Mantle price (MNT) has surged nearly 30% in the last 24 hours to $2.18, with daily trading volume reaching $1.2 billion, up over 120%. It is the second biggest gainer on CoinMarketCap, following Synthetix (SNX).
This rally coincides with the broader crypto market recovering more than $170 billion, driven by easing macro concerns after former U.S. President Donald Trump downplayed trade tensions with China.
The Crypto Fear & Greed Index has moved from “Fear (31)” to “Neutral (40)”, signaling a shift in sentiment as traders grow more comfortable re-entering altcoins.
Bitcoin price regained the $115K mark on Monday morning, and capital rotated swiftly into high-beta altcoins, with Mantle (MNT) being one of the altcoins enjoying the overall spike.
Activity Behind the Mantle Price: Real Utility, Real Demand
According to Artemis and DeFiLlama, Mantle’s total value locked (TVL) rebounded 10% in a single day to $248 million. Also, daily transactions rose to 79,400, and weekly user growth on the network jumped 117%, the strongest increase among all major L2s.
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Furthermore, Mantle revenue nearly tripled from last week, reaching $2.8K in fees. This increase shows more people are using DeFi apps, DEXs, and perpetual markets on the network. DEX volumes hit $61.6 million in the past 24 hours, confirming the rise in active users.
Mantle’s traction is also being reinforced by Bybit’s integration and liquidity flows between CEXs and the Mantle ecosystem, creating a feedback loop between exchange activity and Layer-2 growth.
Momentum Still Intact but Caution Advised
Mantle price shows strong short-term momentum but may cool soon. The RSI (14) is at 65, indicating moderate strength near overbought levels.
The MACD is positive, suggesting bullish momentum, and moving averages favor buyers, with the 10-day EMA at $2.09 and the 200-day SMA at $0.96. Support is at $2.00, with resistance between $2.30 and $2.40, aligning with recent TradingView highs.
If buying pressure stays above $2.10, Mantle Coin could try to retest its all-time high of about $2.80 reached last week. However, a close below $2.00 could invalidate the immediate bullish setup and open the door to a correction toward $1.85.
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