The partnership between cryptocurrency exchange Bybit and the Mantle project has gained attention and caused noticeable market changes. This article reviews key aspects of this collaboration.
Market Reaction
The partnership was announced on August 5, leading to a price increase of over 50% for the MNT token. As of writing, the price of MNT reached $1.28. Additionally, during the Bybit x Mantle AMA session, the price rose to $1.18, marking a 67% gain within a month.
Mantle Ecosystem Growth
Following the announcement, the total value locked in the Mantle ecosystem increased by nearly 25%, exceeding $1.6 billion. The project is actively expanding its ecosystem by implementing new protocols, including mETH and Function FBTC, and creating a financial ecosystem that links traditional and decentralized finances.
Forecasts and Future Targets
Experts predict that the MNT price may continue its rise within the range of $1.50 to $1.60 in the short term. If support at the $1.10 level is maintained, this will facilitate further upward momentum for Mantle.
The Bybit and Mantle collaboration has not only lifted the market performance of the token but also strengthened its fundamental values and level of adoption. This creates significant prospects for the project's future development.
