Mantra tokens have shown significant growth amid decreasing exchange reserves and growing investor interest.
Current Mantra Price Dynamics
This week, the price of OM tokens rose to $7, representing a 20% increase from the beginning of the month. The main catalyst is the continued withdrawal of tokens from centralized exchanges.
Decrease in Exchange Reserves
Data from Nansen shows that OM exchange reserves dropped by more than 7% over the past week, down to 345.94 million. This decrease suggests that token holders are favoring self-custody over selling.
Expectations and Price Growth Prospects
Interest in OM is also reflected in the rising open interest in the futures market. According to CoinGlass, open interest rose to over $356 million, typically seen as an optimistic signal for the token's future. Mantra also secured an operating license in Dubai and struck a deal to tokenize over $1 billion in assets.
Mantra's success, combined with strong community and market confidence, fosters positive expectations for the future growth of the token.
