- Binance ends support for MANTRA (OM) on Ethereum and BNB by 2025.
- Users must withdraw OM tokens to avoid loss.
- OM price declines 1.6% after Binance announcement.
This move raises concerns over platform reliability and user fund safety, impacting market confidence and OM’s trading volume, which dropped significantly upon the announcement.
Section 1
Binance announced its decision to cease support for MANTRA (OM) deposits and withdrawals on the Ethereum (ERC20) and BNB Smart Chain (BEP20) networks starting in September 2025. The announcement highlights potential risks to investors.
“Transacting on these networks after the cutoff may result in unrecoverable loss of funds.”
No detailed explanation has been provided for Binance’s decision. This action affects only MANTRA (OM) transactions via ERC20 and BEP20 networks. Users are warned against potential unrecoverable losses if tokens remain in these networks.
Section 2
Following the announcement, the OM token experienced a 1.6% drop in price, underscoring investor concerns. The market shows a drop in trading volume, with increased sell pressure anticipated before the September cutoff.
The decision affects only OM token holders using specific networks, not Ethereum core or BNB. The market might experience volatility due to reduced liquidity and possible asset migration away from affected networks.
Section 3
Historically, similar actions by Binance have led to short-term decreases in asset value. In April 2025, OM’s value collapsed significantly due to market volatility, not withdrawal halts.
Potential outcomes include financial instability for OM token holders on affected networks. Lack of regulatory insights or support from MANTRA’s leadership raises concerns. The community’s response remains focused on asset preservation.
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