid footing in the market.