CandleFocus

Mantra is up 2,100% in 2024 as technicals point to more gains

Altcoin Mantra (OM) has experienced a strong rally, reaching a two-month high of $1.3155, while Bitcoin, Ethereum, and other altcoins dropped amidst geopolitical tensions. Mantra's rally aligns with the increase in its futures open interest, signaling strong investor demand. The surge may be driven by the impending launch of Mantra's mainnet, which is expected to make it an ideal network for developers in the Real World Asset tokenization industry. The network will have low transaction costs, compliance and security features, and access to the Inter Blockchain Communication protocol. Mantra's staking rewards, one of the highest in the industry, have also contributed to its rise. Technical indicators suggest further growth, with the next reference level at $1.4140, its all-time high.

Related News