Mantle (MNT) has recently hit a new all-time high, reaching $1.29 on March 27 amid a bullish market trend. Although the price has slightly dropped to $1.18, it is still up by 28% in the last 24 hours. With a market cap of $3.8 billion, Mantle is now ranked as the 33rd-largest digital currency.

The daily trading volume of Mantle has increased by 65%, totaling $410 million, with most of the trading activity happening on the Bybit crypto exchange, accounting for around $312 million.

According to data from Santiment, the ratio of daily on-chain MNT transactions in profit to loss has been on the rise for the past three days, currently standing at 1.85. Despite the bullish momentum, a wave of profit-taking movements may occur, although Mantle does not show any signs of overheating.

Mantle’s Relative Strength Index (RSI) has increased from 43 to 58 in the past 24 hours, indicating slightly higher price volatility and potential high on-chain activity for the cryptocurrency.

Active MNT deposits have surged by 32% in the last day, totaling 70 unique deposits, while active Mantle withdrawals have seen a significant increase of 1,415%, rising from 43 to 651 unique withdrawal transactions across all exchanges.

This trend suggests a short-term accumulation pattern, with the possibility of large whale movements in the near future.

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