The price of Mantle (MNT) token is experiencing a sharp surge, reaching a new high of $1.67. This event has attracted the attention of traders and analysts.
Current Surge and Analytics
The MNT token increased by 10% in the last day, becoming the top gainer in the market. Currently, it trades around $1.61, with a trading volume increase of 30%. Analyst Alex Wacy noted that MNT has risen more than 180% since July, breaking through a key resistance zone, indicating potential for further growth.
Factors Driving the Growth
The price hike of MNT is not coincidental. Key factors include:
- Economic growth of the Mantle ecosystem, where stablecoin supply hit a record of $713.8 million, up 210% year-on-year. - A 300% surge in network activity since September 7, which has heightened interest. - Investment backing and integration strategies from Bybit, acting as an additional demand stimulator for MNT.
Short-Term Outlook for Mantle
Currently, Mantle boasts a market cap of $5 billion with a fully diluted valuation of $9.6 billion. Traders are monitoring whether the price can hold above $1.60 and make a run toward $2 in the coming weeks. Some analysts suggest if current trends and ecosystem growth persist, MNT price could push towards $3 or even $3.50 in the coming months.
The rise in Mantle's price is driven by both technical and fundamental factors, including investments and increased token utilization. This growth has resulted in significant interest from traders and DeFi users.
