OM Surges After MANTRA Announces $25M Buyback
- OM surges in response to the $25M buyback announcement.
- The buyback will retire nearly 10% of OM’s supply.
- MANTRA reinforces trust post-April price crash.
MANTRA’s native token OM surged over 7% after announcing a $25 million buyback on the MANTRA mainnet, amplifying market interest in their governance approach.
The buyback reduces OM’s liquid supply, supports price momentum, and aligns with MANTRA’s bid for institutional-grade regulatory compliance.
MANTRA has initiated a $25M buyback of its OM token, resulting in a surge above $0.25. This move comes after securing $45M in commitments, (including Inveniam’s $20M investment) , indicating strong financial backing.
The buyback, executed via MANTRA AG , aims to withdraw 110M OM, approximately 10% of its circulating supply. CEO John Patrick Mullin emphasized this as a “pivotal moment for MANTRA,” restoring confidence among investors and partners.
The buyback effectively tightens OM’s supply , driving its price upwards by over 7% in short-term trading. This action aligns with broader efforts to support the Real World Asset (RWA) token market segment.
With tokens staked on the MANTRA mainnet, liquid supply decreases, potentially attracting more institutional investors. This also strengthens OM’s role as a governance token, promoting long-term sustainability and market interest.
Experts highlight that buybacks are uncommon among crypto tokens but have demonstrated success in traditional finance. This strategic buyback could potentially stabilize the token’s value, benefiting from past precedents.
The Dubai VASP license reinforces MANTRA’s compliance, facilitating its future growth. Such infrastructural and regulatory upgrades could drive further confidence and adoption within the crypto community.
“This buyback is not only about the immediate financial impact but also about setting the stage for sustained growth and confidence in the future of MANTRA.” — John Patrick Mullin, CEO & Founder, MANTRA
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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