Binance has made an announcement that it will discontinue support for deposits and withdrawals of MANTRA (OM) on some networks from September 26, 2025.
As per the announcement, users will no longer be able to deposit OM via the Ethereum (ERC20) network from September 26 at 03:00 UTC. They will also not be able to withdraw OM using the BNB Smart Chain (BEP20) or Ethereum (ERC20) networks.
Binance has warned that any deposits sent through these networks after the deadline will not be credited to user accounts and may result in a loss of funds. Other supported networks will continue to accept OM token withdrawals and deposits. This means the change only impacts certain networks, not OM trading.
MANTRA shared a post on X appreciating Binance for supporting the transition of its community, saying it was “epic” to see Binance help “bring $OM hOMe.”
JP Mullin, MANTRA’s CEO, also highlighted on X that the migration of OM tokens to the Mainnet is progressing rapidly, thanks to support from Binance. The delisting of certain networks is meant to facilitate this smooth migration for the community.
OM Token’s Price Drop
Following the announcement, OM’s price has dropped by about 7.43% today. According to CoinMarketCap, the token was trading at $0.2158, with a market cap of approximately $229.549 million at the time of writing.
The OM token is also trading much lower than its all-time high of $9.04 from February 2025, now down almost 100% in seven months. The token saw a 24-hour trading volume of $47.25 million, which is down about 22%.
At the end of August, MANTRA launched a $25 million OM token buyback. This followed a $20 million investment from Inveniam, bringing total commitments to $45 million.
The buyback is approximately 10% of the circulating supply for OM. It is intended to increase long-term value and position MANTRA more firmly within the real-world asset (RWA) segment.
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