Bitcoin‘s price fluctuated between $42,050 and $43,000, continuing a 4-day trend of instability in the crypto markets. Despite the turbulence, investors are gearing up for the Manta Coin listing. Binance recently announced this new project, which could be a speculative favorite in these calm markets. Manta Network has surpassed Base, the fourth-largest Ethereum layer2 solution.
The network, offering a 4-5% annual yield on Ethereum and USDC assets, is now rewarding early adopters with an airdrop. Participants in Binance’s staking pool will also receive rewards. Manta, operating on zero-knowledge proof, reached a peak of 5.88 transactions per second on December 22, 2023, with over 4.52 million transactions in the last 30 days, indicating significant hype and potential for interesting price movements post-Binance listing.
According to L2Beat, Manta’s total value locked (TVL) has exceeded that of Coinbase’s Base network, surpassing $754 million, making it one of the most popular layer2 solutions. The growth in Manta’s TVL is evident and significant.
Users who locked ETH and USDC early in the blockchain will receive a total of 50 million Manta Coins. Binance will launch trading pairs, including TRY, on January 18. Manta’s use of Ethereum as a base layer and the rising popularity of zero-knowledge proofs suggest it has considerable potential. Several projects utilizing zero-knowledge proofs, such as Polygon’s zkEVM, ConsenSys’s Linea, and Mantle Finance, are worth watching in 2024.
Additionally, there’s growing interest in the restaking sector. Binance’s platform is expected to feature this token prominently in the days following January 18.