Token

DeFi

Mantle

Frenzy

<ul>
 <li>Mantle token (MNT) recorded a new all-time high of $0.9493, reflecting a 20% surge.</li>
 <li>If the current trend persists, Mantle is poised to reach the $1 mark soon.</li>
</ul>
The price of Mantle token (MNT) reached a new all-time high (ATH) of $0.9493 on Monday, February 26th, marking a 20% increase. This surge coincides with the heightened activity observed on Layer-2 DeFi platforms on the <a href="https://thenewscrypto.com/ethereum-eth-sets-eyes-on-3500-amid-continued-surge/" target="_blank" rel="noopener noreferrer nofollow">Ethereum blockchain</a> network in recent days. Ethereum’s impending Dencun upgrade, promising enhanced network security and scalability, has also prompted optimism within the DeFi space.
At the time of writing, Mantle traded at $0.8843, accompanied by a daily trading volume of $221 million, reflecting a remarkable surge of over 253% within the last 24 hours. MNT has also displayed bullish momentum over the past 7 months, climbing nearly 82%. Over the last month alone, the token surged by 40%, followed by a 13% increase in the past seven days.
Additionally, following its mainnet launch in July last year, Mantle’s Layer-2 network has seen significant expansion, ranking as the seventh largest Layer-2 chain and boasting a total value locked exceeding $211 million, based on CoinGecko data.
The significant performance of MNT may be attributed to the ongoing development of Mantle’s DeFi ecosystem, known as DeFi Paradise. DeFi Paradise comprises a suite of decentralized finance applications integrated into the Mantle network, possibly driving investor confidence and interest.
<h2 class="wp-block-heading" id="h-will-mantle-mnt-reach-1">Will Mantle (MNT) Reach $1?</h2>
According to the <a href="https://thenewscrypto.com/mantle-mnt-price-prediction/" target="_blank" rel="noopener noreferrer nofollow">daily price chart</a>, if the current trend persists, MNT could encounter immediate resistance at $1.2, potentially paving the way for further gains toward $1.5, thereby bolstering momentum for the token.
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/LUNUUTJpODTufhIH9KH0sk1BkSyXPTZOuxdx0ovmqcoHYsIHy9sUxIJ4R74poVIePqm-V86SELCvXQSLOZof_7EAz92zk3ddC0oIt1nGNnoesOTr3CLN1F6LbKSKxp9XN5v1AYwss_zDBh0SeBjl2Q" alt="">
 <figcaption class="wp-element-caption">Mantle (MNT) Price Chart (Source: <a href="https://in.tradingview.com/symbols/MNTUSDT/?exchange=KUCOIN" target="_blank" rel="noopener noreferrer nofollow">TradingView</a>)
 </figcaption>
 </figure>
</div>
Conversely, if the trend reverses, MNT could see initial support at $0.82, with the possibility of further declines to $0.76. If the downtrend develops, Mantle may face significant downward pressure, testing support levels around $0.64.
Alongside MNT’s surge, several other top DeFi tokens, including <a href="https://thenewscrypto.com/uniswap-v4-launch-update-ignites-uni-bull-rally/" target="_blank" rel="noopener noreferrer nofollow">UNI</a>, COMP, COTI, SUSHI, and AAVE, have also experienced notable price rallies and increased trading activity, reflecting the broader bullish sentiment within the DeFi market.

DeFi Frenzy Propels Mantle Token (MNT) to All-Time High

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TheNewsCrypto

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