- MANTRA‘s native token plunged 18.5% to an all-time low of $0.004126 before the chain halted block production
- The project paused the network as a precaution due to an unexplained incident with no root cause identified yet
- Trading volume surged nearly 600% to $24 million while the token remained down roughly 10% over 24 hours
MANTRA‘s native token fell 18.5% from its 24-hour high to a record low of $0.004126 shortly before the MANTRA Chain stopped producing blocks late Thursday, according to data from CoinGecko. The project’s team announced a precautionary halt over an unexplained incident on Friday.
The token later recovered to approximately $0.0044 but remained down roughly 10% over 24 hours. Trading volume climbed nearly 600% to $24 million during the same period.
MANTRA said on X it was “aware of an incident affecting MANTRA Chain” and had halted the network as a precaution while it investigated. “We don’t have a root cause or timeline to share yet,” the project stated, adding that all endpoints and transactions were frozen.
The halt prevents assets from moving on MANTRA Chain and has prompted affected exchanges to pause deposits and withdrawals. No timeline has been provided for either service to resume.
MANTRA‘s status page classified the incident as a full outage affecting public endpoints, validators, bridge migration operations, and Inter-Blockchain Communication relays. The team said it would not restart the network until it was confident it was safe.
The network’s public RPC listed block 17,449,398, produced at 11:13 pm UTC on Thursday, as its latest block. MANTRA posted its initial incident notice at 11:44 pm, while CoinGecko showed the token reaching its low around 11:10 pm.
MANTRA has not confirmed whether the price movement was related to the incident or whether any assets were lost or placed at risk. The latest decline follows the April 2025 collapse of MANTRA‘s former OM token, which plunged more than 90% and erased over $5 billion in market value.
In June, Inveniam Capital Partners announced plans to acquire MANTRA after investing $20 million in the project. That acquisition followed January layoffs and restructuring after CEO John Patrick Mullin described 2025 as the project’s most challenging year.
✅ Follow BITNEWSBOT on Telegram, Facebook, LinkedIn, X.com, and Google News for instant updates.
