And once again, a billion-dollar crypto RWA project is ruggering its investors. The popular real-world asset coin called Mantra loses around USD 5 billion in market cap within a very short space of time.
Allegedly there were many sales via OTC. The founders are currently fighting a rugpull and trying to stabilize the situation - but so far in vain.
What can we learn from this?
No matter how "legit" a crypto project looks: Stay away from such altcoins / memecoins - especially if they are based in the UAE.
In the end, $BTC remains the only real choice in the crypto sector. Possibly $ETH, although this too has had massive performance slumps and continues to weaken.
Mantra investors will most likely never see their money again. Anyone still investing now is just gambling - I would almost recommend the casino.
STAY SAFE!