After suffering a historic price collapse, Mantra’s OM is making a remarkable comeback. The altcoin plunged over 90% on April 13, falling from $6.30 to under $0.50 in hours.

However, it has bounced back with a 25% gain over the past 24 hours. OM is currently the market’s top gainer and is poised to extend its gains in the short term. 

OM Leads Market Gains With a 25% Jump

The sudden resurgence in investor interest in OM comes after an April 15 X post from Mantra CEO John Patrick Mullin, announcing plans to burn the team’s token allocation. 

While plans for the token burn are still being finalized, Mullin’s announcement has calmed market fears and revived bullish sentiment among some traders. This renewed confidence has prompted increased OM accumulation, driving the token’s price up by over 25% in the past 24 hours.

Key on-chain and market metrics support the rebound narrative. For example, the token’s open interest has risen sharply by 9%, indicating a surge in fresh capital entering OM positions in the past 24 hours. 

As of this writing, this stands at $156.74 million. When an asset’s open interest climbs alongside its price like this, it signals that new money is entering the market and that traders are opening fresh positions in the direction of the uptrend. 

Moreover, OM’s long/short ratio confirms this. As of this writing, it is currently at 1.02, highlighting the preference for long positions among futures traders.

An asset’s long/short ratio measures the proportion of its long positions to short ones in the market. 

A ratio above one like this means there are more positions betting on a sustained OM price rally than those opened in favor of a decline. 

Next Stop $2.64 or Back to January’s $0.09 Lows?

At press time, OM trades at $0.78, climbing 29% from April 13’s low of $0.50. With the gradual uptick in its buying pressure, the altcoin could maintain its current rally to trade at $2.64. 

However, if the bears regain market control and increase the downward pressure on OM, it could extend its decline and fall to $0.09, a low it last reached in January 2024. 

Binance co-founder Changpeng Zhao (CZ) announced a major deflationary milestone, confirming the completion of BNB Chain’s 31st quarterly token burn.

In total, 1.57 million BNB, valued at approximately $916 million, was permanently removed from circulation.

BNB Chain Burns $916 Million Worth of Tokens in 31st Quarterly Event

The BNB burn is part of BNB Smart Chain’s long-running commitment to reduce the token’s total supply and potentially bolster long-term value.

According to an official blog post, this quarter’s burn was completed successfully. The remaining total supply of BNB stands at just over 139 million. Former Binance CEO Changpeng Zhao echoed the update with a simple post on X (Twitter).

“$916,000,000 BNB burned,” CZ wrote.

They sent the tokens to a burn address, 0x000…dEaD, making them unrecoverable and effectively reducing the total supply.

The burn occurred under BNB’s Auto-Burn mechanism and marks one of the largest events in the chain’s history. Established under BEP95, BNB’s Auto-Burn system provides transparency and predictability. It adjusts the burn amount based on BNB’s market price and the number of blocks generated on the BNB Smart Chain (BSC) each quarter.

The goal is gradually reducing the token’s circulating supply to 100 million BNB. Once this happens, regular burns will cease.

Deflationary mechanisms are typically bullish, but the market reaction was tepid. BNB’s price slipped 2.11% over the past 24 hours, trading around $578.04 as of this writing.

Impact of BNB Burn on Market Sentiment

The muted response mirrors the aftermath of the 30th burn, suggesting that even billion-dollar reductions in supply are not enough to overcome broader market sentiment or investor fatigue. Meanwhile, community members expressed mixed feelings about the event.

“It actually pains me sometimes to see BNB burns! I know it’s part of the deflationary process… but it still hurts brother CZ,” crypto advocate Shahzad Quadri commented.

Meanwhile, others questioned the utility of such a large burn. Users asked CZ why the BNB chain did not redirect the funds toward marketing efforts.

“It’s not up to me. It was in the whitepaper. A promise is a promise,” CZ replied.

This statement resonated with community leaders, including a MEXC exchange KOL, who responded in a post.  

