The Mantra Price has become permanent from 2024, which has become one of the best performing players in the Crypto industry.
Mantra (OM), which expects to become the largest crypto in the real world property or RWA industry, has increased from $ 0.0158 to $ 9.10 in January 2024. The boom has increased its market cap from $ 29 million to $ 8.45 billion in January 2024 today.
Mantra has jumped after launching Mantrachain in 2024. Mantrachain is expected to become the largest layer 1 network for the RWA industry. Last week, developers launched Rwaccelerator, which they expect to fund developers in the industry.
The mantra is also the owner of an entrance to the mantra area, the series, where the users complete the onchain mission and promote the prize allocation. These users receive regular aircrafts, which helps them increase their income, especially that the Om price is increasing.
The price of the mantra is also caused by its strong staking rewards, which are higher than other networks such as atherium (ath) and nearby protocols (near). Most OM verifications pay an average staking yield of 5.50%.
There are some reasons that the price of OM will be reverse soon. First, the mantra and the futures are the ongoing deviation between the open interest.
As shown below, Coinglass data shows that futures interest reached $ 640 million earlier this month, and fell to $ 404 million. This deviation is an indication that investors in the futures market are withdrawing their bets on the coin.
Mantra price technology points to a return
Second, the price of OM may retreat due to the concept of medium repatriation. This is a concept that suggests that a property will always return to its historical average which has now become very distracted by them.
For example, the 50-week moving average is at $ 2.65, while the 100-day average is $ 1.64. In this case, the average repatriation concept indicates that the price will return to these average over time.
Third, the price of the mantra is still in the markup phase of the Wyckoff method. The above chart suggests that it remained in a consolidation phase between 2020 and 2024. It was part of consolidation accumulation.
This then entered the markup phase in 2024, which is now going on. This phase usually occurs after delivery and then marcodown where an asset retreats.
Fourth, there are indications that the mantra token is overbott. The relative power index has gone to the extreme overbott point at 87, while the stochastic RSI is near the overbott level. These indications are that the speed may decrease.
Therefore, it is likely that the price of the mantra may fall, at least at the next major support level at $ 4.58, its highest swing on 9 December.
mantra: From Defee to Token Property
Launched in 2020 by John Patrick Mulin, Will Corkin, and Rodrigo Quan Miranda, the project initially received traction as Minister Dao, which stressed community-operated governance and cross-chain interoperability.
Originally built on the substrate framework of Polkadot, the mantra has expanded several blockchain networks, including the atherium and benns smart chains. This offers users opportunities to earn ohm tokens, yield, and participate in lending and lending markets.
Recently, Mantra has moved to regulated financial services by obtaining a virtual asset service provider (VASP) license in Abu Dhabi. This step ranks it as a leader in tokening real -world assets, reducing the difference between traditional finance (Tradfi) and the Defi.
By integrating RWA like real estate and financial devices, mantras, obedient and scalable are leading blockchain solutions.
