Bitcoin (BTC) Price It tests 87 thousand dollars again, but for the permanent rise, the $ 92 thousand threshold must be taken back. In subcoins There is recovery, albeit weak. Falling more than 90 percent last week OM COIN has shared a new announcement to date. The signals of the token burning announcement were previously given by the team and had no effect on the price.
OM COIN TOKEN BURNING
Mantra (OM) Huge sales experienced a decrease of more than 90 %within hours under the influence of shallow liquidity and liquidations. After that, the person at the beginning of the team has just woke up and drew more reactions by sharing in the style of investigating what happened. After that the team did not sell large positions, saying that the liquidation of $ 0.4 to 0.4 dollars, he claimed that the price was not responsible.
Today, the official token burning announcement came. CEO, which has recently announced that there is a study in this direction to improve the price, said the details will be announced in the coming days.
In a recent announcement, John Patrick Mullin’s 150 million team token was announced.
“Today MantraCEO and founder John Patrick Mullin’in announced that 150 million team tokens burned. This burning process was a commitment to the community last week. In order to rebuild the trust and to focus on creating a reliable, accessible and inclusive financial ecosystem offered through toketing.
Team and core participant tokens were stacted in October 2024 in the formation of mainnet in order to ensure network safety. The process of removing 150 million token from the Team and Core Contributor bucket has now begun. Can be verified by means of the following process mix;
Ce0e166ded4f267b22f16d011a7f511ffddb4aadb31a2fe6a0e6e81690e339aa
DFB6C3DDFFDC09B9B2A16175401D8B7DB81C79C774203E17859694FA9D8C79C5
7D056D17F2A57A27E807FB9F12E739B24306FC7B8B651B27622222C18EFD5D
The overhaul period will be completed on 29 April 2025. When this process is completed, all tokens will be sent directly to the burning address: mantra1qqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqqet.
These tokens will be permanently removed and the total supply will be reduced in the same amount, 150 million oms.
In addition, the mantra continues to negotiate with the key ecosystem partners to apply 150 million OM token burning process to increase the total amount of burning to 300 million oms. ”
OM COIN PRICE
After the announcement, the price did not try for $ 0.6, but it could not come out and returned to the $ 0.58 band. The reason for the extreme sales of the first day was that the team’s allegations of abandoning the project were fearing the fear. The reason for the lack of recovery is that the total locked value in the network is extremely low compared to the market value exceeding $ 6 billion is extremely swollen.
After this stage, the team with reassuring new announcements and moves Tvl If it can increase, gradual recovery may be seen at more reasonable prices. The token burning alone is not enough to repair and inflate the balloon that goes out for now.
Responsibility Rejection: The information contained in this article does not contain investment advice. Investors should be aware that crypto currencies carry high volatility and thus risk and carry out their operations in line with their own research.
