Mantle (MNT) is currently trading at around $1.04, experiencing a 6% increase in the last 24 hours in tandem with Bitcoin’s surge above $71,000. The cryptocurrency’s daily trading volume has risen by 110% to over $130 million during this period, making it one of the top performers among the top 100 coins by market cap.
The recent rise in MNT price coincides with Bitcoin’s upward movement, as investors capitalize on bullish trends, with spot BTC ETFs seeing consistent net inflows for the 11th consecutive trading day. Analysts are optimistic about Bitcoin’s future, and the approval of spot Ethereum ETFs could further contribute to MNT’s upward trajectory.
MNT saw a significant surge of over 40% in March, surpassing $1 and reaching an all-time high above $1.50 in April. Factors such as its listing on South Korea’s Upbit exchange and the introduction of the Mantle Rewards Station have contributed to its positive sentiment.
Although MNT price experienced a dip below $1.40 in mid-April, recent developments in the SocialFi and gaming dApps sector suggest a potential for a new rally. Mantle’s announcement of a $5 million ecosystem fund to support projects like MetaCene, Blade Games, Co-Museum, and Fingerlabs has strengthened its protocols across various areas such as lending, liquid staking, DEX, yield, and RWA.
Data from DeFiLlama shows that the Total Value Locked (TVL) across these projects has nearly doubled in the past month, with Mantle’s TVL currently standing at around $463 million, up from approximately $252 million in early May.
June 2024, Cryptoniteuae
