Cardano founder Charles Hoskinson responded to recent fallout in OM tokens and repeated Cardano consistency amid concerns of transparency in mantra ecosystems.
The founder of Cardano Mantra token dump was measured xPost. Some thought his experts were thinking about what actually What happened, Hoskinson focused on Cardano's consistency over the years despite widespread criticism.
Hoskinson beats anti-Cardano preacher
According to the tweet, the input and output global CEO appeared to provoke the leading opinion leaders (KOLs) who branded Cardano as “dion chain” or “ghost chain” and promoted the dollar average (DCA) to “the next big thing” like the mantra. He references recent outbreaks as evidence of Cardano consistency.
The Cardano Network is nothing new to widespread criticism. Some comments branded the Layer 1 network into a ghost chain with outdated technology.
One such comment came from the 2021 Coindesk report, which sparked a response from Hoskinson. media explained Cardano as a steamware network with a relevance of decline in the blockchain industry.
Additionally, Raoul Pal, CEO of Macro Investor Global, previously reported. Discussed Cardano is dead and advises cryptic enthusiasts to sell from “cults” such as ADA and XRP to new tokens with better potential. Nevertheless, ecosystems remain generally bullish despite this, and many other such analysts have later rectified their steps to acknowledge Cardano's enormous advances.
The founder of Cardano had this in mind, taunting prominent market players who called on the DCA to the tokens as Mantra backfired.
What happened to the mantra?
Layer 1 Network's Native Token OM was featured in the news over the weekend over transparency issues. This caused the token to crash more than 90%. OM tokens plummeted to $0.37 in a few hours from $6.35 on Sunday. Terra Luna Capitulation 2022.
About crashes
Market participants have made several claims, but the most repeated in their statement was a massive sale due to skepticism from the transparency of the mantra team.
For context, prominent market watcher Gordon said the crash occurred amid speculation that the mantra team had supplied more OM tokens and dumped them, and the holders fled and called attention.
Specifically, research analyst Choze claimed that the team held 90% of the circulating supply of 1.8 billion yen in assets, selling them all, causing a sharp fall in tokens. Additionally, other suspicious events, such as the team removing the project's official telegram handle, contributed to a wipeout of over $6 billion.
Mantra team responds
Meanwhile, through the official X (formerly Twitter) handle, Mantra tried to make things clear. The end of Sunday Tweet He claimed the project was “fundamentally strong,” and it was not rumored that the team had hit investors, but rather that it tied the downside to reckless liquidation.
Mantra Community – I want to ensure that the mantra is fundamentally strong. Today's activities were caused by reckless liquidation, independent of the project. One thing we want to clarify: this was not our team. We're looking into it and share the details…
– Mantra | April 13, 2025, RWAS (@mantra_chain) tokenization
Mantra co-founder JP Mullin has put similar claims on the front. in parallel Tweethe claimed that the team would not sell token allocations, remove official telegram accounts and share wallet addresses to support his claims.
https://t.co/il3rfjie63
– jp mullin (🕉, 🏘🏘️) (@jp_mullin888) April 14, 2025
Additionally, he condemned the massive sale at an immeasurable account closure, which was launched by the central exchange of OM. He emphasized that Sunday evening timing was marked with a hypofluid supply, indicating a lack of rationale due to the exchange involved.
Nevertheless, OM continues to have a downward trend today, with 22% corrected to trade 22% at $0.78 at the time of writing. In particular, the Mantra Ecosystem has recently ticked a $1 billion tokenization deal with real estate conglomerate Damac.
