OM is in the spotlight after posting strong gains as the MANTRA ecosystem moves toward a major chain upgrade and token rebrand.
The token recently climbed by nearly 6% in 24 hours, trading around $0.066, with daily volume surging past $30 million.
That spike in activity comes as the project prepares to complete its transition from OM to MANTRA, a move that will reshape the token’s structure and identity.
The rally suggests that traders are positioning ahead of the upgrade.
It also reflects renewed attention around the project’s long-term direction.
MANTRA upgrade and 1:4 token swap
The MANTRA team has confirmed that OM will officially transition to MANTRA under a structured upgrade plan scheduled for completion in early March 2026.
At the centre of the shift is a 1:4 token redenomination.
For every one OM token held, users will receive four MANTRA tokens.
The process is designed to be non-dilutive, meaning the overall value of holdings will not change simply because of the swap.
Instead, the supply count adjusts while maintaining proportional ownership.
The rebrand also marks the final move away from the older ERC-20 version of OM.
MANTRA is consolidating around its native chain to simplify liquidity and eliminate confusion caused by multiple token formats.
Holders on supported exchanges will see their balances converted automatically once the swap is executed.
Those holding OM in private wallets on Ethereum or other EVM networks are required to migrate tokens before the deadline to remain eligible for the upgrade and avoid holding unsupported or stranded tokens after the conversion window closes.
This structured migration has drawn attention from major exchanges, several of which have already confirmed support for the swap and rebranding process.
As a result, deposits and withdrawals on various crypto exchanges are expected to be paused temporarily around the snapshot date to ensure a smooth transition.
Market reaction and price momentum
Although the old MANTRA native token, OM, remains down sharply from its all-time high of $8.99 reached in February 2025, the current rebound places it well above its October 2023 low near $0.017.
The tight chart timeframes show a clear pickup in momentum over the past two weeks.
Seven-day gains have reached double digits, while the 14-day rise has been even stronger.
That acceleration aligns closely with renewed discussion around the token swap and final upgrade timeline.
Market capitalisation currently sits just under $80 million, with a circulating supply of more than 1.17 billion OM.
While the token’s unlimited maximum supply remains a point of debate among investors, especially in a market that often favours capped assets, the immediate narrative is currently focused on the execution of the upgrade.
Investors appear to be weighing the risk of holding deprecated tokens against the opportunity presented by a unified chain and brand identity.
But whether the upgrading will translate into sustained price appreciation will depend on adoption, liquidity, and broader market conditions.
For now, traders are responding to clarity.
The defined swap ratio, the confirmed timeline, and exchange coordination have reduced uncertainty.
As the countdown to the March 2026 conversion continues, volatility is likely to remain elevated, although the momentum is clearly on the side of the bulls at the moment.
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