Mantle

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Mantle (<a href="https://crypto.news/price/mantle/">MNT</a>) reaches a new all-time high as investors show an accumulation pattern amid bullish market conditions. 
Mantle’s price has registered a slight decline after reaching a new all-time high of $1.29 at around 05:30 UTC on March 27. MNT is still up by 28% in the past 24 hours and is trading at $1.18 at the time of writing. The asset’s market cap grew to $3.8 billion, making it the 33rd-largest digital currency. 
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 <img loading="lazy" decoding="async" width="1024" height="347" src="https://crypto.news/app/uploads/2024/03/Mantle-MNT-12.41.36-27-Mar-2024-1024x347.png" alt="MTL reaches new ATH, short-term accumulation skyrockets - 38" class="wp-image-14261324">
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 MNT price, RSI, profit to loss ratio, active deposits and active withdrawals – March 27 | Source: Santiment
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Moreover, Mantle’s daily trading volume increased by 65%, reaching $410 million. Data shows that the majority of the token’s trading activity comes from the Bybit crypto exchange — roughly $312 million. 
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According to data provided by Santiment, the ratio of daily on-chain <a href="https://crypto.news/mantle-blocks-ftx-from-converting-43m-in-bit-tokens-to-mnt/">MNT</a> transactions in profit to loss has been consistently increasing over the past three days as the asset gained bullish momentum — currently sitting at 1.85. 
At this point, a wave of profit-taking movements would most likely be expected even though MNT doesn’t show any signs of overheating.&nbsp; 
Per Santiment, Mantle’s Relative Strength Index (RSI) surged from 43 to 58 over the past 24 hours. The indicator shows a slightly increased price volatility as the cryptocurrency might witness high on-chain activity. 
Data from the market intelligence platform shows that the number of active MNT deposits surged by 32% over the past day and is currently hovering at 70 unique deposits. 
However, the number of active <a href="https://crypto.news/trader-joes-franchise-merchant-moe-partners-with-mantle-for-defi-expansion/">Mantle</a> withdrawals rallied by 1,415% in the past 24 hours — rising from 43 to 651 unique withdrawal transactions from all exchanges. 
The trend typically shows a short-term accumulation pattern while large whale movements should still be expected. 
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MTL reaches new ATH, short-term accumulation skyrockets

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