According to @glassnode, Mantra experienced a sharp price collapse, dropping below $1 within hours. The on-chain analysis revealed significant changes in exchange flows and holder concentration. A high volume of Mantra tokens moved to exchanges, indicating potential sell-off pressure. Additionally, the concentration of holdings shifted, suggesting a redistribution among wallets. The realized cap metric also showed a decline, reflecting reduced profitability among investors. Furthermore, user activity metrics indicated increased transaction volumes, possibly due to panic selling.