- Manta Network’s token has surged to its highest point since Friday.
- The network’s DeFi assets have surged to over $443 million, helped by LayerBank.
- Manta’s token has a room to grow in the next few months.
Manta Network (MANTA) price has done well in the past few days as investors cheer its ecosystem growth. The token was trading at $2.68 on Monday morning, higher than last week’s low of $0.052, according to Binance. This means that it has surged by over 4,300% giving it a market cap of over $658 million.
Next Celestia’s TIA?
Celestia (TIA) has been one of the best-performing tokens since its launch in 2023. Since its launch, it has jumped by more than 700% giving it a market cap of over $2.7 billion. Celestia has done well because of its growing ecosystem as it partnered with key blockchains like Near Protocol and Arbitrum. It also partnered with Pyth Network, a leading Oracle network.
Now, analysts believe that Manta Network could become the next success story after Celestia. For starters, Manta is a network that runs Manta Pacific, the first EVM equivalent that is scalable and secure through Celestia DA and Polygon zkEVM. The resulting platform is known for speed and low costs.
There are several reasons why Manta Network could do well even after the DDoS attack that happened during its airdrop. First, Manta is part of Binance Launchpool, which has produced other success stories in the crypto industry like Celestia, Sei, and Sui. Each of these networks has gained market share recently.
Second, Manta Network is gaining traction among developers. Data shows that Manta has become the 9th-biggest player in the DeFi industry as its TVL has surged to over $443 million. This makes it bigger than other networks like Base, Cardano, Cronos, and even Sui.
Most of Manta’s assets are in LayerBank, an AAVE rival that offers lending and yield in its platform. It has over $291 million in assets and has more room to grow. The other big networks in Manta are Shoebill, QuickSwap, and ZeroLend.
Manta Network price forecast
It is too early to conduct a good Manta Network token technical analysis since the airdrop happened a few days ago. On the 30-minute chart, the token has already flipped the key resistance point at $2.50. It has also moved slightly above the key point at $2.56, its highest point on January 9th.
Therefore, I have a feeling that the Manta Network price will continue doing well in the coming days. If this happens, the initial price to watch will be $3 followed by the psychological point at $5. This is a similar trajectory that Celestia took a few months ago. Its token initially dropped and then went parabolic a few weeks later.
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