Binance Lists MANTRA Token Amid Market Turmoil as OM Plunges Below $0.4

MANTRA’s OM token has experienced a dramatic decline, dropping below the $0.40 support level as selling pressure intensifies. The Relative Strength Index (RSI) has plunged to a concerning 17, signaling deeply oversold conditions. This sharp downturn comes as the altcoin trades 94% below its April highs, following a catastrophic liquidation event that wiped out billions in market value. The protocol’s market capitalization collapsed from $6 billion to under $700 million in just hours, exacerbated by thin weekend liquidity. Despite the turmoil, Binance’s potential listing of the token could provide a lifeline for investors. CEO John Mullin has released on-chain statements addressing the situation, though details remain scarce. This development highlights the volatile nature of cryptocurrency markets and the risks associated with Leveraged positions. As of May 5, 2025, traders are closely watching for signs of recovery or further downside in this high-stakes environment.

MANTRA Token Plunges Below $0.4 as RSI Signals Oversold Conditions

MANTRA’s OM token has breached the $0.40 support level amid intense selling pressure, with its Relative Strength Index plunging to a concerning 17. The altcoin now trades 94% below its April highs after a catastrophic liquidation event erased billions in market value.

The protocol’s market capitalization collapsed from $6 billion to under $700 million in hours during thin weekend liquidity. CEO John Mullin released on-chain data refuting allegations of insider selling, though the team acknowledged forced liquidations without specifying involved exchanges.

Binance Partners with Kyrgyzstan to Boost Crypto Sector Amid CBDC Development

Binance has entered into a strategic partnership with Kyrgyzstan’s National Agency for Investments under President Sadyr Japarov, formalized through a Memorandum of Understanding (MoU). The agreement, signed during the inaugural meeting of the Council for the Development of Digital Assets, aims to foster long-term growth in the country’s digital asset ecosystem.

The collaboration coincides with Kyrgyzstan’s advancement toward a central bank digital currency (CBDC). Recent constitutional amendments grant legal tender status to the digital som, empowering the National Bank of the Kyrgyz Republic to issue and regulate the currency. This dual-track approach—private sector collaboration and sovereign digital currency development—positions Kyrgyzstan as an emerging hub for blockchain innovation.