Mantle Active Wallets Surge 21x Boosting MNT Price 89 Percent

Mantle's user base has experienced explosive growth, with active wallets surging 21 times in a single month, rising from 7,600 to 159,100 [1]. This rapid adoption coincides with a nearly 90 percent increase in the price of MNT, the project’s native token, bringing it closer to its all-time high of $1.54 [1]. Analysts note that the sharp rise in active wallets reflects strong user confidence and growing engagement with Mantle’s ecosystem [1].

The surge in wallet activity is complemented by a significant increase in stablecoin usage on Mantle. The stablecoin market cap on the platform recently jumped 22.85 percent, reaching $650 million [1]. This development is seen as a positive indicator of a more liquid environment, which could further support decentralized finance (DeFi) activity and attract traders seeking stable assets [1].

Daily active addresses on Mantle have also soared by 1,600 percent over the last month, reinforcing the idea that the network is gaining consistent and meaningful usage [1]. This trend suggests a maturing ecosystem with increasing real-world applications and stronger user retention.

Strategic developments have further fueled interest in the project. Mantle recently announced that key advisors from Bybit, including the Co-CEO and Head of Spot Trading, have joined the team [1]. This move strengthens Mantle’s connections to one of the largest crypto exchanges globally, potentially enhancing liquidity and market visibility [1]. Community members and analysts, such as Sjuul from AltCryptoGems, have highlighted this as a game-changing development for Mantle’s market position [1].

The advisors' involvement is expected to facilitate new partnerships and integration opportunities in the competitive Layer 2 space. Their expertise and networks may help Mantle scale more effectively and stand out in a crowded market [1]. The addition of Bybit’s leadership is seen as a major boost for market confidence and could attract institutional attention to the project.

Meanwhile, the MNT price has shown strong momentum, with recent weekly gains of 58 percent and a month-on-month increase of over 55 percent [1]. While the token dipped slightly by 2.66 percent in the last 24 hours, the overall trend remains bullish. To reach its all-time high, MNT must rise more than 30 percent from its current price of $1.04 [1]. Market observers suggest that, given the current trajectory, this may be an achievable target, although trading volume and liquidity will remain key factors in the pace of price movement [1].

The combination of growing wallet activity, expanding stablecoin usage, and high-profile advisory additions has created a compelling narrative for Mantle’s future. As the project continues to attract attention and scale its operations, it remains to be seen whether this momentum can be sustained and whether MNT can break through its all-time high.

Source:

[1] Mantle Wallet Growth Explodes 21x as MNT Price Nears All-Time High (https://www.livebitcoinnews.com/mantle-wallet-growth-explodes-21x-as-mnt-price-nears-all-time-high/)