Mantle Network (MNT) is a layer-2 scaling solution on Ethereum that aims to make the leading smart contract-enabled blockchain highly scalable and more efficient. It uses optimistic rollups to enable cheap and fast transactions on Ethereum.
This article is a comprehensive guide to the Mantle Network (MNT), where we will learn more about the project’s underworkings. We shall also take a look at its native MNT token to understand what purpose it serves, make future price predictions until 2030, and list exchanges where to buy the tokens from, before determining whether it is a credible cryptocurrency project.
So without further ado, let us get started.
What is the Mantle Network (MNT)?
Mantle is an Ethereum Virtual Machine (EVM) compatible L2 scaling solution that uses Optimistic rollups to facilitate cheap and fast transactions on the Ethereum blockchain. It is said to be the first modular L2 on Ethereum that achieves scalability by bundling and executing transactions off-chain, but ultimately settling it on-chain.
The project merged with BitDAO in 2023 to create a unified ecosystem. BitDAO is a decentralized autonomous organization established by the founders of the ByBit cryptocurrency exchange.
Fun fact: Mantle Network has the largest treasury in the crypto world, worth more than $3 billion at the time of writing.
How Does the Mantle Network Function?
To understand how Mantle Network works, you need to understand the three components at the heart of the project that are crucial in orchestrating a highly efficient and secure blockchain ecosystem. They are:
- Optimistic Rollup and MPC Nodes
Optimistic roll-up technology organizes transactions into smaller batches ready for approval and incorporation into the main network’s data. By bundling thousands of transactions, these roll-ups streamline the validation process.
The Multi-Party Computation (MPC) nodes independently compute state roots from the transaction data and provide signatures for valid state transactions. As more nodes validate a block, the more confidence there is in the validation process. By bridging smart contracts, optimistic roll-ups connect with Ethereum and secure asset transfer without any third-party intermediary.
- Modular Network Architecture
The Mantle Network is a modular blockchain where nodes manage all tasks concurrently. Under this architecture, transaction execution occurs on Mantle, while consensus and settlement processes happen on Ethereum.
- Data Availability Nodes (DA)
Mantle’s Data Availability (DA) nodes store records of all roll-up transactions, making them accessible to verifiers on both Mantle and Ethereum. Verifiers can retrieve data or transactions from the DA nodes during fraud-proof challenges. The DA also publishes proofs of data validity to Ethereum.
What is the Mantle (MNT) Token?
MNT is the native utility and governance cryptocurrency of the Mantle Network. The digital asset facilitates transactions on the network by covering gas fees and also serves as collateral for Mantle Network nodes.
By using MNT, users can enjoy up to 80% reduction on Ethereum transactions. Its use of Data Availability (DA) nodes makes it highly cost-efficient compared to other Layer-2 solutions like Optimism.
Mantle has a total supply of 6.219 billion tokens, out of which, 3.26 billion MNT are currently in circulation. With a market capitalization of $3.74 billion, the ecosystem achieved a 24-hour trading volume of $93.6 million at the time of writing.
As of writing, MNT is trading at $1.15 – down 0.1% in the last 24 hours.
Mantle Network (MNT) Price Prediction: 2024, 2025, 2026, 2027, 2028, 2029, 2030
According to technical analysis, the price of MNT is expected to trade within a minimum cost of $0.0522 and a maximum value of $4 in 2024. The average trading price for the token this year is estimated to be around $2.03.
It is assumed that in 2025, the minimum price of MNT will be around $2.19, while the maximum expected price for the token may be around $2.61. Next year, Mantle could be trading at an average cost of $2.25.
In 2026, MNT is forecasted to trade within a minimum and maximum price range of about $3.25 and $3.77, respectively. The average price at which the token could be traded during that year is estimated to be $3.37.
It is assumed that in 2027, the price of MNT could drop to $4.77, while the highest value it could reach is expected around $5.77. The average trading price for the token during that year is estimated to be $4.94.
By 2028, the maximum and minimum expected prices for Mantle are $8.33 and $6.84. On average, the MNT could trade at $7.04 during that year.
Based on expert predictions, the average estimated trading price for MNT in 2029 will be around $10.94. Its value might drop to $10.59 but still reach a high of $12.04 during that year.
In 2030, it is forecasted that Mantle could be trading between $15.35 at its lowest and $17.95 at its highest. The average cost of MNT during that year is expected at around $15.90.
Where To Buy Mantle Network (MNT) Tokens From?
Here is the list of exchanges on which you can buy and trade MNT tokens:
Is Mantle Network a Credible Cryptocurrency Investment?
Mantle Network is a revolutionary new Layer-2 scaling solution that facilitates faster, cheaper, and more efficient transactions on the Ethereum blockchain. Its implementation of Optimistic roll-ups, modular architecture, and DA nodes make it a far more exciting and efficient alternative to other popular Ethereum scaling networks.
Furthermore, the backing Mantle receives from BitDAO, makes it far more credible as it has the treasury to offer developers and users an agile and secure ecosystem for building and deploying EVM-compatible decentralized applications (DApps).
All things considered, I would say Mantle Network (MNT) is an exciting investment option in the crypto sphere. However, how it can compete with other Layer-2 blockchains while managing to gain widespread adoption needs to be seen.
Cryptocurrencies are highly speculative and volatile assets. Therefore, you need to do thorough research before making any investment decision.
