Lưu trữ cho từ khóa: Mantra DAO

Phân tích

Mantra (OM) price forecast: on the cusp of a bearish breakout

Để lại phản hồi

The price of Mantra (OM) has suffered a harsh reversal this week, joining other altcoins like Ethereum, Solana, and Cardano.

OM slumped to a low of .8160 on Friday, down by over 25% from its highest point this week.

Added to a new RWA fund

Mantra’s OM token plunged even after some good ecosystem news. In a statement, the developers said the token had just been added to Swissborg’s Real World Asset (RWA) thematic basket.

The basket includes other tokens in the RWA industry, such as Synthetix Network, VeChain, Chainlink, Maker, and Polymesh Network. 

This is notable because Swissborg is one of the biggest players in the crypto industry, with almost 800,000 users and over .26 billion in assets. Its token has a market cap of over 7 million in assets.

Meanwhile, Mantra’s assets have jumped sharply in the past few weeks. It now has over .3 million in assets, higher than the million it started the year at. It also recently expanded to the UAE.

Mantra TVL

With a market cap of over 0 million, Mantra is one of the biggest players in the tokenization industry. Its platform enables the seamless fractionalization and tokenization of real-world assets (RWA), an industry expected to grow to over trillion in the next few years.

Mantra price forecast

Mantra’s OM token peaked at .0960 earlier this month and has now crashed by over 25% as the altcoin sell-off intensified. It has dropped below the important support level at , its highest swing on June 5.

The token has also moved below the 50-day and 100-day moving averages, a sign that bears are taking control. It was trading at .8095 but has failed to move below that level since June 3. This level is also important because it was the highest swing in April and May.

Therefore, a drop below that level will point to more downside since it will signify that bears have prevailed. If this happens, it could drop to .7620.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News

DeFi

Mantra (OM) hits all-time high amid strategic expansion in UAE

Để lại phản hồi

OM, the native token of defi solutions platform Mantra, has risen as the top gainer among the leading 100 cryptocurrencies as it attained its all-time high of .0924.

At the time of writing, OM is still up 13% in the last 24 hours, exchanging hands at a price of .06. The token also experienced a 234% surge in its trading volume, bringing it to 8 million within the same timeframe.

OM 24-hour price chart | Source: CoinMarketCap

Moreover, the token’s market cap also surpassed 0 million, marking it as the 90th largest cryptocurrency at the time of reporting.

Mantra’s OM token serves two main purposes within the blockchain platform, which is focused on real-world assets:

OM holders can use their tokens to engage in various defi activities on the Mantra platform, including lending, borrowing, and earning rewards. Additionally, they have the right to vote on proposals that influence the platform’s future direction.

The latest OM surge comes after Mantra has signed a Memorandum of Understanding (MOU) with UAE-based bank Zand.

Under this agreement, both entities will work closely together to frame clear rules for RWA tokenization to ensure compliance with Dubai’s Virtual Asset Regulatory Authority (VARA).

The strategic initiative will promote the seamless tokenization of real-world assets in the UAE, hence improving the efficiency and transparency of asset management procedures.

Michael Chan, CEO of Zand, disclosed that the collaboration marks a crucial step in their journey to integrate blockchain technology with their robust financial offerings.

Through the integration, the bank aims to provide its clients with greater control over their investments, enhanced security, and clearer insights into the lifecycle of their transactions.

“We aim to simplify operations, reinforce trust and authenticity in the assets’ legality, and broaden access to the wider market,” added Chan.

Earlier in March, Mantra completed an m funding round led by Shorooq Partners. The round also saw participation from strategic investors such as Three Point Capital, Forte Securities, and Virtuzone.

The funds will be used to double down on Mantra’s efforts to promote large-scale RWA tokenization.

Tổng hợp và chỉnh sửa: ThS Phạm Mạnh Cường
Theo Crypto News