Pacific

Manta Network

Avalanche

Celestia

The price of Manta Network’s native token surged to a new all-time high on Jan. 24, changing hands for nearly $3 less than a week after an airdrop for early supporters. 
Manta Network (MANTA) saw double-digit gains as the cryptocurrency nestled around the $2.89 price level at press time, per CoinMarketCap. In 24 hours, the token increased by 30%, and its trading volume jumped above $500 million across venues like Binance. 
<figure class="wp-block-image size-full">
 <img loading="lazy" decoding="async" width="1717" height="1082" src="https://crypto.news/app/uploads/2024/01/Screenshot-207.png" alt="Manta gains 30% in 24 hours - 27" class="wp-image-14241969">
 <figcaption class="wp-element-caption">
 Manta price | Source: <a href="https://coinmarketcap.com/currencies/manta-network/" target="_blank" rel="noreferrer noopener">CoinMarketCap</a>
 </figcaption>
</figure> 
Manta’s market capitalization earned the coin a spot among the top 100 cryptocurrencies on the market. Additionally, the protocol’s total value locked (TVL) has grown in leaps and bounds since launching in January. 
According to DefiLlama, there is over $430 million worth of TVL on Manta across all blockchains. This makes it one of the 10 largest decentralized protocols right behind Coinbase’s layer-2 network Base, Avalanche L1, and Polygon, an Ethereum scaling solution.&nbsp; 
 You might also like: <a href="https://crypto.news/manta-pacific-utilizes-celestia-for-cost-efficient-layer-2-networking/"> Manta Pacific utilizes Celestia for cost-efficient Layer 2 networking </a> 
Manta has seemingly enjoyed this initial success shortly after <a href="https://crypto.news/binances-44th-launchpad-token-manta-slated-for-multi-exchange-rollout/" target="_blank" rel="noreferrer noopener">launching</a> its token via the Binance Launchpad as the 44th cryptocurrency on this platform. Other protocols like Xai launched in the same way saw ascending price movements in the days after rollout.&nbsp; 
Built with Celestia’s modular data availability solution and <a href="https://crypto.news/manta-network-transitions-to-polygon-cdk/" target="_blank" rel="noreferrer noopener">Polygon’s</a> developer stack, Manta offers users a multi-modular blockchain with support for two popular crypto technologies: zero-knowledge or zk and Ethereum Virtual Machine-compatibility, aka EVM. 
The protocol achieves this through two platforms namely Manta Atlantic and Manta Pacific. Together, the pair were marketed as a Polkadot-based zk L1 network and a layer-2 blockchain with EVM support respectively. 
<figure class="wp-block-image size-full">
 <img loading="lazy" decoding="async" width="1755" height="643" src="https://crypto.news/app/uploads/2024/01/Screenshot-208.png" alt="Manta gains 30% in 24 hours - 28" class="wp-image-14241970">
 <figcaption class="wp-element-caption">
 Manta TVL | Source: <a href="https://defillama.com/chain/Manta" target="_blank" rel="noreferrer noopener">DefiLlama</a>
 </figcaption>
</figure> 
Early testers and supporters were reportedly <a href="https://crypto.news/manta-network-emerges-on-top-trending-list-following-airdrop-news/" target="_blank" rel="noreferrer noopener">rewarded</a> with an airdrop, a distribution of free tokens common amongst burgeoning crypto protocols aiming to capture users and decentralized finance participants.&nbsp; 
Airdrop recipients were said to receive four-figure sums in free MANTA tokens after spending next to nothing farming the network. 
Following the event, Manta’s network was hit with a sophisticated <a href="https://crypto.news/manta-network-hit-with-now-resolved-ddos-attack/" target="_blank" rel="noreferrer noopener">cyber siege</a> known as a DDoS attack. However, the protocol tackled the assault and return operations to normalcy swiftly. 
 Read more: <a href="https://crypto.news/manta-network-recovers-from-cyber-attacks-as-money-laundering-claims-surface/"> Manta Network recovers from cyber attacks as money laundering claims surface </a>

Manta gains 30% in 24 hours

crypto.news

Other articles published on Jan 24, 2024

HashKey to launch three indexes tracking digital assets

Exchange: Coinbase stocks (COIN) risks a 35% drop… Here’s why

Celsius Transfers $40 Million Ethereum to Coinbase as ETH Dips to $2,200

Spot Bitcoin ETFs: Week 1 Performance Overview

Dogecoin (DOGE) Investors Shifting Towards Pandoshi (PAMBO)

Hut 8 Corp. challenges short-seller report, claims financial solidity

Join our free newsletter for daily crypto updates!