Binance ceases operations with MANTRA (OM) on external networks
Back
The largest cryptocurrency exchange, Binance, announced the imminent cessation of support for operations with MANTRA (OM) tokens on the Ethereum and BNB Smart Chain networks. Starting September 26, 2025, users will no longer be able to deposit or withdraw funds using OM in ERC20 and BEP20 formats.
The official announcement emphasizes that any transactions sent to these blockchains after the specified date will not be processed. Funds transferred to old addresses risk being lost without the possibility of recovery. This decision aims to accelerate the transition of the MANTRA ecosystem to its own mainnet.
MANTRA's CEO, Jay P. Mallin, noted that thanks to the collaboration with Binance, the migration is proceeding significantly faster than initially planned. According to him, the temporary restriction on working with OM on external networks is a necessary but forced measure aimed at simplifying the process for the community and minimizing risks.
This is significantly lower than the historical peak of $9.04 recorded in February 2025. Over the past seven months, the asset has lost nearly 98% of its value. The daily trading volume also shows a decline — it fell by 22% to $47.25 million.
As part of the program, approximately 10% of the circulating supply of OM was withdrawn from circulation. This move is aimed at reducing inflation, increasing the long-term value of the asset, and strengthening the project's position in the promising direction of tokenizing real assets (Real World Assets, RWA).
The official announcement emphasizes that any transactions sent to these blockchains after the specified date will not be processed. Funds transferred to old addresses risk being lost without the possibility of recovery. This decision aims to accelerate the transition of the MANTRA ecosystem to its own mainnet.
«Returning Home»: Token Migration Strategy
The MANTRA project team expressed gratitude to Binance for its support in the initiative of «returning $OM home». This implies a complete transition of assets to the project's native network, where the token can fully unleash its functionality and provide users with maximum security and efficiency.MANTRA's CEO, Jay P. Mallin, noted that thanks to the collaboration with Binance, the migration is proceeding significantly faster than initially planned. According to him, the temporary restriction on working with OM on external networks is a necessary but forced measure aimed at simplifying the process for the community and minimizing risks.
Market Reaction: Price and Volumes in Free Fall
The news of the cessation of support for OM on Ethereum and BSC triggered an immediate market reaction. The token's price dropped by nearly 7.5%. At the time of publication, according to CoinGecko data, OM is trading at $0.2158 with a market capitalization of about $229.55 million.This is significantly lower than the historical peak of $9.04 recorded in February 2025. Over the past seven months, the asset has lost nearly 98% of its value. The daily trading volume also shows a decline — it fell by 22% to $47.25 million.
Token Buyback and Investments: Steps Towards Stabilization
In an effort to support the price and strengthen investor confidence, the MANTRA team conducted a large-scale token buyback worth $25 million at the end of August. This initiative was made possible by attracting investments from Inveniam amounting to $20 million.As part of the program, approximately 10% of the circulating supply of OM was withdrawn from circulation. This move is aimed at reducing inflation, increasing the long-term value of the asset, and strengthening the project's position in the promising direction of tokenizing real assets (Real World Assets, RWA).