Mantra CEO John Patrick Mullin announced plans to burn all his vested team tokens after the OM token plummeted 90% in an hour, erasing billions in market cap. Mullin denied project involvement, blaming ‘reckless liquidations’ on a centralized exchange. However, concerns arose over OTC deals and buybacks, with crypto investigator Coffeezilla alleging price manipulation. Mullin defended the buybacks as market support, not pumping, while Mantra emphasized its focus on compliant real-world asset tokenization. The token, once a top 25 crypto, has now fallen out of the top 100.
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Dubai’s VARA Grants VASP License to Mantra for DeFi Services
Mantra, a layer-1 blockchain focused on real-world asset tokenization, has become the first DeFi platform to secure a virtual asset service provider (VASP) license from Dubai’s VARA. This license allows Mantra to offer exchange, broker-dealer, and investment services, marking a significant step in its global expansion.The UAE is positioning itself as a global blockchain hub, attracting startups and established companies alike. Mantra’s recent partnerships, including a $1 billion agreement with Damac Group, aim to enhance token-based financing across various sectors, further integrating tokenized assets into the region’s financial ecosystem.
read moreCryptocurrencies to Watch This Week Amid Market Developments and Challenges
The cryptocurrency market is currently experiencing a downturn despite positive developments, including the SEC dropping cases against Coinbase and Robinhood. Mantra, a blockchain network focused on tokenizing real-world assets, has secured a VASP license in Dubai and is set to tokenize $1 billion in assets with DAMAC Group. Its token, OM, has risen 8% to $8.04. Solana faces challenges as Wintermute withdrew nearly $40 million from Binance, causing a 16% decline to $152. Meanwhile, Bittensor, which aims to decentralize AI, has gained traction after being listed on Coinbase, with its token TAO rising 18% to $433.
read moreMantra OM Price Predictions Amid Market Volatility and Overbought Signals
Analysts predict that Mantra (OM) could reach between $10 and $15, with some calling it the “king of RWAs.” Despite a recent all-time high of over $6 and a staggering 3,500% yearly increase, the Relative Strength Index (RSI) indicates a potential short-term correction as it has entered overbought territory.
read moreLitecoin and Mantra Show Potential for Further Gains Amid Market Optimism
Litecoin and Mantra have seen significant gains this week, driven by Bitcoin’s recovery from a flash crash and the anticipation of a spot Litecoin ETF approval by the SEC. Technical and on-chain analyses suggest further upward momentum for both altcoins, with traders advised to consider profit-taking strategies. The partnership between Mantra and DAMAC Group for asset tokenization is also a notable market mover, highlighting the growing relevance of the RWA industry.
read moreMantra Token Surges to New High Following Major Partnership Announcement
Mantra (OM) surged over 40% to a new all-time high of $5.87, driven by a $1 billion tokenization deal with DAMAC Group, focusing on real estate assets in Dubai. With a market cap of $5.35 billion and a 214% spike in daily volume, OM ranks among the top performers in the crypto market. Meanwhile, the tokenization space is gaining traction, with significant developments in private credit funds and broader asset tokenization initiatives.
read moreCryptocurrency Market Update Bitcoin Ether Solana and Mantra Performance Analysis
Bitcoin’s recent surge follows political developments, while Ether and Solana experience declines, reflecting Bitcoin’s influence on the market. Mantra’s native token, OM, has risen 21% after a $1 billion asset tokenization deal with DAMAC Group, showcasing the growing intersection of traditional finance and blockchain. Jupiter, a Solana-based exchange, has seen an 8.6% increase following a significant token burn.
read moreEmerging Cryptocurrencies to Watch as Traditional Finance Embraces Blockchain
Coinbase CEO Brian Armstrong highlights a surge in traditional finance (TradFi) firms exploring cryptocurrency investments, driven by initiatives like Donald Trump’s US Bitcoin strategic reserve. Promising low-cap coins such as Wall Street Pepe ($WEPE), Solaxy ($SOLX), and Mind of Pepe ($MIND) are gaining traction, offering unique incentives and staking rewards. As the crypto landscape evolves, projects with real utility are expected to thrive, emphasizing the importance of thorough research in this volatile market.
read moreCrypto Market Plummets as Dogecoin and Ripple Experience Significant Losses
Dogecoin and Ripple plunged 11% as bullish crypto liquidations exceeded $770 million, with Bitcoin falling below $100,000. Major cryptocurrencies like Solana and Ethereum also saw significant losses, contributing to an overall market cap decline of 8.5%. The volatility led to substantial liquidations, indicating a potential price correction, while traders are left to navigate the shifting market sentiment.
read moreEnel Group Launches Solar Panel Tokenization on Algorand Blockchain in Italy
Enel Group has partnered with Conio to launch a solar panel tokenization initiative on the Algorand blockchain, enabling fractional ownership of solar farms in Italy. This innovative product allows residents to offset their electricity usage by owning a portion of solar panels managed by Enel, regardless of their location. The initiative highlights the potential of tokenized markets to enhance energy accessibility and sustainability.
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