Mantle (MNT) is down 4.31% over the last 24 hours and 35% over the past month, currently trading at $0.5768, despite the total value locked in the network having increased to $445 million after the February 11 launch of Aave V3 on Mantle.
Trading volume has jumped 64.1% to $49.39 million, showing active trading rather than passive movement. The current price is 79.75% below MNT’s all-time high of $2.85. Traders see the network’s growth as separate from short-term demand for the token.
Mantle TVL Hits $445M on Aave V3 and Treasury Inflows
Mantle’s total value locked rose from $333 million at the end of 2025 to $445 million by February 23, 2026. That increase followed the February 11 launch of Aave V3 through a partnership between Mantle and Bybit, which quickly accumulated $454 million in supplied assets, including USDT and wrapped ETH. Aave V3 now accounts for 40% of Mantle’s TVL.
A six-month incentive program drew sizable deposits, though low fees and muted volumes suggest a portion of that capital is reward-driven rather than organic transactional demand.
Earlier momentum built through Q4. Mantle DeFi TVL climbed 37.3% quarter-over-quarter to $332.7 million after Mantle Index Four activated $205 million in treasury deployment, closing the quarter with $173 million in AUM.
Additional data shared by the team shows that Merchant Moe remained the largest DEX on Mantle with $61.6 million in TVL and $162.2 million in 30-day volume, surpassing $5 billion in cumulative volume. Agnidex held $37.9 million in TVL and $80.1 million in 30-day volume. Ethena’s USDe reached a $122.6 million market cap on Mantle.
READ MORE: NVIDIA Stock Price Forecast: Flashes Alarming Signal Ahead of Earnings
Infrastructure continued to expand. Succinct Labs advanced Mantle’s transition to a zk rollup. USDT0 positioned the chain for low-cost stablecoin settlement between Bybit and DeFi. mETH Protocol routed roughly 20% of TVL to Aave following its Buffer Pool upgrade. Smaller money markets such as Init Capital and Lendle each maintained $10.1 million in TVL, the team boasted.
Surprisingly, the Mantle price has not mirrored that TVL expansion, as traders appear to be separating ecosystem growth from near-term token demand.
MNT Price Holds Support but Lacks a Catalyst
Mantle price is sitting near a weekly demand zone previously associated with a 400% advance, according to Crypto Coral. Price action has compressed back into that area after the recent slide, pointing to around $2.8, a 406.87% from the current level.
On the daily timeframe, TradingView’s indicator summary for MNTUSDT Spot shows a neutral reading across oscillators, moving averages, and overall summary. Currently, there are no active buy or sell signals in the snapshot, indicating that momentum is balanced rather than trending strongly in either direction.
The 24-hour chart shows a steep drop to around $0.58, then stabilizes in sideways movement as buyers prevent a continued fall below $0.5756. The immediate resistance level is still near the session high at $0.6059.
READ MORE: Dogecoin Price Near Major Support, Analysts Eye Reversal
