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How Did Mantle Achieve a 31% Surge Despite a Market Drop? Discover the Impact of RWA Adoption and the USD1 Deal!
In recent *mantle news*, Mantle (MNT) has emerged as a remarkable outlier in the crypto market, defying a broader downturn. The token surged by 4% on the day and an impressive 31% over the week, trading near $2.44 after reaching an all-time high of $2.47 on October 7. This surge can be attributed to several strategic developments that have positioned Mantle favorably in the decentralized finance (DeFi) landscape.
At the heart of this momentum is Mantle’s unveiling of a compliance-first suite for Real-World Assets (RWA) dubbed “Tokenization-as-a-Service” at Token2049. This initiative marks Mantle as one of the few ecosystems actively creating institutional-grade RWA infrastructure. Such advancements signal serious commitment and innovative solutions in a space increasingly focused on compliance and legitimacy.
Adding to this bullish sentiment, World Liberty Financial has announced that its USD1 stablecoin, which currently ranks as the sixth-largest stablecoin with a market cap of $2.6 billion, will be launched on the Mantle network. This partnership not only enhances Mantle’s credibility but also strengthens its DeFi and payment capabilities, providing a significant boost to its overall ecosystem.
Furthermore, the “Mantle × Bybit Roadmap” promises increased visibility as Bybit processes over $30 billion in daily trading volume. This partnership effectively connects Mantle to a vast global trading base, enhancing liquidity and market presence for the token.
Despite profit-taking activity observed in the market, the underlying demand for Mantle remains robust. Daily trading volumes have skyrocketed from a mere $125 million in early September to a staggering $612 million recently. This surge has nearly doubled Mantle’s market cap to $7.3 billion, propelling it into the top 35 cryptocurrencies by market capitalization.
Moreover, derivative markets are reflecting strong conviction among traders. Open interest for MNT futures rose by 26% to $4.85 billion, with funding rates remaining positive for an extended period. On the technical charts, MNT has demonstrated resilience by invalidating a textbook bearish pattern and establishing a bullish framework characterized by a “golden cross” between the 50-day and 200-day moving averages.
However, a cautionary note arises from the recent drop in “smart money” holdings, which fell by 49% over 30 days, bringing total holdings to 18.1 million MNT. This suggests some selective profit-taking, which could necessitate disciplined risk management strategies moving forward.
Key Levels: Can Mantle (MNT) Surpass $2.60?
From a technical standpoint, Mantle’s structure appears constructive. Immediate support levels are identified around $2.00 to $2.10, with a critical gap at $2.09. Maintaining prices above this range is essential for sustaining the higher-low sequence. The next psychological barrier is $2.60, a level that, if breached with high trading volume, could pave the way for a measured move toward $2.85 to $3.00.
Failure to reclaim the $2.60 level with rising volume could increase the likelihood of a pullback into the $2.20 range. Here, bullish traders will likely position themselves to defend momentum, especially in a market that appears to be softening.
Why This Matters: The Shift Toward RWAs
The transition from narrative to implementation regarding RWAs is gaining momentum, with Mantle clearly establishing its role in this transformation. With its compliance tools, the introduction of the USD1 stablecoin, and partnerships with centralized exchanges, Mantle is well-equipped to navigate this evolving landscape.
In a week where major cryptocurrencies faced challenges, MNT’s breakout highlights a significant rotation of capital toward networks that are delivering product-market fit and institutional-friendly solutions. If the RWA pipeline and USD1 liquidity arrive as scheduled, Mantle’s potential for sustained price discovery above its all-time highs remains promising.
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