Main Points:
- Mantle Network’s native token, MNT, experiences a 12% price surge in the last 24 hours.
- MNT’s market capitalization is around $2.8 billion, ranking 31st globally in the cryptocurrency market.
- MNT’s trading volume increases by 12.7% to $240 million, with price fluctuating between $0.77 and $0.86.
- Mantle, formerly known as BitDAO, is an ecosystem investment DAO tied to Bybit, utilizing Optimistic Rollup to scale Ethereum.
- Mantle offers a platform for dApp developers on Ethereum network, attracting GameFi applications and Web3 gaming team.
- Active addresses and new addresses trading MNT increase by 19% and 15% respectively over the past week.
- Whales accumulate MNT as large holders’ net flow surges by 134% in the last seven days.
MNT Price Surge and Market Position:
Mantle Network’s native token, MNT, has experienced a significant 12% price surge in the past 24 hours, reaching $0.8578. This surge comes amid a broader market decline, showcasing MNT’s resilience and strength.
Mantle Network Ecosystem and Optimistic Rollup Technology:
Formerly known as BitDAO, Mantle operates as an ecosystem investment DAO closely linked to Bybit. Utilizing Optimistic Rollup (ORU) technology, Mantle aims to scale Ethereum while retaining EVM compatibility. This makes Mantle an appealing platform for dApp developers seeking a secure and scalable environment for their projects.
Growth in Active Addresses and Whale Accumulation:
The increase in daily active addresses trading MNT by 19% and new addresses by 15% signifies a growing interest in the asset and overall network activity. Furthermore, the surge in large holders’ net flow by 134% indicates substantial accumulation by whales, suggestive of bullish market sentiment towards MNT.
