On January 24, the price of Manta Network’s native token skyrocketed to a new record high, reaching nearly $3 within days of an airdrop for early supporters. Manta Network (MANTA) experienced significant gains, with the cryptocurrency trading at around $2.89 at the time of writing, as per CoinMarketCap. Within 24 hours, the token surged by 30%, with its trading volume surpassing $500 million on platforms like Binance.

Manta’s market capitalization has propelled the coin into the top 100 cryptocurrencies in the market. Additionally, the protocol’s total value locked (TVL) has seen substantial growth since its launch in January.

According to DefiLlama, Manta currently boasts a TVL of over $430 million across various blockchains, positioning it as one of the top 10 decentralized protocols, trailing behind networks like Coinbase’s Base, Avalanche L1, and Polygon.

Manta recently launched its token via the Binance Launchpad, becoming the 44th cryptocurrency on the platform. Similar protocols like Xai have experienced positive price movements following their launch via the Binance Launchpad.

With a foundation built on Celestia’s modular data availability solution and Polygon’s developer stack, Manta offers users a versatile blockchain supporting zero-knowledge (zk) technology and Ethereum Virtual Machine (EVM) compatibility.

The protocol operates through two platforms: Manta Atlantic and Manta Pacific, marketed as a Polkadot-based zk L1 network and a layer-2 blockchain with EVM support, respectively.

Early adopters and supporters were reportedly rewarded with an airdrop, a common practice among emerging crypto protocols to attract users and participants in decentralized finance. Airdrop recipients received generous amounts of free MANTA tokens after engaging in network activities.

Despite facing a DDoS attack following the airdrop event, Manta Network swiftly addressed the cyber siege and resumed normal operations.

For more updates on Manta Network and other cryptocurrency news, stay tuned to Global Crypto News.

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