Red flag? Mantra's TVL jumped 500% as OM price collapsed

OM traders bought about 35 million tokens during the April 13 dumping hours, but analysts warn of a bull trap in the making.

The total-value-locked (TVL) on Mantra’s RWA blockchain protocol reached a yearly high despite OM’s 90% price crash.

As of April 15, Mantra’s TVL (in OM terms) jumped to 4.21 million OM (~$3.24 million), an increase of over 500% from two days prior, according to data resource DefiLlama.

Mantra’s cumulative TVL chart. Source: DefiLlama.

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