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MANTRA CEO, JP Mullin, is burning 150 million OM tokens from his own allocation and engaging other ecosystem partners to burn an additional 150 million tokens. This 300 million OM token burn aims to restore investor trust in the project and stabilize the altcoin’s price dynamics.

OM is attempting to recover from one of the most dramatic crashes in recent crypto history. On April 13, it lost over 90% of its value in a single hour. The collapse, which erased more than $5.5 billion in market cap, triggered widespread accusations of insider activity and manipulation within the Real-World Assets (RWA) sector.

Understanding MANTRA’s Token Burn

Mantra, once one of the biggest players in the Real-World Assets (RWA) sector, suffered a dramatic collapse on April 13, with its token crashing over 90% in less than an hour and wiping out more than $5.5 billion in market capitalization.

The plunge followed a rapid surge earlier this year, when OM rose from $0.013 to over $6, pushing its fully diluted valuation to $11 billion. The crash was reportedly triggered by a $40 million token deposit into OKX by a wallet allegedly linked to the team, sparking fears of insider selling.

Panic spread quickly as rumors of undisclosed OTC deals, delayed airdrops, and excessive token supply concentration fueled mass liquidations across exchanges.

Despite co-founder John Patrick Mullin denying any wrongdoing and blaming centralized exchanges for forced closures, investors and analysts raised concerns about potential manipulation by market makers and CEXs, drawing comparisons to past collapses like Terra LUNA.

In an effort to rebuild trust, Mullin has announced the permanent burn of his 150 million OM team allocation. The tokens, originally staked at mainnet launch in October 2024, are now being unbonded and will be fully burned by April 29, reducing OM’s total supply from 1.82 billion to 1.67 billion.

This move also lowers the network’s staked amount by 150 million tokens, which could impact on-chain staking APR.

Additionally, MANTRA is in talks with partners to implement a second 150 million OM burn, potentially cutting the total supply by 300 million tokens.

OM Price Faces Critical Test as Token Burn Battles Lingering Market Doubt

Despite MANTRA’s ongoing token burn efforts, it’s still uncertain whether the move will be enough to fully restore investor confidence in OM.

From a technical standpoint, if momentum begins to recover, OM could test the immediate resistance at $0.59. A successful breakout at that level may pave the way for further gains toward $0.71, with additional key hurdles at $0.89 and $0.997 standing between the token and a return to the psychologically important $1 mark.

However, reclaiming these levels will likely require sustained buying interest and broader sentiment recovery across the Real-World Assets (RWA) sector.

On the downside, if the token burn fails to shift sentiment or if selling pressure continues, OM risks resuming its decline.

The first key support lies at $0.51, and a breakdown below that level could send the price further down to $0.469.

Given the scale of the recent crash and the lingering distrust among investors, the path to recovery remains fragile—OM now sits at a critical crossroads between a potential rebound and further erosion of its market value.

The post MANTRA CEO and Partners to Burn 300 Million Tokens – Will OM Get Back to $1? appeared first on BeInCrypto.

The crypto market shows positive signs in the second half of April 2025. Several divergence signals have appeared, suggesting a potential recovery for Bitcoin and altcoins.

Divergence is a key concept in data analysis. It happens when the values of two metrics suddenly shift and move in opposite directions compared to their previous trend. This often signals a change in price momentum. Based on expert analysis and market data, this article highlights five major divergence signals—three for Bitcoin and two for altcoins—to help investors better understand the market outlook.

3 Divergence Signals in April Point to a Bitcoin Price Rally

Historically, Bitcoin and the DXY Index (US Dollar Index) move in opposite directions. When DXY rises, Bitcoin tends to fall, and vice versa. But from September 2024 to March 2025, Bitcoin and the DXY moved in the same direction.

This correlation broke in April when the US announced a new tariff policy. The inverse relationship seems to have returned.

Joe Consorti, Head of Growth at TheyaBitcoin, noted that Bitcoin started decoupling from the US dollar after the announcement of the sweeping tariff regime. A chart from his post shows that in April, while the DXY fell sharply from 103.5 to 98.5, Bitcoin surged from around $75,000 to over $91,000.

This divergence may reflect investors turning to Bitcoin as a safe-haven asset amid global economic uncertainty caused by the tariffs.

“Bitcoin has been diverging from the US dollar since the US announced its sweeping tariff regime. Amidst this global economic reordering, gold and bitcoin are shining,” Joe Consorti predicted.

Another key divergence comes from Tuur Demeester, an advisor to Blockstream. He pointed out a separation between Bitcoin and the NASDAQ Index, which represents tech stocks. Historically, Bitcoin closely followed the NASDAQ due to its ties to tech and macroeconomic sentiment.

But in April 2025, Bitcoin started showing independent growth. It no longer moves in sync with the NASDAQ. While some, like Ecoinometrics, argue that this divergence isn’t necessarily bullish, Demeester remains optimistic.

“Bitcoin divergence” and “Bitcoin decoupling” will be dominant headlines for 2025,” Tuur Demeester said.

Specifically, NASDAQ has faced downward pressure from interest rate concerns and slowing growth. Meanwhile, Bitcoin has shown strength, with significant price gains. This suggests that Bitcoin is cementing its role as a standalone asset less tied to traditional markets.

