The cryptocurrency world was left in shock when the Mantra (OM) token, native to the Mantra blockchain, plummeted by 95% in just a few hours, wiping out billions in value almost overnight. Mantra, a project that aimed to bring real-world assets like land and houses to the blockchain, had once been considered a trusted player, ranking among the top 25 cryptocurrencies by market cap. However, its rapid fall has sent ripples across the crypto space, raising concerns about the volatility of similar projects, including the Pi Network.
OM Token’s Devastating Fall
OM’s crash was swift and brutal. Within an hour, its price collapsed from $6.10 to a mere $0.38, erasing over $6 billion in value. The sudden drop left many investors reeling, with some reportedly losing their life savings. This shocking event has put the spotlight on the risks inherent in cryptocurrency projects and the importance of security and transparency.
A Wake-Up Call for Pi Network
Popular crypto analyst Dr. Altcoin has sounded the alarm, urging the Pi Core Team (PCT) to learn from the Mantra debacle. Dr. Altcoin emphasized that as Pi Network prepares to transition from its Open Network phase to the Open Mainnet, the team must prioritize safety measures and be more transparent with their community.
“Before this transition, Pi Network needs to accelerate its development of protective mechanisms, have clear rules, and communicate openly,” Dr. Altcoin warned. This advice comes as Pi Network’s transition to the mainnet marks a critical milestone, increasing the pressure to ensure stability and reliability.
The $OM incident is a wake-up call for the entire crypto industry—proof that stricter regulations are urgently needed. It also serves as a HUGE lesson for the Pi Core Team as we transition from the Open Network to the Open Mainnet. @PiCoreTeam @nkokkalis @Chengdiao pic.twitter.com/zBN4LSsONN
— Dr Altcoin (@Dr_Picoin) April 14, 2025
Mixed Reactions from the Pi Community
Following Dr. Altcoin’s warning, the Pi community has had mixed reactions. Some users agreed with the cautionary advice, while others defended the Pi team, emphasizing their commitment to building real value slowly and steadily. Despite some concerns about the team’s recent silence, many believe that the Pi Core Team is working diligently behind the scenes and will address the community when the time is right.
The Mantra OM crash serves as a crucial reminder of the volatility within the crypto space, urging projects like Pi Network to prioritize security and communication as they navigate their development.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
Also Read: MANTRA (OM) Crashes 90%: Is It the Next LUNA Collapse or Will It Recover?
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