The Mantra token price saw a slight increase on Friday as its staking reward neared an all-time high, and traders geared up for the next altcoin rally.

The Mantra (OM) token was trading at $1.2, marking an 8% rise from its lowest level this week and a significant 1,700% increase from its year-to-date low. This surge occurred as investors anticipated that Real World Asset (RWA) tokenization would become a major trend in the blockchain industry. Mantra has established itself as a key infrastructure project for RWA.

Mantra has made notable strides in recent months. For instance, the developers signed an agreement with a large Dubai-based real estate company to tokenize some of its projects.

The OM token’s performance has also been bolstered by the recently announced Genesis Drop, which will distribute 50 million tokens to qualifying users. Eligible recipients include Mantra’s NFT holders, early ecosystem contributors, and active community members.

Another factor contributing to Mantra’s rise is its higher-than-average staking rewards. Data indicates that nearly 50% of all OM tokens in circulation have been staked, and the number of Mantra wallets has increased.

Mantra’s staking reward has now reached a record high of 21.21%. This means a $100,000 investment in OM could yield $21,200 annually.

Among the top cryptocurrencies, Mantra offers the highest staking reward. Comparatively, Toncoin yields just 2.56% with a staking ratio of 25.23%, while Tron yields 4.15%, and Avalanche offers a 7.95% yield.

Unlike many cryptocurrencies, Mantra is unlikely to experience substantial dilution since its current circulating supply of 837.5 million tokens is close to its maximum supply of 888 million tokens.

Meanwhile, some analysts predict another altcoin breakout in the coming months. Ki Young Ju, the founder of CryptoQuant, noted in an X post that the limit buy order volume for altcoins, excluding Bitcoin and Ethereum, is on the rise.

Whales are preparing for the next altcoin rally. Limit buy order volume for altcoins, excluding Bitcoin and Ethereum, is increasing, indicating strong buy walls are being set up.

A potential catalyst for cryptocurrencies and stocks could be the Federal Reserve, which is expected to start cutting interest rates in September. The likelihood of a rate cut increased after the US released weak jobs numbers, with the unemployment rate rising to 4.3%, its highest point since 2021.

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