Investors Shift to Mantle as MNT Surges Past Top Tokens

Mantle, a Layer 2 scaling solution for Ethereum, has surged by 24% in the past week, with its native token MNT trading at $1.40 and facing a key resistance level. This rally has propelled Mantle’s market capitalization above that of prominent tokens such as Pepe (PEPE), Ethena (ENA), and Aave (AAVE), highlighting a shift in investor sentiment toward the Ethereum-based project [3]. The technical indicators suggest that the token remains in a bullish trajectory, with the Chaikin Money Flow (CMF) above the zero signal line, indicating strong capital inflows and continued buying pressure [3].

One of the key drivers behind Mantle’s recent performance is its integration with Bybit, a major exchange that has incorporated MNT into multiple facets of its ecosystem, including Spot, Derivatives, Earn, and OTC services. This move has increased the token’s utility, drawing attention from both retail and institutional investors. On-chain data reveals that large holders—wallets with 100,000 to 1 million MNT—have significantly increased their holdings in recent days, from 17.36 million to 20.68 million tokens. Such accumulation patterns suggest further price appreciation if the trend persists [3].

Mantle’s market cap currently stands at $4.1 billion, with a circulating supply of 3.4 billion MNT tokens [1]. In the past 30 days, the token has appreciated by 73%, with its price climbing from $0.57 to the current level of $1.40 [3]. The weekly price chart indicates a breakout above a falling trendline, accompanied by a rise in the Money Flow Index (MFI), which confirms growing buying momentum. The token’s all-time high of $1.51 appears within reach, especially given the increase in daily active addresses, which aligns with the price action and signals strong network activity [3].

Looking ahead, Mantle’s price has already triggered a number of analyst projections. Some forecasts suggest that the token could test the $2 level if it successfully breaks through the $1.43 resistance [3]. A continuation of the current bullish momentum could lead to a broader rally toward $2.91. However, the market remains dynamic, and increased selling pressure could push the CMF below zero, leading to a potential pullback to $1.08 [3].

Coinbase, another major exchange, is scheduled to list MNT on August 21, adding another catalyst for the token. Listings on high-profile platforms often attract new investor interest, which can generate additional liquidity and upward pressure on the price [3]. As Mantle continues to gain traction in the DeFi-CeFi bridging space, its ability to maintain a strong on-chain and technical setup will be crucial for sustaining its recent gains and potentially reaching new highs.

Source:

[1] Mantle Price, MANTLE Price, Live Charts, and Marketcap (https://www.coinbase.com/en-gb/price/mantle)

[2] Mantle (MNT) Price Prediction 2025 2026 2027 - 2030 (https://changelly.com/blog/mantle-mnt-price-prediction/)

[3] Mantle (MNT) Rockets 73% After Bybit Boost, Enters Top ... (https://www.ccn.com/analysis/crypto/mantle-token-mnt-price-rockets-bybit-boost/)