The sudden collapse of the MANTRA (OM) token has sent shockwaves through the cryptocurrency community, leaving many investors grappling with significant financial losses. As industry analysts delve deeper into the reasons behind this dramatic decline, numerous questions remain unanswered. To shed light on the situation, BeInCrypto sought input from several industry experts who identified five critical warning signs that may have contributed to MANTRA's downfall and offered strategies for investors to avoid similar pitfalls in the future.

On April 13, BeInCrypto reported that the OM token experienced a staggering 90% price crash. This event sparked widespread concern among investors, who accused the project team of orchestrating a pump-and-dump scheme. Industry experts concur that there were early indications of potential trouble, yet many investors overlooked these red flags.

In 2024, following a community vote in October, the MANTRA team decided to alter the tokenomics of the OM token. The token transitioned from being an ERC20 token to becoming the native L1 staking coin for the MANTRA Chain. Concurrently, the project adopted an inflationary tokenomic model with an uncapped supply, replacing the previous hard cap. During this shift, the total token supply was increased to 1.7 billion.

Jean Rausis, co-founder of SMARDEX, expressed concerns about the tokenomics adjustments, pointing out that they were a significant factor in the OM collapse. Furthermore, the team's control over the OM supply raised concerns about centralization, which experts suggest could have facilitated alleged price manipulation. Phil Fogel acknowledged that a concentrated token supply does not inherently signal a problem, but it is vital for investors to understand who holds large portions of the token, their lock-up terms, and whether their participation aligns with the project's decentralization goals. Ming Wu, founder of RabbitX, emphasized the importance of scrutinizing this data to identify potential long-term risks.

2025 has been marked by heightened market volatility, largely driven by broader macroeconomic pressures. Most cryptocurrencies have faced substantial losses, yet OM's price remained relatively stable until the recent crash. Experts argue that this stability was a clear indicator of a potential underlying issue with the project. Identifying such anomalies typically requires technical analysis expertise, making it challenging for less informed investors to detect.

Despite this, Rausis noted that even non-experts could observe other signs suggesting trouble, ultimately culminating in the crash. While investors maintained optimism about OM's resilience amidst market downturns, this misplaced confidence cost them millions. Eric He, LBank's Community Angel Officer and Risk Control Adviser, underscored the significance of proactive risk management to prevent similar collapses. Ming Wu echoed this view, emphasizing the importance of avoiding over-allocation to a single token. Diversification, he explained, helps mitigate risk and stabilizes overall portfolio performance.

Phil Fogel advised investors to focus on a token's liquidity, considering factors like float size, price sensitivity to sell orders, and entities capable of significantly influencing the market. Additionally, experts highlighted notable inconsistencies in MANTRA's Total Value Locked (TVL). Eric He pointed out a considerable disparity between the token's fully diluted valuation (FDV) and TVL. OM's FDV reached $9.5 billion, whereas its TVL stood at only $13 million, suggesting potential overvaluation.

Concerns were also raised regarding the airdrop process. Jean Rausis described the airdrop as problematic, citing delays, frequent rule modifications, and the disqualification of half the participants. Moreover, suspected bots remained active. Phil Fogel further criticized the team's alleged affiliations with dubious entities and connections to questionable initial coin offerings (ICOs), casting doubt on the project's credibility. Eric He suggested that MANTRA had historical ties to gambling platforms.

Forest Bai underscored the importance of verifying the project team's credentials, reviewing the project roadmap, and monitoring on-chain activity to ensure transparency. He also recommended evaluating community engagement and regulatory compliance to assess the project's long-term viability. Ming Wu emphasized distinguishing between genuine growth and artificially inflated metrics. He also urged investors to research the backgrounds of the project's team members to uncover any history of fraudulent activity or involvement in questionable ventures.

Following the crash, MANTRA CEO JP Mullin quickly attributed the collapse to centralized exchanges (CEXs), claiming that \"reckless forced closures\" during low-liquidity hours triggered the crash, either due to negligence or intentional positioning. Binance countered by pointing to cross-exchange liquidations. Interestingly, experts were somewhat divided on the role of CEXs in the crash. Forest Bai argued that CEX liquidations during low-liquidity periods exacerbated the crash by triggering cascading sell-offs, a view supported by Eric He. Ming Wu, however, dismissed Mullin's explanation as an excuse, suggesting that it contradicts the notion that liquidations or forced closures caused the price drop. Instead, he indicated that traders and investors likely increased their short positions as prices fell.

While the extent of CEX involvement remains debated, the experts agreed on the critical issue of investor protection. Eric He advised reducing leverage dynamically based on volatility indicators like ATR or Bollinger Bands. He also recommended avoiding trades during low-liquidity periods, such as midnight UTC, when slippage risks are highest.

The collapse of MANTRA (OM) serves as a stark reminder of the importance of thorough due diligence and risk management in cryptocurrency investments. By carefully evaluating tokenomics, monitoring on-chain data, and diversifying investments, investors can minimize the risk of encountering similar pitfalls. With expert guidance, these strategies can empower investors to make wiser, safer decisions in the crypto market.

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