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After a -90% Dump, MANTRA(OM) Finds Support!!!Today, I want to analyze the MANTRA ( BINANCE:OMUSDT ) projec t for you, which fell by more than -90% on April 13 . What is MANTRA(OM)? MANTRA (OM) is a DeFi + RWA (Real World Assets) focused project aiming to bring real-world assets like real estate and bonds on-chain. Built with the Cosmos SDK, it’s developing a purpose-built layer-1 chain to facilitate tokenization and institutional adoption of RWAs. The main crash reasons: Massive forced liquidations on exchanges 90% of the token supply reportedly held in a single wallet Rumors of a rug pull (which the team denied) Team Response: MANTRA’s team has launched an internal investigation Plans for buybacks and token burns are underway They reassured the community that team tokens remain locked and untouched ----------------------------------- Technical Analysis: Now let's take a look at the MANTRA(OM) chart on the 1-hour timeframe . After the fall on April 13, MANTRA(OM) reacted to the Heavy Support zone($0.45-$0.20) and started to rise again (upward correction) . From the perspective of Elliott Wave theory , MANTRA(OM)'s big fall can be considered as a main wave 3 , and it seems that MANTRA(OM) is completing a main wave 4 . The main wave 4 could be a Double Three Correction(WXY) . Since the momentum of the main wave 3 was high, there is a possibility that main wave 5 will be a Truncated type . I expect MANTRA(OM) to start rising from the Potential Reversal Zone(PRZ) and rise to at least $0.76(+30%) ( First Target ) and then attack the Resistance zone($1.10-$0.84) ( Second Target(+60%) ). Do you think the MANTRA(OM) project can return to its good days? Note: If the MANTRA(OM) falls below $0.500(Round Number), we can expect further declines. Please respect each other's ideas and express them politely if you agree or disagree. MANTRA Analyze (OMUSDT), 1-hour time frame. Be sure to follow the updated ideas. Do not forget to put a Stop loss for your positions (For every position you want to open). Please follow your strategy and updates; this is just my Idea, and I will gladly see your ideas in this post. Please do not forget the ✅' like '✅ button 🙏😊 & Share it with your friends; thanks, and Trade safe.
Long
by pejman_zwin
21
Breaking: MANTRA coin ($OM) Nosedived Nearly 100% Today MANTRA, a Security first RWA Layer 1 Blockchain, capable of adherence and enforcement of real world regulatory requirements that is Built for Institutions and Developers, offering a Permissionless Blockchain for Permissioned applications saw its native token Mantra Coin ( CRYPTOCAP:OM ) plummeted 94% today amidst falling out of a bearish symmetrical triangle. The bloodbath came as a shock as days ago it was sitting on a market cap of $6 Billion and major deals were iterated, including a $1 Billion tokenization pact with DAMAC. However, the main trigger was an allegedly suspicious 3.9M CRYPTOCAP:OM deposited (linked to team wallets) to OKX, fueling sell-off fears. Key Allegations Team controls ~90% supply – raising manipulation concerns. Undisclosed OTC deals – tokens reportedly sold at 50% discounts. Exchange liquidations – forced closures worsened the crash. However, Binance CEO Said: "OM CRYPTOCAP:OM 90% price crash was due to massive cross-exchange liquidations, tokenomics changes, and large token dumps". In response to an X post, the Mantra team said: "we want to assure you that MANTRA is fundamentally strong. Today’s activity was triggered by reckless liquidations, not anything to do with the project. One thing we want to be clear on: this was not our team. We are looking into it and will share more details about what happened as soon as we can." Technical Outlook As of the time of writing, CRYPTOCAP:OM is down 28.6% according to the 4 hour price chart. the asset is showing signs of a reversal but the diamond hands are weak prior the extreme token sell-off as hinted by the RSI at 11.51, this is extremely oversold with a possible reversal lurking around the corner, should the team figure out the cause of the bloodbath, CRYPTOCAP:OM might reclaim $1 zone and then possibly the $5 price point. With the market cap presently $697 million, CRYPTOCAP:OM has enough strength for a bounce back after the mainstream crypto market might have digest the news. MANTRA Price Live Data The live MANTRA price today is $0.719974 USD with a 24-hour trading volume of $2,499,155,492 USD. MANTRA is down 88.55% in the last 24 hours. The current CoinMarketCap ranking is #81, with a live market cap of $697,898,136 USD. It has a circulating supply of 969,337,399 OM coins and the max. supply is not available.
