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<p>The crypto market began the week on a positive note yesterday. However, the surge seems to have cooled down. Amidst this market condition, Mantra (OM) is rising in a modest way.</p>
<p>Let us find out what has triggered the price surge for OM token. As of the latest <a href="https://coinmarketcap.com/currencies/mantra/" target="_blank" rel="noopener noreferrer nofollow">data</a>, Mantra’s OM token is trading at $0.8231. OM increased 6.69% from $0.7642 and hit $0.8385 during the 24 hours. OM is also up 14.4% in the last seven days.</p>
<h2 class="wp-block-heading" id="om-long-term-growth-and-market-position">OM Long-term Growth and Market Position</h2>
<p>Analyst JChains <a href="https://x.com/CryptoJChains/status/1807719032826548310" target="_blank" rel="noopener noreferrer nofollow">points out</a> that OM has demonstrated impressive 3,189% growth over the past year.&nbsp;&nbsp;</p>
<p>JChains identifies strong support for OM around $0.60 and resistance at $1.00, suggesting that the token may be in an accumulation phase. This pattern often precedes major price movements and could indicate growing investor confidence.</p>
<p><strong><em>Read more: <a href="https://captainaltcoin.com/kaspa-price-takes-a-breather-but-youtuber-explains-why-kas-is-the-only-bitcoin-rival/" target="_blank" rel="noopener noreferrer nofollow">Kaspa Price Takes a Breather, but YouTuber Explains Why KAS Is the Only Bitcoin Rival</a></em></strong></p>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/MANTRA?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#MANTRA</a> <br><br>I'm a permabull and anything <a href="https://twitter.com/hashtag/RWA?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#RWA</a> gets my attention this run. <br><br>But you can't run up this hard without some kind of retrace. <br><br>Current read on <a href="https://twitter.com/search?q=%24OM&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$OM</a> is a completed 1 going onto a wave 2. This structure is everywhere on <a href="https://twitter.com/hashtag/Altcoins?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#Altcoins</a> , but <a href="https://twitter.com/hashtag/OM?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#OM</a> is much later to the retrace… <a href="https://t.co/Ua0evDHF9R" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/Ua0evDHF9R</a></p>— Nology3000 (@nology3000) <a href="https://twitter.com/nology3000/status/1806728372170719308?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">June 28, 2024</a>
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<p>Analyst Nology3000 provides a more detailed technical perspective, suggesting that OM may have completed a Wave 1 and is moving into a Wave 2 correction.</p>
<p>This Elliott Wave analysis is common among altcoins, but OM appears to be later in its retracement compared to many others. Nology3000 notes that sustained action above $0.87 would invalidate this scenario.</p>
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<h2 class="wp-block-heading" id="fundamental-catalyst-expansion-to-base-chain">Fundamental Catalyst: Expansion to Base Chain</h2>
<p>The price surge can be attributed to a major announcement from MANTRA regarding its expansion to Base Chain. Key details of this development include:</p>
<ol>
 <li>Launch of an OM Liquidity Pool on Base Chain following DAO core proposal approval.</li>
 <li>Creation of the first OM Uniswap LP on Base Chain with deep liquidity, enabling seamless swaps with minimal slippage.</li>
 <li>Introduction of OM bridging capabilities with BASE, allowing users to participate in the MANTRA ecosystem on the new chain.</li>
 <li>Strategic positioning for early access to future MANTRA products launched on Base Chain.</li>
</ol>
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   <p lang="en" dir="ltr"><a href="https://twitter.com/hashtag/MANTRA?src=hash&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">#MANTRA</a> Launches <a href="https://twitter.com/search?q=%24OM&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$OM</a> Liquidity Pool on Base Chain.<br><br>Our DAO core proposal to launch an <a href="https://twitter.com/search?q=%24OM&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$OM</a> LP on <a href="https://twitter.com/base?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">@base</a> was approved, and we’ve now created the first <a href="https://twitter.com/search?q=%24OM&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$OM</a> Uniswap LP on Base Chain with deep liquidity, so users can seamlessly perform <a href="https://twitter.com/search?q=%24OM&amp;src=ctag&amp;ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">$OM</a> swaps with minimal slippage.<br><br><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/2705.png" alt="✅" class="wp-smiley" style="height: 1em; max-height: 1em;"> In addition,… <a href="https://t.co/DHI63JzrcR" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/DHI63JzrcR</a></p>— MANTRA – Tokenizing RWAs (@MANTRA_Chain) <a href="https://twitter.com/MANTRA_Chain/status/1808055632559292793?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow">July 2, 2024</a>
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<p>By establishing a presence within the Base Chain ecosystem, MANTRA is laying the groundwork for the seamless integration of future financial products.</p>
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<p>The post <a href="https://captainaltcoin.com/why-is-mantra-om-price-pumping-2/" rel="noopener noreferrer nofollow">Why is Mantra (OM) Price Pumping?</a> appeared first on <a href="https://captainaltcoin.com" rel="noopener noreferrer nofollow">CaptainAltcoin</a>.</p>

Why is Mantra (OM) Price Pumping?

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