Mantra’s OM Token Surges 45% Despite Looming Hyperliquid Delisting Vote – Here’s Why

• Why Is OM Token Defying Delisting Fears With a 45% Rally?
• Hyperliquid’s Make-or-Break Vote: February 23, 2026
• Mantra’s Rebranding Gambit: From Multi-Chain to Layer 1
• Investors Back Mantra’s Long Game Over Short-Term Chaos
• The Bigger Picture: What OM’s Rally Signals for Crypto
• FAQs: Your OM Token Questions Answered

In a twist that’s got crypto traders buzzing, Mantra’s native token OM has defied expectations with a jaw-dropping 45% rally over the past week—even as Hyperliquid prepares for a pivotal vote on delisting it. This bullish momentum comes amid a major rebranding shift from an ERC-20 token to an independent Layer 1 blockchain. While exchanges like KuCoin have already pulled OM from trading, investors seem unfazed, betting big on Mantra’s regulatory-compliant vision for real-world asset tokenization. Here’s the full breakdown of this high-stakes crypto drama.

Why Is OM Token Defying Delisting Fears With a 45% Rally?

OM, the native token of Mantra, is staging a Lazarus-like comeback, skyrocketing 45% in seven days despite facing potential removal from Hyperliquid’s exchange. This isn’t just a dead-cat bounce—it’s a full-blown redemption arc. The rally comes after April 2025’s brutal flash crash (which saw KuCoin suspend trading) and coincides with Mantra’s ambitious pivot from Ethereum’s ERC-20 standard to its own blockchain. Data from CoinMarketCap shows OM’s trading volume spiking 300% during this surge, suggesting institutional players might be accumulating. "This is classic ‘buy the rumor’ behavior," notes a BTCC market analyst. "Traders are pricing in Mantra’s VASP license in Dubai and its regulatory edge over competitors."

Hyperliquid’s Make-or-Break Vote: February 23, 2026

Mark your calendars—Hyperliquid’s validators will cast on-chain votes on February 23 to decide OM’s fate. The platform’s new governance system (launched January 2026) allows permissionless, stake-weighted delisting decisions that take immediate effect upon reaching quorum. If passed, OM positions will auto-liquidate at pre-delisting average prices, with traders given a one-hour grace period to exit manually. Interestingly, this aligns with KuCoin’s earlier OM delisting on February 20 and Digitalexchange.id’s January 15 deadline. "It’s a stress test for decentralized governance," admits a Hyperliquid dev. "The community must weigh liquidity against protocol purity."

Mantra’s Rebranding Gambit: From Multi-Chain to Layer 1

Mantra isn’t just changing its clothes—it’s undergoing full reconstructive surgery. The project is ditching its ERC-20 roots for a dedicated blockchain focused on tokenizing real-world assets (RWAs). Originally slated for January 19, the migration was delayed to March 2 to complete security audits and exchange integrations. Holders will swap OM to MANTRA at a 1:4 ratio via Mantra’s bridge portal (existing MANTRA wallets auto-convert). "We’re building the Rails for RWAs in MENA," says CEO John Patrick Mullin, referencing Dubai’s Virtual Assets Regulatory Authority (VARA) approval. The timing couldn’t be riskier—or more strategic.

Investors Back Mantra’s Long Game Over Short-Term Chaos

Why WOULD anyone buy a token facing delisting? Because crypto markets reward visionaries who zig when others zag. OM’s rally reflects confidence in Mantra’s regulatory-first approach—a rarity in DeFi’s "move fast and break things" culture. With RWA narratives heating up (BlackRock’s BUIDL fund grew 40% last quarter), Mantra’s pivot positions it as a compliant gateway for institutional capital. "Exchanges come and go, but infrastructure is forever," quips a Dubai-based fund manager holding OM. Still, the Hyperliquid vote remains a wildcard—will decentralized governance prioritize ideals over trading volume?

The Bigger Picture: What OM’s Rally Signals for Crypto

Beyond price charts, this saga reveals crypto’s evolving power dynamics. Projects like Mantra are prioritizing regulatory alignment over exchange listings—a stark contrast to 2021’s "list it anywhere" mentality. Meanwhile, Hyperliquid’s vote could set precedents for how DeFi platforms handle controversial assets. One thing’s clear: in 2026’s maturing market, survival favors those who play the long game. As for OM? Whether this rally holds may depend less on delisting votes and more on whether Mantra can deliver its promised RWA revolution.