Rapid Liquidation
According to Coinglass, Mantra reportedly experienced over $70 million in liquidations during the crash.
Source: CoinGecko
JP Mullin, co-founder and CEO of Mantra, attributed the sharp decline to “reckless forced closures initiated by centralized exchanges,” suggesting the rapid liquidation of positions occurred without adequate warning.
Strong Investor Confidence
Despite the turmoil, Mullin thanked the community for its continued support, calling it a reflection of strong investor confidence in the leading RWA crypto project.
Still, it remains to be seen as to whether Mantra can recover from this disaster.
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