The latest 90% collapse of Mantra ($OM) has triggered market-wide shockwaves, resulting in monumental fears and speculations. Following that, based mostly on the on-chain reviews, Star Xu, the founding father of the well-known crypto trade, has known as for a full-fledged investigation into the Mantra ($OM) crash. The stunning on-chain exercise regarding the $OM token collapse has pushed the neighborhood into panic.

OKX CEO Requires Deep Investigation into Mantra ($OM) Crash

The brand new market knowledge reveals that, earlier than the abrupt collapse of Mantra ($OM), up to seventeen wallets reportedly deposited an enormous 43.6M $OM tokens. Particularly, they transferred up to $227M on this respect to crypto exchanges. Curiously, a few these wallets are reportedly related to Laser Digital, a strategic Mantra investor. As a result of this, the OKX CEO Star Xu has indicated the necessity for a radical investigation into the collapse.

The Mantra ($OM) token reportedly crashed amid the low-liquidity interval on Sunday. Therefore, the token plunged by greater than ninety p.c. The coin touched the bottom price of $0.37 final night time.  After that, in the intervening time, the price of the token stands at $0.7803. This denotes a lower of 87.55% over the previous 24 hours. Equally, the 7-day price efficiency of $OM signifies an 86.95% dip. Furthermore, $OM’s thirty-day price efficiency highlights an 87.96% hunch.

Mantra CEO Nullifies Rumors of Rug Pull

The huge $OM collapse led the neighborhood members to query this abrupt improvement. Holding this in view, JP Mullin (Mantra’s CEO) took to X to nullify the rumors regarding a rug pull. He talked about that the $OM tokens of the Mantra group members are untouched and none of them goes wherever. He additionally assured the web visibility of the pockets addresses, together with sharing the unique token report.

Nevertheless, consistent with the on-chain statistics, there are numerous apprehensions and rumors a few possible rug pull. Thus, the OKX CEO has expressed the requirement for a complete investigation into the matter. Within the meantime, the market onlookers and buyers will preserve a eager eye on the additional price modifications and developments regarding $OM.