MANTRA’s native token tumbled 18.5% from its 24-hour peak to an all-time low of $0.004126 on Thursday, according to CoinGecko. The decline occurred shortly before MANTRA Chain halted block production, prompting the project to suspend network operations as a precautionary measure while investigating an unexplained incident.
Trading volume surged nearly 600% to $24 million during the selloff, though the token later recovered to around $0.0044. Over 24 hours, MANTRA remained down roughly 10%. The network’s public RPC showed block 17,449,398 as its latest, produced at 11:13 pm UTC, with the incident notice posted at 11:44 pm.
MANTRA Chain’s status page classified the disruption as a full outage affecting public endpoints, validators, bridge migration operations, and MANTRA-managed Inter-Blockchain Communication relays. The team stated it would not restart the network until safety could be confirmed. Affected exchanges paused deposits and withdrawals, with no timeline provided for service resumption.
The project acknowledged the incident but did not disclose a root cause, timeline for resolution, or whether any assets were compromised. MANTRA has not indicated a direct link between the price decline and the network halt. CoinGecko data showed the token reaching its low around 11:10 pm UTC.
This follows MANTRA’s April 2025 collapse of its former OM token, which fell over 90% from about $6.30 to below $0.50, erasing more than $5 billion in market value. In June, Inveniam Capital Partners announced plans to acquire MANTRA after investing $20 million in the project earlier this year. The acquisition came after January layoffs and restructuring, with CEO John Patrick Mullin describing 2025 as the project’s most challenging year.
