Lower than a 12 months after Mantra's OM token inexplicably plummeted 90% in minutes, OM is up 33% at the moment after the Actual World Property (RWA) protocol was rebranded into a brand new token and MEXC introduced assist for token swaps.
OM's market cap jumped from $55 million to $72 million after the cryptocurrency change introduced it will assist the upcoming migration from OM to MANTRA. MEXC will settle for OM deposits, which will likely be exchanged for MANTRA at a ratio of 1:4.
Regardless of gaining 33%, OM continues to be down 99% from its all-time excessive of $8.5 in February 2025, presently buying and selling at $0.06.
About market capitalization chart – CoinGecko
The rebrand comes only a month after Mantra introduced job cuts amid a company restructuring.
It stays to be seen whether or not this restructuring and token migration will assist Mantra restore its tarnished picture, however different protocols which have taken the token migration route have fared poorly.
Essentially the most notable examples embrace Polygon's MATIC to MATIC migration. $POLFantom's migration and pivot from FTM to Sonic and its S token.
MATIC reached its highest ever totally diluted valuation (FDV) of $29.2 billion in December 2021. $POL It’s presently buying and selling at an FDV of $1 billion. FTM additionally hit an all-time excessive in December 2021, attaining an FDV of $11 billion, whereas S's buying and selling worth is presently solely $171 million.
