Major digital currency exchanges like Binance and OKX reacted to the recent drop in Mantra token (OM) price. Binance stated that the price drop was due to automatic closing of trading positions across various exchanges simultaneously. Since January 2025, Binance had issued a warning for OM cash transactions. The market value of OM decreased from $6 billion to $764 million, resulting in a 91% price drop. OKX CEO called this event a major disaster for the digital currency industry. Data shows that 127 million OM tokens were withdrawn from Binance and 70 million were deposited into OKX. Mantra CEO claimed that the price drop was due to forced selling by centralized exchanges, but analysts disagree, believing that the selling originated from Mantra team’s wallet.