“Saw people wishing it wasn’t burnt. The only way is burning because if it is not burnt, the team won’t be keeping the promise on the whitepaper,” the KOL highlighted.

Changpeng Zhao added a touch of irony, seeming surprised by the size of the burn. Users asked whether this burn was separate from the ongoing gas fee burn introduced under BEP95.

“I have no idea. There are a few different automated burn mechanisms. I learned about this burn on X,” he chimed.

In addition to the quarterly Auto-Burn, BNB implements a real-time burn model that permanently removes a portion of gas fees from circulation. Since its inception, over 259,000 BNB tokens have been burned through this mechanism.

Furthermore, the BNB Pioneer Burn Program continues to cover user losses from accidental token misplacements. It uses quarterly burns to offset such events.

CZ has a personal investment, with 98.6% of his portfolio in BNB as of February. Still, the commitment to scheduled burns and BNB’s critical role across BNB Smart Chain, opBNB Layer 2, and BNB Greenfield blockchain reaffirms the long-term strategy to drive utility, governance participation, and ecosystem growth.

The BNB community is left watching price action, balancing hope in the deflationary model with the reality of market headwinds.

Gold prices have surpassed $3,300 per ounce, setting a historic high as global markets face heightened volatility.

This surge reflects investor anxiety over economic uncertainty and highlights the significant impact of controversial tariff policies under President Trump. Consequently, experts have issued conflicting forecasts on how this may influence Bitcoin.

What’s Driving Gold to Keep Breaking Records?

At the time of writing, gold has surged past $3,000, reaching a peak of $3,317. That marks a 25% increase since the beginning of the year.

According to a report in The New York Times, the global trade war is the primary force behind gold’s continued rise. Retaliatory tariffs among major economies are clouding the global economic outlook.

The US imposed new tariffs, quickly triggering countermeasures from China, the European Union, and Canada. In response, the White House escalated the situation further.

“While general uncertainty and deteriorating economic vibes are improving interest in gold, most of gold’s price action is around the uncertainty related to tariffs,” Helima Croft, head of global commodity strategy at RBC Capital Markets, said.

In addition, there are growing concerns that tariffs could directly target imported gold. This fear has led to gold stockpiling within the United States.

Business Standard reported that major banks like JPMorgan Chase and HSBC have been moving large quantities of gold from London to New York. JPMorgan alone plans to transport $4 billion worth of gold this month.

Besides the tariff war, macro analyst Zerohedge pointed to another factor—the Senate Budget Resolution for FY2025. This resolution allows the US to increase its budget deficit by up to $5.8 trillion over the next ten years. Zerohedge suggested that Gold is responding to this news.

The price spike reflects fears of currency devaluation due to ballooning deficits.

Goldman Sachs has also raised its year-end gold forecast to $3,700. The bank cited stronger-than-expected central bank demand and rising recession risks.

What Are Analysts Saying About Bitcoin as Gold Hits a New Peak?

While gold shines, Bitcoin, often called “digital gold,” has drawn mixed opinions.

Anthony Papillano, CEO of Professional Capital Management, told CNBC on April 15 that Bitcoin has dropped around 10% since the start of the year, while gold has gained 20%. However, both assets have risen approximately 35% over the past year.

He also outlined reasons why Bitcoin might soon rally like gold. These include the US government’s strategic Bitcoin reserve plans and the younger generation’s growing view of Bitcoin as part of a long-term investment strategy.

“History tells us Bitcoin’s returns will skyrocket past Gold in the coming months,” Papillano predicted.

Supporting this view, several analysts noted that Bitcoin often follows gold’s upward momentum with a lag of about 100 days, especially during increased global liquidity. Additionally, companies purchased more than 95,400 BTC in the first quarter of 2025, showing strong institutional demand.

However, not everyone agrees. Economist Peter Schiff, a long-time Bitcoin critic, offered a contrasting view. He claimed the best trade right now is to sell all Bitcoin and other cryptocurrencies and invest entirely in gold and silver mining stocks.