Mantra stocks plunge 90% after buying back $25 million

Mantra (OM), a cryptocurrency whose price plummeted 90% in three hours in April this year, will be conducting a buyback to restore credibility, News 1 reported.
On the 27th (local time), Mantra announced that it would be conducting a $25 million (approximately 3.7 billion yen) OM token buyback through X.
Buybacks are used by the Cryptocurrency Foundation to directly purchase tokens on the market, reducing their circulation and increasing their prices.
Mantra was classified as a representative coin of the "Real-Time Assets (RWA)" theme, which was a hot topic in the virtual currency industry last year.
It is a large-scale cryptocurrency project that has secured a place in the top 20 in global market capitalization. However, on April 14, its price crashed by 92% in 3 hours and 30 minutes, and its market capitalization dropped to $5 billion (approximately 735.5 billion yen).
At the time, Mantra said that this was due to a large-scale forced liquidation at a specific exchange.