Data from CryptoQuant highlights another divergence—this time in investor behavior. Long-term Bitcoin holders (LTH, those who’ve held BTC for over 155 days) began accumulating again after the recent local peak.

In contrast, short-term holders (STH) are selling off. This divergence often signals the early stage of a re-accumulation phase and hints at a future price rebound.

“Why This Divergence Matters? LTH behavior is generally associated with macro conviction, not speculative moves. STH activity is often emotional and reactive, driven by price volatility and fear. When LTH accumulation meets STH capitulation, it tends to signal early stages of a re-accumulation phase,” IT Tech, an analyst at CryptoQuant, predicted.

Altcoin Recovery Round the Corner

Divergence signals also appeared for altcoins, indicating a positive short-term outlook.

Jamie Coutts, Chief Crypto Analyst at Realvision, pointed to a key divergence using the “365-day new lows” indicator. This metric tracks how many altcoins hit their lowest point in the past year.

In April 2025, although altcoin market capitalization dropped to a new low, the number of altcoins hitting new 365-day lows decreased significantly. Historically, this pattern often precedes a recovery in altcoin market caps.

“Divergence shows downside momentum was exhausted,” Jamie Coutts said.

In simpler terms, fewer altcoins hitting rock bottom means less panic-selling. It suggests that negative market sentiment is weakening. At the same time, rising prices show renewed buying interest. These factors hint that altcoins may be gearing up for a recovery—or even an “altcoin season,” a period when altcoins outperform Bitcoin.

Another technical divergence comes from the RSI (Relative Strength Index) on the Bitcoin Dominance chart (BTC.D), noted by analyst Merlijn The Trader. This chart reflects Bitcoin’s share of the total crypto market capitalization.

“Bearish Divergence Spotted on BTC.D. Higher highs on the chart. Lower highs on RSI. This setup doesn’t lie. Altcoin strength is brewing. Watch for trade setups,” Merlijn said.

This pure technical divergence suggests that BTC.D might soon undergo a strong correction. If that happens, investors may shift more capital into altcoins.

The altcoin market cap (TOTAL3) rebounded by 20% in April, from $660 billion to over $800 billion. The divergence signals discussed above suggest that this recovery could continue.

The post 5 Divergence Signals in April Point to a Recovery for Bitcoin and Altcoins appeared first on BeInCrypto.

The crypto industry is witnessing a resurgence in public market interest, fueled by President Donald Trump’s administration’s pro-crypto stance.

Asset management firm Ark Invest foresaw this prospective wave of interest months ago, indicating that Trump’s stance on crypto would provide a runway for multiple Initial Public Offerings (IPOs).

Gemini Moves Closer to Public Debut

Gemini exchange, the crypto exchange founded by billionaire twins Cameron and Tyler Winklevoss, reportedly filed for an IPO confidentially and could go public as soon as this year.

Bloomberg, citing sources close to the matter, said the exchange was working with financial heavyweights Goldman Sachs and Citigroup. This move came after the US SEC (Securities and Exchange Commission) closed its investigation into Gemini without pursuing enforcement action. As BeInCrypto reported, this cleared a major regulatory hurdle for the firm.

Gemini’s decision to go public coincides with its co-founders’ increasing political engagement. Notably, the Winklevoss twins were among the attendees at Trump’s White House Crypto Summit, reflecting their growing influence in the crypto policy space.

The brothers were also notable financial supporters of Donald Trump’s presidential campaign. They donated Bitcoin beyond the legal limit, resulting in a partial refund.

Trump’s administration has been vocal in supporting cryptocurrency, following through with previous commitments for a strategic crypto reserve. Gemini is poised to take advantage of this favorable climate.

Kraken Plans 2026 IPO Amid Regulatory Shift

Following Gemini’s lead, the Kraken exchange also positions itself for a public offering, reportedly slated for early 2026. The interest comes amid what it sees as a friendlier regulatory environment under President Trump.

The exchange recently disclosed financial highlights for 2024, revealing revenue of $1.5 billion and adjusted earnings of $380 million. Like Gemini, the US SEC also dropped its lawsuit against Kraken, reversing its previous stance and signaling a broader shift in crypto enforcement.

Like Gemini, the Biden administration stifled Kraken’s IPO ambitions due to regulatory pressures, including SEC enforcement actions. However, with both cases now settled, the companies see an opportunity to enter the public markets.

Kraken Co-CEO Arjun Sethi also attended the White House Crypto Summit, signaling the company’s alignment with the administration’s crypto-friendly policies.

Based on these, therefore, the IPO climate for crypto firms appears increasingly favorable. Cathie Wood’s Ark Invest had predicted that firms like Kraken and stablecoin issuer Circle would pursue IPOs under a Trump administration, a forecast that now seems to be materializing.

Meanwhile, Kraken and Gemini are not alone in this trend. BitGo, a major digital asset custodian, is also reportedly exploring a public listing in the second half of 2025.

The post Crypto IPO Wave: Gemini, Kraken, and BitGo Target Public Listings appeared first on BeInCrypto.