The OM token price has surged after founder JP Mullin announced plans for a massive token burn. Mullin intends to burn his personal team token allocation and implement a comprehensive burn program for other parts of the OM supply. This announcement caused the OM token to jump from a low of $0.5115 to as high as $0.8706. The token had previously experienced a major price drop, with a decrease of 87.0% over the past week. CoinGape has released a Mantra OM price prediction for April 2025, offering some insights into the token’s potential performance this month.
Mantra had initially set aside 300 million OM tokens for its team and core contributors, which accounted for 16.88% of the total supply of nearly 1.78 billion tokens. These tokens were locked and scheduled for a phased release between April 2027 and October 2029. Mullin’s announcement of burning his team tokens and implementing a burn program for other parts of the supply could potentially remove a significant quantity of tokens from the market. A decentralized vote could determine whether the entire 300 million team token issuance should be burned, as suggested by Mullin.
The announcement of the token burn has elicited various reactions from the Mantra community. Some members view Mullin’s commitment as a positive development for token valuation, while others express concerns about potential long-term issues. Ran Neuner, founder of Crypto Banter, cautioned against burning the incentive, stating that it could impact team motivation in the long run. Despite the positive reception from some community members, the project is currently facing challenges, with allegations of holding 90% of the OM token supply, market manipulation, and insider trading being refuted by Mantra.
Mantra clarified that the recent price drop of OM was a result of reckless liquidations and not the team’s actions. The token’s value has declined by nearly 90% over the past month, with major exchanges such as OKX and Binance experiencing significant trading activity before the collapse. Both exchanges denied any wrongdoing related to the price crash, attributing it to tokenomics adjustments made in October 2024 and abnormal market volatility leading to high-volume cross-exchange liquidations on April 13. Despite the challenges faced by the project, Mullin’s token burn announcement has sparked hope among some members of the Mantra community, indicating a potential positive trajectory for the OM token.
