MANTRA Token Crashes to Record Low Amid Blockchain Halt
The MANTRA token plummeted by 18.5% on Thursday to a record low of $0.004126, just before the blockchain halted production due to an unexplained incident.
According to CoinGecko, the price drop occurred around 11:00 pm UTC, but it later recovered slightly to about $0.0044. However, MANTRA remained down by roughly 10% over a 24-hour period, with trading volume increasing nearly 600% to $24 million.
MANTRA's team announced a precautionary halt of the network due to an incident affecting the blockchain, stating that they were 'aware of an incident affecting MANTRA Chain' and had halted the network as a precaution while it investigated.
The halt prevents assets from moving on MANTRA Chain and has prompted affected exchanges to pause deposits and withdrawals. The team has not given a timeline for either service to resume.