South Korean cryptocurrency exchange Upbit has announced new trading support for Mantra (OM) across KRW, BTC, and USDT markets, expanding access to the RWA-focused token. This development follows OM’s turbulent price history, which saw a 90% collapse in April 2025 after reaching a $6.22 all-time high earlier that year.
The newly added pairs – OM/KRW, OM/BTC, and OM/USDT – position Upbit as the first major Asian exchange to offer direct fiat trading for Mantra’s token. This comes three months after Bybit’s February 2025 listing, which triggered a 27.9% price surge within days according to market data.
Market observers note OM’s trading volume spiked to $512 million during its February rally, though the token later crashed to $0.37 during April’s liquidation crisis that erased $5.5 billion in market value. Upbit’s move signals renewed institutional interest despite these volatility challenges.
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Mantra (OM) Ecosystem Overview
Mantra’s blockchain protocol specializes in real-world asset tokenization, with OM serving as both governance and utility token. The project reached a $5.77 billion market cap at its February peak, though this valuation plummeted during April’s market turmoil.
Key OM metrics as of February 2025:
| Metric | Value |
|---|---|
| Circulating Supply | 970.91M OM |
| All-Time High | $6.22 |
| 24H Volume (Peak) | $512.85M |
Upbit’s Strategic Expansion
As Korea’s largest crypto platform handling $2.4 billion daily volume, Upbit’s OM listing follows its pattern of supporting emerging Layer 1 projects. The exchange previously drove similar liquidity boosts for tokens like Axie Infinity and Theta Network through KRW pairings.
An Upbit spokesperson stated: “Our new OM markets align with growing demand for RWA solutions in Asia’s institutional sector.” The exchange’s announcement page confirms trading will commence May 22, 2025.
Exchange Listings and Market Impact
Bybit’s February listing included a 120,000 OM prize pool incentive program, while Crypto.com added support later that month. Analysts at CoinMarketCal noted such listings typically increase a token’s accessibility by 300-500% across retail trading platforms.
The consecutive exchange integrations created a volatile price trajectory:
- Feb 4: $6.22 ATH after Bybit listing
- Feb 16: 27.9% weekly surge
- Apr 14: 90% crash to $0.37
Market analysts remain divided on OM’s outlook, with price predictions ranging from $2.22 to $25 for late 2025. The token’s recovery to $1.92 at press time suggests cautious optimism following Upbit’s announcement.
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The Upbit listing could help stabilize OM’s market position by attracting Korean institutional investors, who control an estimated 38% of Asia’s RWA token investments. While the April crash remains a cautionary tale, improved exchange liquidity may reduce future volatility risks for this emerging Web3 asset class.
