MANTRA [OM], a prominent real-world asset (RWA) tokenization platform, has made headlines with a groundbreaking partnership with Dubai’s leading real estate developer, DAMAC. This deal, reportedly worth at least $1 billion, was finalized in the first week of January 2025. Despite the excitement surrounding the announcement, the price of OM didn’t immediately spike, leaving investors eager for the next price action.
However, patience paid off, as OM hit a new all-time high (ATH) of $5.96 just three weeks later. Although the token experienced an 11% dip following the ATH, its performance remains robust. With a market capitalization of $5 billion, MANTRA is now considered a large-cap token, and its explosive growth is undeniable. Since March 2024, OM has skyrocketed by nearly 20x, significantly outperforming much of the broader market.
In recent weeks, OM’s price has followed a range between $3.5 and $4.33, before breaking out on January 26. This breakout was followed by a healthy retest and continued upward momentum. The Fibonacci extension levels suggest potential targets of $6.56 and $7.82, positioning OM for further gains.
Key indicators reinforce the positive outlook. The Accumulation/Distribution (A/D) indicator reveals increasing buying volume, while the MACD shows strong bullish momentum. Open Interest (OI) has also seen impressive growth, rising from $46 million in mid-November to $434 million by January 31. This surge in OI indicates growing speculative interest, further fueling optimism.
However, the OI pullback in recent weeks signals a need for OM to maintain its upward momentum. Should it fail to do so, speculative interest may wane. Observing the OI trends on lower timeframes could provide valuable insight into the market sentiment and future price action.
Also Read: MANTRA (OM) Price Surge: Could $12 Be in Reach Amid Tokenization Push?
As OM continues to cement its position in the RWA space, its partnership with DAMAC and its continued price performance make it a token to watch 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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