MNT, the native token of the Mantle Network, a Layer 2 (L2) technology stack designed to scale Ethereum, has experienced a notable surge of more than 11% in the past 24 hours, reaching monthly highs and surpassing the $0.8 price level within the same timeframe.
According to CoinMarketCap data, the trading volume of MNT has increased by 12.24%, currently standing at $245 million. The market cap of MNT is reported at $2.8 billion, ranking it as the 31st largest digital asset by market valuation. With a total supply of 6.2 billion MNT tokens and a circulating supply of 3.2 billion MNT, each token is priced at $0.8590 at the time of writing.
Over the past seven days, MNT has seen a significant climb of 24.27%, followed by a 3.98% increase over the past month. The altcoin’s daily chart on TradingView reveals a noticeable uptick in buyer demand, illustrated by six consecutive bullish daily candles.
The Relative Strength Index (RSI) currently sits at 64.29, indicating that bullish sentiment is dominating the price action. The RSI gradient suggests the potential for further price increases in the short term. Additionally, Accumulation/Distribution signals point to increased investor interest in the altcoin, hinting at possible continued price surges in the near future.
Coinedition’s Mantle (MNT) price prediction foresees the altcoin reaching $4.75 by the end of 2024. However, a dip to $5.28 is anticipated by 2027, followed by a potential recovery in 2028. If the project continues to evolve and attract more users, MNT could reach $10 by 2029 and hit $13 by 2030.
Mantle distinguishes itself through its unique infrastructure, offering investors faster transactions and lower fees compared to the Ethereum Mainnet. Competitors in this space include ZKSync (ZK) and StarkWare.
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