By RWA blockchain Mantra has taken it to X to announce its first $25 million token buyback, aimed at boosting investor confidence and reinforcing long-term value.
Notably, key institutional figures and stakeholders have backed the program.
Today we are announcing the first $25M $OM token buyback, backed by key investors and stakeholders. Together with @InveniamIO‘s recent $20M investment, total commitments now reach $45M – reinforcing strong institutional confidence in OM’s long-term value, MANTRA’s wider #RWA
That marks a crucial step toward cementing the altcoin’s market position to draw businesses and retail enthusiasts.
The announcement follows the latest $20 million investment from Inveniam IO.
That brings overall institutional commitments linked to OM and the Mantra network to $45 million when combining with the strategic buyback initiative.
The news shifted sentiments almost immediately.
OM saw a sharp 6.79% uptick after Mantra’s announcement as markets responded to key support and trust from renowned investors.
Why is the buyback vital?
Asset buybacks within the crypto market are similar to stock buybacks in traditional markets.
The strategic move often signals the team’s confidence in the asset’s future potential.
For OM, today’s $25 million repurchase shows Mantra and its funders project impressive performance from the native token in the coming times.
Institutional participation is vital as it legitimises the project.
Mantra’s buyback program demonstrates the project’s dedication to long-term growth and utility.
For the Mantra blockchain, which focuses on real-world assets (RWA) tokenisation, the program aligns with future growth goals.
The buyback guarantees ecosystem stability while magnifying OM’s utility as the primary token bridging blockchain solutions with TradFi.
Inveniam’s $20M bet adds momentum
While the buyback is a bold signal, the $20 million investment from Inveniam IO validates the development.
Inveniam is known for valuing and digitising real-world assets like real estate.
Meanwhile, it brings rich experience and funds that would supercharge Mantra’s vision of bringing finance on-chain.
The team highlighted:
Together with Inveniam IO’s recent $20M investment, total commitments now reach $45M – reinforcing strong institutional confidence in OM’s long-term value, Mantra’s wider RWA ecosystem, and work to bring the world on-chain.
Now, Mantra has $45 million in new funds and support dedicated towards expanding the ecosystem.
That’s a massive amount, especially as most cryptocurrency projects struggle to attract institutional funding.
OM price outlook
Mantra’s native token exhibited mild bullishness on its daily chart.
However, the latest announcement triggered a swift 6.79% jump from $0.2327 to $0.2485.
It trades at $0.2394 after cooling from intraday highs.
The 100% uptick in 24-hour trading volumes indicates renewed trader and investor enthusiasm.
OM looks poised for further gains in the near-term, but broader market sentiments weigh.
Sellers control the current momentum as Bitcoin struggles to close above $112,000.
Sudden broad market dips in the upcoming hours might erase OM’s daily gains.
However, continued bullish actions will support extended rallies for the altcoin.
Analyst Michael van de Poppe predicts significant rebounds for the market, especially altcoins.
A massive bullish divergence indicating that we’re reversing on the #Altcoin markets. That also means that buying the dip is highly interesting.
He believes the current downtrends offer an opportunity to enter at discounted values.
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