Mantra (OM), the blockchain network specializing in real-world asset tokenization, defied the broader crypto downturn by surging 10% on Monday. OM climbed to $5.30, marking a strong recovery from recent lows, despite Bitcoin (BTC) and most altcoins declining due to macroeconomic concerns.
Mantra’s Impressive Performance
Mantra’s rally comes as a standout in a market that witnessed an 8% drop in total cryptocurrency capitalization, which now stands at $3.23 trillion. The token has already surged over 3,300% in the past year, making it one of the best-performing digital assets of 2024. OM currently trades near its year-to-date high of $5.9232 and remains 40% higher than its January levels.
Key Catalysts Behind Mantra’s Surge
The primary catalyst for Mantra’s latest price spike appears to be the addition of Republic as a validator. Republic, a key player in the crypto ecosystem, is backed by industry giants like Coinbase, Avalanche, Polygon, and Binance. It also provides validation services for blockchain networks such as Sui, Near, and Mina Protocol. Other notable Mantra validators include Allnodes, Enigma, and QuantNode.
.@RepublicCrypto has been added to the MANTRA Chain active validator set.
— MANTRA | Mainnet Live (@MANTRA_Chain) February 3, 2025
Republic's experience in institutional grade staking infrastructure and fostering a vibrant investment community aligns perfectly with MANTRA's mission to democratize access to tokenized RWAs.
We will… pic.twitter.com/5lo70efVmL
Additionally, Mantra’s futures open interest reached $422 million, nearing its all-time high of $434 million. This increased market activity signals strong investor confidence in the project’s long-term potential.
Mantra’s Growing Influence in Asset Tokenization
Mantra has positioned itself as a leader in the rapidly growing real-world asset (RWA) tokenization sector. The network has already secured high-profile deals to tokenize real estate projects for Middle Eastern firms MAG and DAMAC.
Institutional adoption of tokenization continues to rise, with major Wall Street firms entering the space. BlackRock’s BUIDL fund now holds over $500 million in assets, while Franklin Templeton has launched a $400 million tokenized fund in partnership with Stellar. Apollo Global, a private equity giant, has also joined the sector, further validating the market potential of RWA tokenization.
Technically, OM has broken above the key resistance level of $4.611, confirming a bullish flag breakout. The token has also completed a retest of this resistance, forming a bullish hammer candlestick pattern—an indicator of potential upward continuation.
Also Read: MANTRA [OM] Secures $1 Billion Deal with DAMAC, Soars to New All-Time High
With these bullish technical signals, analysts predict that Mantra could soon challenge its all-time high of $5.90, with an extended target of $10 in the coming months.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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