Seamless

Ondo

World

KARMA

MANTRA

Mantra, the popular cryptocurrency for Real World Asset tokenization, bounced back on Tuesday, Sep. 3 after hitting a crucial support level. 
Mantra (<a href="https://crypto.news/price/mantra/" target="_blank" rel="noreferrer noopener">OM</a>) token price rose by 10% as it retested the important resistance point at $1 for the first time since Aug. 25. It has jumped by 15% from its lowest point on Monday. The token rose after the developer unveiled a new version of Mantra Zone, a platform that lets users earn rewards and explore on-chain activities.&nbsp; 
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 <a href="https://t.co/hWhz3xVRKb" target="_blank" rel="">https://t.co/hWhz3xVRKb</a> just got a new look. Visit the upgraded dashboard for: ✅ Seamless wallet connection. 🔥 Participation in ongoing onchain missions. 🧘 Depositing <a href="https://twitter.com/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="">$USDC</a> into the Chakra Pool to earn KARMA and exclusive rewards. 🕉️ Exploring the MANTRA ecosystem.… <a href="https://t.co/pMBn6JiOmQ" target="_blank" rel="">pic.twitter.com/pMBn6JiOmQ</a>— MANTRA – Tokenizing RWAs 🕉️ (@MANTRA_Chain) <a href="https://twitter.com/MANTRA_Chain/status/1830916043126059114?ref_src=twsrc%5Etfw" target="_blank" rel="">September 3, 2024</a>
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For example, users can invest in the Ondo Finance’s (<a href="https://crypto.news/price/ondo/" target="_blank" rel="noreferrer noopener">ONDO</a>) USDY liquidity pool and share part of the 888,888 OM that will be rewarded. Data shows that the pool has attracted over $2.19 million in assets. The pool has an <a href="https://mantra.zone/chakra-pool" target="_blank" rel="">estimated APR</a> of 576% 
Mantra token also rose as the network’s staking yield continued rising. According to <a href="https://www.stakingrewards.com/asset/mantra-testnet" target="_blank" rel="">StakingRewards</a>, Mantra has one of the highest yields in the crypto industry. Its staking reward rose to 21.17%, its highest point since Aug. 23, after bottoming at 20.9% in August. Its staking ratio also rose to almost 50% 
In contrast, Ethereum (<a href="https://crypto.news/price/ethereum/">ETH</a>) has a staking yield of 3.05% and a staking ratio of 28.40%, while Solana (<a href="https://crypto.news/price/solana/">SOL</a>) has a yield of 6.87% and a ratio of 65.54%. 
 You might also like: <a href="https://crypto.news/mantra-price-steady-as-staking-reward-rises/"> Mantra price steady as staking reward rises </a> 
<h2 class="wp-block-heading" id="mantra-price-has-found-a-strong-support">Mantra price has found a strong support</h2> 
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 Mantra price chart | Source: <a href="https://www.tradingview.com/symbols/OMUSD/?exchange=CRYPTO" target="_blank" rel="">TradingView</a>
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Mantra’s rebound happened even as sentiment in the crypto industry remained weak. Bitcoin (<a href="https://crypto.news/price/bitcoin/">BTC</a>) has remained below $60,000 while the valuation of all coins retreated to $2.07 trillion. 
Its recovery occurred after falling to $0.8675, an important support level that coincided with the ascending trendline connecting the lowest swings since June 25. It was also along the 100-day exponential moving average and the 38.2% Fibonacci Retracement point. 
Therefore, Mantra will likely continue rising as investors target the key resistance level at $1.090, its 23.6% retracement point. Conversely, a drop below the ascending trendline will point to more downside as bears target the first pivot support at $0.70.&nbsp; 
A potential risk for Mantra is that more traders are still shorting the token. According to <a href="https://www.coinglass.com/LongShortRatio" target="_blank" rel="">CoinGlass</a>, 50.75% of all traders are shorting the token, higher than Monday’s 49.9%. Its futures open interest of $17.7 million was also significantly lower than the July high of $37.4 million. 
 You might also like: <a href="https://crypto.news/mantra-om-reaches-new-ath-active-wallets-surge-98/"> Mantra (OM) reaches new ATH, active wallets surge 98% </a>

Mantra token holds above key support after dashboard upgrade

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