Key Takeaways:
Mantra(OM) has surged over 40% over the past 24 hours and reached its all-time high of $2.71 on November 16. The technical indicators of the token indicate its potential for further gains in the short term. Mantra(OM) is a decentralized finance platform and layer 1 blockchain that prioritizes security and regulatory compliance.
The project is designed to facilitate the tokenization and trading of real-world assets that align with legal standards. The platform is suitable for institutional purposes as it offers a permission-less blockchain environment built for permissioned applications. The platform also provides prebuilt decentralized applications from well-known brands to enhance its utility and reach. The project aims to onboard non-native users and institutions into the web3 space by improving user experience.
Mantra(OM): Current Price Analysis
Mantra(OM) has upsurged over 10000% in the past year. This upsurge is an indication of establishing the coin as one of the top-performing alt-coins in the crypto market. This indicates that OM is a cryptocurrency focused on real-world assets that can achieve a return of 100X this year.
The current trading volume of Mantra is $961,895,407 for the past 24 hours. This indicates that the value of the token has surged by 43.50% compared to the previous day. The market capitalization of Mantra is $3,819,425,945. It has a fully diluted valuation of $7,569,746,820. The circulating supply of the token is 900,813,525 and the total supply is limited to 1,785,328,585.
Mantra: Historical Price Analysis
The all-time lowest recorder value of OM is $0.01726. This was recorded on October 12, 2023. Compared to the lowest price, the token has surged to 24,429.34%. The seven-day price range of OM is between $1.33 and $4.42. The 24-hour price ranges between $3.21 and $4.45.
Mantra tokens are available on centralized crypto exchanges. Binance is the most prominent option for trading Mantra. It has a trading volume of $290,449,277 for the past 24 hours. You can also explore options like XT.COM and Bitunix.
Mantra(OM): Catalysts of Uptend
The current price surge of the token is a result of the key milestones that have been achieved by the token within the real-world asset sector. The project launched its mainnet in October. Mainnet delivers low transaction costs, enhanced security, regulatory compliance, and multi-chain asset transfer capabilities through its integration with the Cosmos network.
Mantras’ partnership with Google Cloud in late October has been one of the major reasons for the upsurge in the token. The project onboarded Google Cloud to provide primary validation and infrastructure for its blockchain network to enhance the security and scalability of the platform. This boosted the confidence of investors in the platform. The bullish sentiment around the token is supported by the increased whale inflow on Nov 14. Whale activity has increased around OM following the recent price upsurge.
Mantra introduced their flagship product named “Vaults”. The Vaults allowed crypto investors to gain exposure to single or multiple cryptocurrencies and their staking rewards by just depositing stable coins like USDT. The vaults enable users to avoid tedious processes that are related to staking and investing in cross-chain assets.
Mantra (OM): Future Possibilities
The upcoming airdrop increased the growing excitement in the Mantra community. This caused an increase in the daily captivity of the coin by 573% in the last three days. This is an indication of heightened activity of OM that provides a positive signal for the traders.
Final Thoughts
Mantra(OM) is a token that focuses on creating a permissionless blockchain for permissioned applications. This is a sign of the innovative approach created in the crypto ecosystem. Mantra facilitates the creation trading and management of regulatory complaints and real-world assets.
The platforms appeal to institutions that like to leverage blockchain technology by avoiding the complexities of the regulatory environment. This enhanced user experience is another aspect of Mantra’s strategy. This strategy allows the project to broaden its user base and increase the adoption of decentralized technologies. This strategy plays a crucial role in bridging the gap between traditional and decentralized finance and provides a seamless transaction experience to users.
Crypto investments are subjected to market risks. Conduct your research before investing and investments should be done after considering your risk tolerance level.
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