The price of the OM token associated with the MANTRA Chain has seen massive gains recently. The price has surged over 40% today, 110% in the last 7 days, and 231% in the past month. The trading volume has also spiked 146% in the last 24 hours, with the market capitalization increasing by 41%.
Driving Factors Behind Surge
@Tavv_Tavv provides context on key developments that are driving the price surge of OM. This includes the recent launch of $OM staking, which has resulted in 11% of the total supply already being staked. Staking rewards are attractive, at around 14.36% on Ethereum Mainnet, 41.35% on BNB Chain, and 19.12% on Polygon Mainnet.
There are also proposals to make OM the primary L1 token of Mantra Chain, which would further increase utility and demand. Additionally, an upcoming airdrop of SOMa tokens to OM stakers is resulting in further buying pressure. Together, these utility-enhancing developments are catalyzing the massive price gains for OM.
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Show more +Dubai Government Partnership Rumors
@Rahul_2503 reveals that rumors are circulating in crypto circles about MANTRA Chain potentially partnering with the Dubai government to offer real estate solutions on the blockchain.
If the partnership rumors prove true, it could provide further catalysts for surging demand and upside price action for the OM token. With the token already posting triple-digit percentage gains, crossing into billion dollar market cap territory seems feasible.
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