{"id":35956,"date":"2024-02-09T13:52:35","date_gmt":"2024-02-09T17:52:35","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=35956"},"modified":"2024-02-09T13:52:35","modified_gmt":"2024-02-09T17:52:35","slug":"what-is-mantra-om-and-why-is-the-price-up-almost-100-in-one-day","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2024\/02\/09\/what-is-mantra-om-and-why-is-the-price-up-almost-100-in-one-day\/","title":{"rendered":"What Is Mantra (OM) And Why Is The Price Up Almost 100% In One Day?"},"content":{"rendered":"

One of the top gainers in the crypto market today<\/a> is the Mantra (OM) token. The altcoin, which is currently leading the charge on the Binance list of top gainers, is up almost 100% in a single day. However, not much is known about this cryptocurrency, which is reaching highs after highs in 2024.<\/p>\n

What Is OM Token Used For?<\/h2>\n

The OM token is the native token associated with the Mantra Chain, a Layer 1 blockchain that was launched in October 2020. The token would go on to reach a new all-time high back in 2021, but fell more than 90% in the bear market that followed.<\/p>\n

However, in the last few months, the token has regained its footing and has begun to rally once more. The blockchain, which is developed to aid in the tokenization of real-world assets, has moved to the forefront as the RWA narrative has taken flight.<\/p>\n

In the last four months, the token has risen by more than 1700% to reach above $0.3, bringing it just a 60% move shy from its 2021 all-time highs. There has also been a notable increase in its trading volume, which has risen more than 300% in the last 24 hours alone.<\/p>\n

Why Is The Mantra Token Soaring?<\/h2>\n

Like with any significant rally, there is a reason why the native token of the Mantra Chain has been soaring over the last few days, and it has to do with staking. Staking has become a prominent part of crypto<\/a> investing, helping investors maximize returns on their holdings instead of leaving them to sit and do nothing. In the case of Mantra, staking was not available to investors until recently.<\/p>\n

Mantra announced staking on its chain this month and has received a warm welcome from the community. So far, more than 17% of the total token supply has been staked, showing commitment from its community. Additionally, its total value locked (TVL)<\/a> has been on the rise in the last four months, surging more than 300% from $13 million in October 2023 to over $48 million in February 2024.<\/p>\n

OM\u2019s price movement in the last day has also been nothing short of impressive after rising from its daily lows of $0.23 to over $0.34 at its peak. This accounted for an over 80% growth in a single day, making it the top gainer on Binance.<\/p>\n

The price of the altcoin<\/a> has since slowed down and is now trading at $0.3 at the time of writing. However, its daily gains remain significant as it continues to lead the list of top gainers on Binance<\/a> with 68% gains.<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

One of the top gainers in the crypto market today<\/a> is the Mantra (OM) token. The altcoin, which is currently leading the charge on the Binance list of top gainers, is up almost 100% in a single day. However, not much is known about this cryptocurrency, which is reaching highs after highs in 2024.<\/p>\n

What Is OM Token Used For?<\/h2>\n

The OM token is the native token associated with the Mantra Chain, a Layer 1 blockchain that was launched in October 2020. The token would go on to reach a new all-time high back in 2021, but fell more than 90% in the bear market that followed.<\/p>\n

However, in the last few months, the token has regained its footing and has begun to rally once more. The blockchain, which is developed to aid in the tokenization of real-world assets, has moved to the forefront as the RWA narrative has taken flight.<\/p>\n

In the last four months, the token has risen by more than 1700% to reach above $0.3, bringing it just a 60% move shy from its 2021 all-time highs. There has also been a notable increase in its trading volume, which has risen more than 300% in the last 24 hours alone.<\/p>\n

Why Is The Mantra Token Soaring?<\/h2>\n

Like with any significant rally, there is a reason why the native token of the Mantra Chain has been soaring over the last few days, and it has to do with staking. Staking has become a prominent part of crypto<\/a> investing, helping investors maximize returns on their holdings instead of leaving them to sit and do nothing. In the case of Mantra, staking was not available to investors until recently.<\/p>\n

Mantra announced staking on its chain this month and has received a warm welcome from the community. So far, more than 17% of the total token supply has been staked, showing commitment from its community. Additionally, its total value locked (TVL)<\/a> has been on the rise in the last four months, surging more than 300% from $13 million in October 2023 to over $48 million in February 2024.<\/p>\n

OM\u2019s price movement in the last day has also been nothing short of impressive after rising from its daily lows of $0.23 to over $0.34 at its peak. This accounted for an over 80% growth in a single day, making it the top gainer on Binance.<\/p>\n

The price of the altcoin<\/a> has since slowed down and is now trading at $0.3 at the time of writing. However, its daily gains remain significant as it continues to lead the list of top gainers on Binance<\/a> with 68% gains.<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-35956","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/35956","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=35956"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/35956\/revisions"}],"predecessor-version":[{"id":35964,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/35956\/revisions\/35964"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=35956"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=35956"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=35956"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}