The price of Mantra (OM) has experienced a significant decline this week, similar to other altcoins like Ethereum, Solana, and Cardano. OM fell to a low of $0.8160 on Friday, marking a drop of over 25% from its highest point this week.

Added to a New RWA Fund

Despite some positive ecosystem news, Mantra’s OM token still faced a decline. The developers announced that the token had been added to Swissborg’s Real World Asset (RWA) thematic basket. This basket includes other notable tokens in the RWA industry, such as Synthetix Network, VeChain, Chainlink, Maker, and Polymesh Network.

Swissborg is a significant player in the crypto industry, with nearly 800,000 users and over $1.26 billion in assets. Its token holds a market cap of over $187 million in assets.

SwissBorg, a leading blockchain-based crypto wealth management platform, now includes MANTRA’s OM Token in their RWA Thematic – an investment basket of top crypto projects in the real-world assets vertical.

Meanwhile, Mantra’s assets have seen a considerable increase in the past few weeks. The platform now boasts over $46.3 million in assets, up from $7 million at the beginning of the year. Additionally, Mantra has recently expanded its operations to the UAE.

Mantra TVL

With a market cap exceeding $650 million, Mantra is a major player in the tokenization industry. The platform facilitates the seamless fractionalization and tokenization of real-world assets (RWA), an industry projected to grow to over $10 trillion in the coming years.

The price of Mantra (OM) peaked at $1.0960 earlier this month but has since dropped by over 25% amid a broader altcoin sell-off. It has fallen below the critical support level of $1, which was its highest swing on June 5.

The token has also slipped below the 50-day and 100-day moving averages, indicating that bearish trends are taking hold. It was trading at $0.8095 but has remained above that level since June 3. This level is significant as it was the highest swing point in April and May.

A drop below this level could indicate further downside, suggesting that bears have taken control. If this occurs, the price could potentially fall to $0.7620.

For more updates and news on cryptocurrencies, investing, and finance, stay tuned to Global Crypto News.

Post Views: 9