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Upbit’s recent listing of MANTRA (OM) resurrects investor sentiment after a significant market crash, signaling renewed interest in crypto trading.
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This strategic move is accompanied by a substantial uptick in trading volume, hinting at a revitalized market engagement.
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“The listing is a critical step toward regaining trust,” stated John Patrick Mullin, CEO of MANTRA, reflecting on the recent challenges.
Upbit has listed MANTRA (OM), leading to a 15.7% price surge and 154.4% increase in trading volume as the crypto market rebounds.
MANTRA (OM) Secures Upbit Listing
Following a tumultuous period marked by a catastrophic price crash, MANTRA (OM) has secured its listing on Upbit, South Korea’s leading cryptocurrency exchange. Trading for OM will commence on May 21 at 15:00 Korea Standard Time (KST).
According to Upbit’s official announcement, “Supported Markets: KRW, BTC, USDT Market. Trading opens at: 2025-05-21 15:00 KST,” asserting the exchange’s commitment to fostering diverse trading options.
Data from COINOTAG indicates that this listing catalyzed a 15.7% price surge for OM, pushing its value to approximately $0.44 at the time of writing. Additionally, the trading volume witnessed an impressive rise of 154.4%, underlining a significant market recovery.
MANTRA (OM) Price Performance. Source: TradingView
Notably, this listing comes in the wake of OM’s dramatic price erosion on April 13, 2025, where the token plummeted by 90%, resulting in $5.5 billion in market capitalization loss. Such forced liquidations during off-peak trading hours drastically impacted investor confidence.
In response, CEO John Patrick Mullin proclaimed a strategic initiative to burn his entire allocation of 150 million team tokens, in addition to collaborating with partners for a further burn of 150 million OM tokens, summing to 300 million OM removed from circulation. This approach aims at reducing supply and regaining trust among investors.
Meanwhile, in a simultaneous announcement, Upbit confirmed the listing of Access Protocol (ACS), GoChain (GO), Observer (OBSR), Quiztok (QTCON), and Rally (RLY), with these altcoins also benefitting from Tether (USDT) trading pairs beginning at 13:00 KST on the same day.
Market Response and Additional Listings
The market reacted energetically to these announcements, with GO and RLY initially soaring by 105.8% and 136.3% respectively within moments of the news. By press time, their gains adjusted to 52.1% and 21.8%, respectively, indicating a robust market response.
GO, RLY, ACS, OBSR, QTCON Price Performance. Source: TradingView
ACS showed an uptick of 12%, OBSR increased by 6%, and QTCON saw an 18% rise shortly after trading commenced. Even with slight corrections ahead, these movements illustrate an encouraging turn in market sentiment.
At the time of writing, ACS was up 5.3%, OBSR 3.0%, and QTCON 4.4%. These adjustments reflect a recovery in trading momentum and increased investor interest.
Notably, data from CoinGecko reveals that Upbit, with its comprehensive portfolio of over 240 coins, maintains a trust score of 8 out of 10, with a substantial 24-hour trading volume of $1.81 billion. This positions Upbit as a pivotal player in the global cryptocurrency landscape.
Conclusion
In conclusion, Upbit’s strategic listing of MANTRA (OM) alongside other significant altcoins marks a pivotal moment for both investor confidence and market dynamics. The sharp increase in trading volume and price showcases the potential for recovery following substantial setbacks. Moving forward, the industry will closely monitor how these developments influence broader market trends.
