The Mantra, known as the second real active token after Chainlink, has deposited more than 90% in the last 24 hours.
Here’s what we know.
Barely a few days ago, Mantra (OM) praised a gain of 640% in 12 months. At the last check, its market capitalization of $ 6 billion fell to around $ 485 million.
Patrick Mullin, CEO of Mantra, recently spoke to Crypto.News to be an end -to -end ecosystem fully in accordance with tokenization and RWA trading. The company, fresh to obtain a VARA de Dubai VARA license, intended to operate legally as an exchange of virtual assets.
We do not know if the recent downward trend obstructs these plans.
Mantra ecosystem fund
The newly launched Mantra fund, MEF, has been created to support RWA and DEFI projects worldwide for more than four years.
The company, which offers OM-Token subsidies and capital investments, has been focused on loans / loans, trade, asset management, derivatives and infrastructure.
Mantra also signed a tokenization agreement of $ 1 billion with the Damac group, covering real estate, hospitality, data centers.
The company had several initiatives underway, but the Crypto X community was quick to highlight several developments which they have perceived as issues.
A research analyst known as Choze compared the free fall of Mantra to the collapse of May 2022 of the terra.
“Welcome to Terra Luna V.2,” tweeted Choze at more than 20,000 subscribers.
“For those who wonder, the $ OM team threw all their allowance,” added Choze. “This represents 90% of the total supply in circulation, they also removed the group of official Mantra telegrams. Just like that, $ 3.5 billion in market capitalization have disappeared. ”
Trimbot, which describes itself as a Rwa bull, exploded the mantra as a “pure market manipulation”.
Crypto.News tried to contact a spokesperson for Mantra via his website, but did not succeed. It was not clear if the startup web page was down or not accepting media requests.
More on MEF
“With the MEF, we don’t only write checks – we build a strategic ramp for the next wave of innovation blockchain,” Mullin said in a statement prepared earlier this month.
“This fund will serve as a growth engine, giving founders access to capital, infrastructure and a deep regulatory support network,” he added.
The MEF is supported by a global coalition of capital partners, including Digital Laser, Shorooq Partners, Brevan Howard Digital, Valor Capital, Three Point Capital, Amber Group, Manifold, UOB Venture, Damac, Fuse, LVNA Capital and Forte.
Crypto.News tried to reach a capital of three points but was unable to submit an investigation.
It is a story in development. Stay listening for more coverage.
