Mantra, popular blockchain network for real -world asset tokens, increased by 10%, even most cryptocurrency crashed.
The mantra (OM) climbed at $ 5.30 on Monday, which was slightly below the year-by-year high $ 5.9232 and was 40% higher than where the year started. OM has increased by more than 3,300% in the last 12 months, making it one of the best performing cryptocurrency.
The mantra rally took place in one day when Bitcoin (BTC) and most Altcoin rejected after the news of Donald Trump’s proposed tariff. Cryptocurrency’s total market capitalization fell by 8% to $ 3.23 trillion.
Apart from the Republic, the most likely reason for the rally is, a prominent player in the Crypto industry, as a verification. Republic is supported by companies such as avalanche, polygon and benns. It also offers verification services for blockchain such as SUI, near and Meena protocols. Other top mantra verifications include Allanods, Aneigma and Quantonode.
The price of Om also increased as Futures Open interest reached $ 422 million, below all the time of $ 434 million.
The mantra has established himself as a prominent player in the Crypto industry by focusing on the real -world asset tonnization, expecting an area to increase significantly in the coming years. The network has already received major deals for two major Middle Eastern companies, MAG and DAMAC to tokens real estate projects.
Tokanization has also drawn interest from wall street firms. Blackrock has launched the Buidl Fund, which now exceeds $ 500 million in the property. The $ 1.5 trillion asset manager Franklin Templeton has also introduced a $ 400 million fund in partnership with Staller (XLM).
A major private equity and credit firm Apollo Global has also entered the token fund space. As a dedicated blockchain to the real -world asset tokens, the mantra is well deployed to benefit from these industries tailwind.
Mantra -value forecast
The daily chart suggests that OM has been in a strong rapid trend during 2024. It recently broke above the major resistance at the upper range of a rapid flag pattern at $ 4.611. The flag was formed with a long vertical rally, followed by a rectangular consolidation between November and January.
The mantra has now returned to the upper border of the flag and completed a break and retest pattern. A Retest is a commonly observed rapid continuity signal. Additionally, OM has formed a rapid hammer candlestick pattern.
Given these technical signs, the mantra is likely to grow, targeting its all -time high of $ 5.90 with bulls, followed by a psychological level of $ 10.
