The price of Mantle (MNT) has shown a significant increase over the past 24 hours, rising more than 24%, attributed to trader activity and recent updates in the Ethereum Layer 2 ecosystem.
Reasons for Mantle Price Increase
Mantle is currently trading around $0.9073 with a sharp increase in trading volume exceeding 200%. The price surge aligns with the broader momentum in the Ethereum Layer 2 tokens, further enhanced by the recent EigenDA V2 integration that improved data throughput. Additionally, the average exit queue time for Ethereum validators has shortened to 8.5 days, reducing selling pressure on the network.
Ecosystem Activity and Institutional Investments
Institutional participation is also contributing to the market dynamics. Reports indicate that Republic Technologies has added mETH, the liquid staking token of Mantle, to its balance sheet. SharpLink Gaming has reportedly accumulated 480,000 ETH through Mantle's ecosystem. These developments underscore the utility of MNT as a governance and fee token; however, some analysts caution that ETH-focused yield strategies may limit MNT's long-term price momentum. Social media also reflects growing confidence in the project, as indicated by recent user comments.
Technical Analysis and Mantle Outlook
On the 4-hour chart, MNT broke out from a rounded bottom formation, increasing from $0.75 to $0.92 before pulling back slightly. Current resistance levels are around $0.92–0.93, with the breakout point at $0.85–0.86 now serving as support. The RSI indicates a value of approximately 74.6, suggesting an overbought condition and potential consolidation ahead. If MNT remains above $0.86, it could pave the way for a psychological level of $0.96–$1.00.
The price increase of Mantle is driven by a combination of technical strength, ecosystem growth, and rising interest in L2 sectors. Traders are closely monitoring whale activity and UR platform developments for the next move in the market.
