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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Show more +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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