Mantle Network Sees 354% Year-Over-Year Growth in Total Value Locked

Mantle Network experienced significant growth in the fourth quarter of 2024, with its total value locked (TVL) surging by approximately 354% year-over-year and 36% quarter-over-quarter. This growth was largely driven by an expanding user base and heightened activity throughout the ecosystem, especially its DeFi sector.

Mantle TVL Surge Driven by mETH

The surge in Mantle’s TVL was largely driven by the growth of mETH, which emerged as a dominant player in Ethereum liquid staking within its first year. mETH reached a peak TVL of approximately $2.19 billion, securing its position as the fourth-largest liquid staking token on Ethereum. As an incubated project by Mantle’s team, mETH was deployed on Ethereum while remaining under Mantle’s governance, enabling seamless integration with the broader Ethereum ecosystem.

Treasury Value Growth and Technical Advancements

Mantle’s treasury value grew by 52.56% in Q4, rising from roughly $3.00 billion in Q3 to $4.62 billion by the end of 2024. This increase was primarily fueled by the appreciation of the Mantle token, which accounted for nearly 88.85% of the treasury’s total value.

On the technical front, Mantle Network advanced its infrastructure by:

  • Integrating ERC-7683 and Chainlink’s cross-chain interoperability protocol to enhance cross-chain functionality
  • Adopting OP Succinct to transition from optimistic to zero-knowledge rollups for improved scalability and finality
  • Implementing Safe{Core} multi-signature solutions for enhanced security

Mantle also collaborated with BlockSec to strengthen protocol security and took proactive measures to protect users from phishing threats.

Current Market Performance

Mantle’s native token is currently trading at $1.07, with a market capitalization of $3.6 billion.

As the cryptocurrency market continues to evolve, it’s essential to stay informed about the latest developments and trends. For more news and updates on the crypto space, visit Global Crypto News.

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