MNT, the native token of the Mantle Network, an L2 tech stack for scaling Ethereum, has risen more than 11% in the last 24 hours, hitting monthly highs and surpassing the $0.8 price level in the same time period.
According to CoinMarketCap, the cryptocurrency trading volume has grown by 12.24% and currently stands at $245 million, while MNT has a market cap of $2.8 billion, making it the 31st largest digital asset by market valuation. The total supply of MNT tokens is 6.2 billion MNT, and the circulating supply is 3.2 billion MNT, with each token priced at $0.8590 at the time of writing.
MNT has gained 24.27% in the last seven days, followed by a 3.98% jump in the last month. The altcoin’s daily chart, courtesy of TradingView, shows a significant increase in buying demand with six consecutive bullish daily candles.
Meanwhile, the Relative Strength Index (RSI) is estimated at 64.29, confirming that bulls are currently in control of the price action. The RSI gradient suggests that higher prices are definitely possible in the short term. Moreover, accumulation/distribution signals confirm that investors are accumulating altcoins at a faster rate, and prices may continue to rise in the near future.
According to the Mantle (MNT) price prediction by Coinedition, the altcoin is expected to end 2024 at $4.75. However, by 2027, the cryptocurrency is expected to fall to $5.28, but a recovery may occur in 2028, and if the project continues to develop and attract more users, MNT will be worth $13 by 2030 after reaching $10 in 2029.
Mantle uses a unique infrastructure and provides investors with the ability to initiate faster transactions and pay lower fees compared to Ethereum Mainnet. Some of its competitors include ZKSync (ZK) and StarkWare.
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