An increase of over 40% in Mantle (MNT) value has been observed within the past 24 hours, with the cryptocurrency reaching a new all-time high of $1.49.

Mantle Network operates as a Layer 2 (L2) blockchain designed to serve as a scaling solution for the Ethereum Virtual Machine (EVM) by integrating Optimistic rollups. This integration enables faster and more cost-effective transactions to take place on the network.

The unique modular structure of Mantle Network incorporates Optimistic rollups with a specific data availability layer, resulting in reduced transaction fees and improved overall network efficiency.

The recent rise in MNT value can be attributed to the introduction of MNT staking, which involves users contributing to the security and functionality of the network.

Key to this staking initiative is the Mantle Rewards Station, offering incentives to users who participate in staking MNT within the Mantle Ecosystem. This process commences with the Ethena event, where users receive mShards tokens that hold value within the Mantle decentralized finance (DeFi) ecosystem.

These tokens can be traded within the Mantle decentralized application (dApp) ecosystem, allowing users to leverage potential market opportunities and enhance liquidity within the network.

Recently, Mantle Learn was introduced by HackQuest as part of a strategic partnership with Mantle Network.

This article was originally published on Optimisus.