Today, the price of the Mantle (MNT) token has significantly increased due to several factors, including the partnership with Bybit and whale activity.
Factors Behind MNT Price Increase
The price of Mantle has increased by over 11%, reaching around $1.36. The primary factor behind this rise is the expanding partnership with Bybit. On August 14, Bybit EU launched a MiCA-compliant staking pool, allowing MNT holders to earn rewards from a 100,000 XION pool.
Trading Data and Interest
The trading volume of MNT has decreased by over 7%, indicating that the price movement is not random. There has been an increase in interest from large investors. Between August 15 and 16, buying volume surged to 937K MNT, exceeding the 455K MNT in sales. Open interest in Mantle futures rose by 26%, surpassing $80 million.
Prospects and Price Predictions for MNT
According to analytical data, the price of MNT has been consolidating between $0.47 and $1.50. The recent surge has pushed the price to the upper boundary, which is now under close observation. A breakout above the $1.50 level could signal further price movements towards $2 and beyond.
The price increase of Mantle is driven by the expansion of its ecosystem through key partnerships and robust investor interest, shaping a positive outlook for the future.
