Mantra (OM) achieved a new all-time high (ATH) earlier today. Data indicates a significant increase in the number of active addresses.

OM briefly reached an ATH of $1.32 at around 01:15 UTC. Despite a price correction, the asset remains up by 21% in the past 24 hours, currently trading at $1.28. Over the past week, Mantra recorded a 39% rally, making it the top gainer among the leading 100 cryptocurrencies.

OM’s market cap surpassed the $1 billion mark, ranking it as the 69th-largest digital asset. Additionally, Mantra’s daily trading volume surged by 266%, reaching $80 million.

According to data from Santiment, the number of active Mantra addresses increased by 98% in the past 24 hours, rising from 157 to 310. This trend suggests that some OM holders are taking short-term profits while the token remains in a bullish zone.

Market intelligence data shows that Mantra’s total open interest increased from $36.7 million to $45.3 million over the past day. Such a surge in open interest often leads to high price volatility due to increased liquidations.

The total funding rate for OM is currently at a negative 0.007%, indicating that short-position holders are outnumbering long-position holders. Traders are expecting a pullback, and a further price increase could potentially result in at least $1.5 million in liquidations.

Mantra’s Relative Strength Index (RSI) is at 77, suggesting that the asset is overbought at the current price level. An RSI below 50 could place OM back in the bullish zone.

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