Long
by DEXWireNews
MANTRA and DAMAC to Tokenize $1 Billion in Real-World AssetsIn a groundbreaking collaboration, blockchain company MANTRA has partnered with UAE-based property conglomerate DAMAC to tokenize over $1 billion worth of real-world assets (RWA). This ambitious initiative highlights the growing trend of blockchain adoption for streamlining traditional investment processes and enhancing accessibility for investors globally. Partnership Insights MANTRA, a layer-1 blockchain designed specifically for tokenized real-world assets, is set to transform DAMAC’s extensive portfolio, which spans real estate development, hospitality, and data centers. By leveraging blockchain technology, this partnership aims to: - Streamline Investments: Tokenization simplifies traditional investment mechanisms, offering faster settlements and broader accessibility. - Enhance Transparency: Investors gain access to a secure and transparent method of participating in diverse financial opportunities. - Expand Market Accessibility: Both retail and institutional investors can explore DAMAC’s portfolio with unprecedented ease. The specifics of which DAMAC properties will be tokenized are expected to be disclosed in the coming weeks, with offerings slated to begin in early 2025. This marks a pivotal step in integrating blockchain technology into mainstream industries, aligning with DAMAC’s history of embracing innovation—from accepting cryptocurrency payments in Bitcoin (BTC) and Ethereum (ETH) to planning a $20 billion investment in U.S. data centers. Tokenization’s potential is immense, with industry projections estimating the RWA market could grow to trillions of dollars by the end of this decade. Reports from McKinsey, BCG, 21Shares, and Bernstein underscore the transformative potential of this technology, with significant efficiency gains and expanded investment opportunities. MANTRA’s Strategic Growth MANTRA’s focus on the Middle East region underscores its commitment to revolutionizing traditional financial systems. Earlier this year, it announced plans to tokenize $500 million worth of assets for Dubai-based real estate developer MAG Group. The network’s mainnet launch in October and subsequent native token ( NASDAQ:OM ) growth further solidify its position as a leader in blockchain innovation. NASDAQ:OM has experienced a remarkable 200% market capitalization growth over the past three months, now standing at $3.6 billion according to CoinGecko. This growth reflects increasing investor confidence in MANTRA’s capabilities and vision. Technical Analysis of NASDAQ:OM As of this writing, NASDAQ:OM is trading at a slight decline of 1.34%, forming a symmetrical triangle pattern. This technical setup is often indicative of a potential breakout in either direction: - Bullish Scenario: A breakout above the upper trendline could trigger a significant rally, pushing NASDAQ:OM to new highs. - Bearish Scenario: Conversely, a breakdown below the lower trendline could lead to a selling spree, with prices potentially retesting lower support levels. The confined trading range highlights the importance of closely monitoring price movements for any decisive action. Traders should look for increased volume and momentum as potential confirmation signals for a breakout or breakdown. Broader Implications This partnership between MANTRA and DAMAC is more than just a business deal; it is a testament to the growing adoption of blockchain in traditional industries. By tokenizing real-world assets, the collaboration aims to: - Democratize investment opportunities for a global audience. - Enhance operational efficiencies across industries. - Cement the UAE’s position as a leader in blockchain and crypto innovation. Conclusion The MANTRA-DAMAC collaboration represents a bold step forward in the tokenization of real-world assets. With a solid foundation in both technical and fundamental aspects, NASDAQ:OM is poised for substantial growth, making it a token to watch in the coming months. As the blockchain ecosystem continues to mature, this partnership could set the stage for broader adoption of tokenized investments worldwide.
Long
by DEXWireNews
OMUSD Breaking out. Catch it if you can!Mantra (OMUSD) broke today above the top of its Rectangle, which has been the pattern it consolidated in since late March. The recent low of May 30 was supported just above the 1D MA100 (green trend-line) and that initiated the current rebound. This is not very different than the March 04 break-out, which after holding its 0.5 Fibonacci retracement level, it started an aggressive rally towards the 5.0 Fibonacci extension, registering a +360% rise. This gives us our current Target at 2.800. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CLong
by TradingShot