MANTA, the native asset of Manta Network, experienced a notable 25% increase in price over the last 24 hours, surpassing $3.25 early today. This surge followed a week-long consolidation around $2.6. The altcoin’s trading volume also soared by 103%, exceeding $800 million in the same period.
The price hike is attributed to the significant growth in the Total Value Locked (TVL) within the protocol, now exceeding $430 million. Manta Network has joined the ranks of the top 10 decentralized protocols alongside major players like Coinbase’s Base, Avalanche, and Polygon.
Manta Network’s success came shortly after MANTA’s launch on Binance Launchpad, mirroring the upward trend seen in other altcoins like Xai (XAI) that were also introduced on Binance Launchpad.
Powered by Celestia’s modular data availability and leveraging Polygon’s development stack, Manta Network stands out by offering a modular blockchain supporting two key crypto technologies: Zero-Knowledge (ZK) proofs and Ethereum Virtual Machine (EVM) compatibility through its platforms Manta Atlantic and Manta Pacific. These platforms contribute to Manta Network’s success, drawing market attention and establishing it as a formidable player in the decentralized protocol space.
After reaching $3.25, MANTA’s price retracted by approximately 20%, trading at $2.95 with an 8.63% increase at the time of writing. Market experts suggest a potential pullback to $2.70, with analyst Crypto Tony advising investors to take profits, anticipating a retest of the $2.70 support area.