Mantra Token Surges to New All-Time High After Centralized Exchange Listing

Mantra, a high-performing **altcoin**, has reached a new all-time high, with its price jumping 37.59% to a record $8.20. This surge brings the year-to-date gains to over 100% and marks a 2,600% increase in the last 12 months, resulting in a market cap of over $7.6 billion.

Listing on Bybit Exchange Boosts Mantra Token

The listing on Bybit, one of the largest centralized exchanges (CEX) in the crypto space, has contributed to the token’s surge. As part of the listing, users will compete for a 120,000 OM prize pool, valued at over $912,000. Mantra’s volume on Bybit has jumped instantly, with the 24-hour volume reaching $36 million, while its combined volume across CEX and DEX exchanges has risen by 267% to $755 million.

Upcoming Airdrop and Tokenization Demand Fuel Mantra Price

The Mantra price has also been driven by an upcoming airdrop, which aims to reward genuine holders of the OM token with 50 million OM tokens, valued at over $375 million. Additionally, the ongoing demand for real-world asset (RWA) tokenization is contributing to the token’s surge. Prominent firms like Blackrock, Apollo Global Management, and Franklin Templeton have already launched their tokenized products.

Mantra’s Tokenization Solutions Gain Traction

Mantra has recently entered a deal to tokenize a $1 billion real estate portfolio for DAMAC, a giant Dubai company. A successful launch of this project is expected to lead to more demand for its solutions from other real estate companies. Ondo Finance has also launched a network to facilitate the tokenization of American stocks, providing global investors with access to U.S. equities and bonds.

Mantra Price Analysis

The daily chart shows that the OM price has performed well this year, currently trading at its all-time high. The coin has flipped the crucial resistance level at $6.4637 and remains above all moving averages, with the Average Directional Index (ADX) indicating strong momentum. As a result, the Mantra price may soar as bulls target the next psychological level at $10.

What is Mantra?

Mantra, founded by CEO John Patrick Mullin, focuses on the tokenization of real-world assets (RWAs) such as real estate, bonds, commodities, and precious metals. The multi-chain ecosystem is built using the Cosmos SDK and offers a Layer 1 blockchain that enables developers to create decentralized applications (dApps). The native token, OM, serves multiple purposes within the Mantra ecosystem, including staking, governance, and facilitating transactions.

Karma Protocol and Staking Rewards

Mantra’s Karma Protocol is a user ranking system that grades participants based on their actions within the ecosystem. Positive behaviors, such as timely loan repayments, increase a user’s karma score, leading to benefits like higher staking rewards and reduced fees. Users can stake OM tokens to earn rewards, participate in governance decisions, and access DeFi services.

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