The crypto market reeled as Mantra’s OM token plunged more than 90% within hours, wiping out over $6 billion from its market cap and leaving investors scrambling for answers. Long seen as a trusted project with a solid foundation, the sudden collapse sparked widespread concern—and accusations.
Yet amid the chaos, Mantra’s CEO John Mullin has stepped forward with a drastic move aimed at restoring confidence. In a public statement, Mullin pledged to burn his own OM allocation —tokens that were locked and scheduled for release years down the line.
The OM Token Collapse, Allegations and Investor Opportunities
Mantra’s OM token crash on April 13 shook investor confidence in a project long perceived as stable, wiping out over 90% of its value in just a few hours. The fallout was immediate too—with over $70 million in liquidations recorded. The market cap did a freefall from $6 billion to under $700 million. As accusations of a rug pull circulated, comparisons to past disasters like LUNA and FTX gained traction.
Popular exchange OKX’s subsequent analysis of the project pointed to deeper systemic issues, noting that OM’s tokenomics had shifted since October 2024 and that irregular patterns of exchange activity had been flagged weeks prior. While Mantra’s CEO, John Mullin, dismissed any rug pull claims and in turn blamed centralized exchanges for executing forced liquidations during low-liquidity hours, market trust had already taken a hit.
However, in a rare and deliberate move to win back the community’s trust, Mullin announced plans to burn the entire allocation of OM tokens allocated to him—tokens that were scheduled for release between 2027 and 2029. This may represent a good chunk of nearly 17% of the total team supply. It’s not just a symbolic gesture. If executed, the burn would significantly tighten the token’s long-term supply curve and potentially strengthen OM’s price dynamics.
While some agencies reported that Mullin planned to burn all the team tokens, he quickly clarified that the only tokens set to be burned were those that were allocated to him as a stakeholder.
More importantly, it signals a shift in how projects respond to crises—by sacrificing internal gains to restore public faith. For investors, this could signal both a short-term rebound opportunity and a potential long-term repositioning of OM as a rehabilitated asset.
For the crypto sector as a whole, it raises the bar for accountability, showing that decisive and transparent action—especially when reputations are on the line—might be the only way forward when trust is broken.
Best Crypto to Buy Now as OM Investors Look to Park Funds
With over $6 billion wiped from OM’s market cap, a significant portion of capital—particularly from larger holders—is now in limbo. Some investors may simply exit the market, but others, especially those with deep pockets, are likely scouting for newer, smaller-cap tokens that show resilience, vision, and potential upside.
While the liquidity displacement may not cause major ripples across the entire market, certain projects could benefit from being timely, ambitious, and positioned to absorb fragments of that redirected capital. These projects, given their recent popularity and trending status, may be some of the preferred investors’ favorites.
SUBBD
In the aftermath of OM’s breakdown, a growing theme in crypto is transparency, and SUBBD’s pitch aligns squarely with that mood. Instead of simply being another project offering access to decentralized media, SUBBD launches as an infrastructure overhaul for how creators and fans interact, bypassing gatekeepers like OnlyFans and Patreon that have long been criticized for harsh revenue splits.
It boasts a system where creators can tokenize access, communication, and exclusivity without surrendering their earnings to a platform that takes 50–70% of the revenue. Fans can subscribe, tip, and message their favorite creators directly—on-chain—without the friction or censorship often seen on legacy platforms. The $SUBBD token fuels this exchange, serving both as the currency and the governance unit within the ecosystem.
This model resonates particularly well in moments when trust in centralized systems is low. The recent growth in creator economy has shed light on the conversations around creator autonomy and investor security—two issues that SUBBD tackles head-on. With over $1.5 million raised, the SUBBD token presale could definitely be on the watchlist of several OM investors, and even those simply looking to invest into high-potential projects right now.
BTC Bull
When shaken investors look for stability, they often turn to narratives they can understand. BTC Bull leverages that instinct with surgical precision. The project may wear the mask of a memecoin, but what it’s building underneath is a community-driven initiative centered around long-term Bitcoin growth.
Think of it as a cultural accelerator that rewards holding, staking, and promoting the asset Bitcoin already is, while using the viral nature of meme coins to bring in new energy.
