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Why is MANTRA (OM) Price Up By 60%?

Rene Peters Rene Peters
January 22, 2024
Mantra (OM) Price Set to Explode as Liquidity Grab Hints at Massive Bull Run!

MANTRA DAO (OM), the native token of the MANTRA decentralized finance (DeFi) ecosystem, staged an eye-popping rally over the last 24 hours, gaining 60% to trade around $0.11. Trading volume also exploded, rising over 1,700% to $132 million.

This parabolic upside move vaulted OM among the top gainers on leading cryptocurrency exchange Binance. However, the exact catalyst behind this sudden vertical rally remains unclear for now.

Crypto trader Captain Faibik shared a tweet showcasing the token’s notable surge recently.

Fundamentals Remain Strong

While the short-term price action appears driven by momentum, the long-term fundamentals remain bullish for MANTRA DAO. As a regulated and compliant blockchain project focused on DeFi, MANTRA stands out for its focus on transparency and regulatory approval.

Specifically, MANTRA encompasses an institutional-grade blockchain infrastructure, the MANTRA Chain protocol optimized for regulated digital assets on Cosmos, and the MANTRA Finance DeFi platform aiming to bridge CeFi and DeFi. This unique full-stack ecosystem could be gaining increasing attention among investors.

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The surge comes amid slumping market conditions, with BTC and ETH down in the last 24 hours. With altcoins often outpacing Bitcoin during such bullish swings, tokens like OM can quickly magnetize speculators. Whether OM’s momentum proves sustainable remains questionable, but its fundamentals and niche focus on regulated DeFi could offer long-term upside if adoption continues growing.

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Rene Peters
Rene Peters

Rene Peters is editor-in-chief of CaptainAltcoin and is responsible for editorial planning and business development. After his training as an accountant, he studied diplomacy and economics and held various positions in one of the management consultancies and in couple of digital marketing agencies. He is particularly interested in the long-term implications of blockchain technology for politics, society and the economy.

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