MANTRA, a real-world asset (RWA) layer-1 blockchain, has recently outperformed major cryptocurrencies, posting an 11% gain. The native OM token reached $0.89 on Thursday, recovering from a drop to $0.68 on Wednesday.

MANTRA Surges After Major RWA Partnership

Launched in October 2020, MANTRA’s native token has experienced a shift in market sentiment as the RWA narrative gains traction. A significant bullish trend emerged on July 3, following a partnership announcement with MAG Group Holding, a prominent UAE real estate conglomerate. This collaboration aims to tokenize $500 million worth of real estate assets, allowing investors to earn yields in stablecoins and OM tokens.

“By combining MANTRA’s secure RWA-focused blockchain with MAG’s established presence in the UAE’s real estate market, we aim to unlock the full potential of RWA compliance within the Middle Eastern region and beyond,” MANTRA stated.

Following this announcement, the OM token surged and continued to outperform the top 100 cryptocurrencies by market cap. According to CoinMarketCap, MANTRA is currently the top gainer, surpassing Pendle (PENDLE) and Safe (SAFE), both of which posted gains of less than 2% in the past 24 hours.

With prices holding near the $0.80 level, OM is poised to reach a new all-time high if the bullish trend persists. The token previously hit its ATH of $1.09 on June 10, 2024, fueled by another partnership in the UAE.

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