BTC Bull does not exactly offer pie-in-the-sky promises like a majority of meme coins do. Its strength lies in aligning meme-powered momentum with BTC-focused rewards and game theory. Stakers of the token can earn additional yields for participation in bullish behavior, and its gamified structure aims to convert casual holders into engaged participants, just as projects like OM once did in their prime.
Essentially, every time BTC reaches a certain price milestone, investors will be able to enjoy rewards in the form of airdrops. Token burns will also be initiated to ensure that the supply-demand dynamic of the token remains strong and in continuous uptrend.
In the context of recent events, where investor sentiment is damaged and reputations are being questioned, BTC Bull presents a low-barrier, high-visibility project that wears its goals on its sleeve. It doesn’t aim to rebuild trust through complex utility—it earns it by leaning into a movement many already support: the mainstream rise of Bitcoin. As OM holders look to reenter with smaller bets that still carry macro alignment, BTC Bull could be a surprisingly rational next step.
Solaxy
While Mantra’s collapse raises questions about tokenomics and internal structure, Solaxy offers a sharp contrast. It’s not a hype-driven presale—it’s a Layer 2 solution with real traction. Built to bridge Ethereum and Solana ecosystems, Solaxy addresses congestion, cost, and scalability issues with a fluid system that facilitates high-speed, low-fee transactions across chains. But its real trick is making this interoperability accessible without sacrificing decentralization.
Solaxy’s appeal goes beyond its tech. At a time when investors are re-evaluating the sustainability of token projects, Solaxy has shown signs of being more than just a quick cash grab. Its presale has already drawn significant attention, and its dual-chain utility positions it well for upcoming market phases, especially if ETH and SOL continue gaining strength.
OM investors who are still bullish on infrastructure plays but now carry a healthy skepticism for project transparency might see Solaxy’s structure as a safer, more reliable target. It has also been featured by top crypto-education entities like 99Bitcoins in their YouTube channel and website as a good bet—another move that brings trust to the project.
With L2s gaining more relevance by the week and Solaxy promoting a transparent roadmap, the project could become a smart destination for capital that’s been shaken out of riskier ventures. In short, it’s one of the few newer projects that feels engineered for the long haul, rather than a token built around fleeting momentum.
MIND of Pepe
If Mantra’s crash has taught investors anything, it’s that decentralization alone doesn’t guarantee transparency—and community trust now depends just as much on visibility as on tech. This is precisely where MIND of Pepe slips in with something that feels both timely and sharp: a tokenized AI personality that doesn’t just exist on-chain, but actively engages with the social media lifeblood that drives crypto sentiment.
MIND of Pepe isn’t some abstract AI project with a vague utility pitch. It’s built to function like a real-time trend interpreter—an AI agent wrapped in meme culture that analyzes sentiment, monitors crypto-related discourse, and translates it into usable insight for holders. Think of it as an AI-powered analyst with a meme-face, built for the chaos of modern crypto markets.
The project’s strength is in turning hype, conversation, and online chatter into something structured. And since it’s built around meme identity, it can operate at the very intersection of attention and analytics.
This duality—combining cultural crypto elements with data utility—gives it an edge in a market still dominated by emotion-driven investing. With OM’s collapse fresh in mind, investors may find confidence in a project that doesn’t just follow the crowd—it watches the crowd, interprets it, and makes that knowledge available to its community.
Conclusion
The aftermath of OM’s crash has brought a rare moment of clarity to a space often clouded by hype. While the collapse damaged confidence, it also freed up capital—and more importantly, reminded investors what can go wrong when transparency lags behind ambition. For those not exiting the market but simply repositioning, this becomes a window.
While the OM project may be looking to rebuild investor confidence and its ecosystem from the ground up, there may be skepticism surrounding the project that could stunt its growth for the coming months. However, if it manages to pull itself out of that state with its new transparent and investor-first approach, then it could be seen as a huge win for the crypto community.
Source: https://en.cryptonomist.ch/2025/04/17/best-crypto-to-buy-now-following-mantras-push-to-rebuild-trust/