Recent Developments
Synergy Program with TON Ecosystem
Mantle has partnered with the TON (Telegram Open Network) ecosystem to launch the Synergy program. This initiative aims to:
- Enhance cross-chain connectivity: Develop solutions for seamless integration between TON and EVM-compatible chains.
- Improve interoperability: Enable more efficient communication and transactions across these ecosystems.
This collaboration could position Mantle for greater adoption in the cross-chain ecosystem.
Ecosystem Growth
Projects on Mantle
- Currently, 125 projects are being developed on Mantle, with 3 new projects added in the past month.
- Mantle's market capitalization is now $175.44 billion, reflecting a 5% increase over the last 30 days. While this growth is modest, it indicates stability within the ecosystem.
Total Value Locked (TVL)
Mantle's Total Value Locked (TVL) surged by 47%, rising from $467M to $627M.
- This growth elevated Mantle's ranking from TOP 13 to TOP 10 among EVM-based blockchains by TVL.
- The rise demonstrates strong ecosystem activity and trust in Mantle's infrastructure.
Trading Volume and Holders
Trading Volume
- In September, Mantle's trading volume dropped slightly from $2.465B to $2.274B in October.
- However, daily trading volumes have recently increased by 100%-200%, signaling renewed interest and activity in the token.
Token Holders
- The number of MNT holders increased from 20.4K to 20.7K over the past month. This steady growth indicates gradual adoption and accumulation by investors.
Activity Metrics
Transaction Count
- The total number of transactions fell from 11.6M in September to 9.9M in October.
Active Addresses
- Active addresses declined from 66.1K in September to 37.2K in October.
- Encouragingly, in the first 15 days of November, active addresses rebounded to 43.7K, suggesting renewed engagement and the potential to surpass September's figures.
Mantle remains a TOP 8 project among Layer 2 solutions based on transaction volume, further solidifying its presence in the blockchain ecosystem.
Revenue and Fees
Mantle's revenue and fees saw slight declines compared to September:
- Fees: $140.6K (October)
- Revenue: $102.2K (October)
Despite this, the overall crypto market's positivity is starting to reflect in Mantle's performance, with both fees and revenue showing early signs of recovery.
Investment Perspective
Benefits of Holding MNT
Mantle offers several utilities that make it an attractive holding option:
- Launchpad & Launchpool Participation: MNT can be used on platforms like Bybit for participating in token launches.
- Staking Rewards: Stake MNT for 1%-1.5% weekly returns, providing a steady income stream in addition to potential price appreciation.
Risk Assessment
Holding MNT is considered a low-risk investment given its established ecosystem, increasing TVL, and active development. The current price levels remain attractive for accumulation.
Conclusion
Mantle’s ecosystem is showing healthy signs of growth, with key metrics like TVL and active addresses improving. Although trading volume and transaction counts have seen minor dips, the overall trajectory remains positive.
The partnership with TON and the focus on cross-chain interoperability could unlock new growth opportunities. Meanwhile, staking and participation in launch events provide additional value for investors. Mantle's current position presents a promising opportunity for long-term holders seeking steady returns with minimal risk.
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