MNT (Mantle) rose 15.87% in the last 24 hours.

Gate News Bot News, August 5th, according to CoinMarketCap data, as of the time of writing, MNT (Mantle) is currently priced at $0.82, with a pump of 15.87% in the last 24 hours, reaching a high of $0.88 and a low of $0.68. The current market capitalization is approximately $2.776 billion, an increase of $380 million compared to yesterday.

Mantle is a blockchain platform focused on banking and on-chain finance. Its vision is to create a financially free, efficient, and accessible world powered by tokenization technology and open to everyone. MNT, as the core of the Mantle ecosystem, is the cornerstone for governance, staking, and driving decentralized economic innovation. The Mantle Network is an Ethereum Layer 2 network, known for its modular design and as the first adopter of EigenLayer and EigenDA, providing a foundation for its diverse products and applications.

Important news about MNT recently:

1️⃣ Mantle Ethereum reserve scale hits a new high The Mantle network currently holds 101,867 ETH and mETH, with a total value of approximately $388 million. This amount makes Mantle the largest Web3 entity by holdings in the current ETH treasury, highlighting its significant position and strength in the decentralized finance sector.

2️⃣ On-chain financial infrastructure further improved The large-scale Ethereum reserves provide strong liquidity support for Mantle, helping to further promote the development of decentralized and on-chain financial currency layers. This initiative will enhance the stability and scalability of the Mantle ecosystem.

3️⃣ Investor confidence has significantly increased The public and transparent reserve data disclosure of Mantle not only showcases its financial strength but also enhances investors' confidence in the MNT token. This may be one of the important driving factors behind the recent rise in MNT prices.

From a technical perspective, the MNT price has broken through previous resistance levels, showing a strong pump momentum. On the fundamental side, Mantle's position in the Layer 2 ecosystem has been further solidified, and its substantial Ethereum reserves lay a solid foundation for future growth.

This message is not intended as investment advice; investors should be aware of market volatility risks.