A Little-Known Altcoin Surges Over 45% in 24 Hours After Community Proposal
An altcoin that has been flying under the radar recently experienced a surge of over 45% in just one day. This surge came after the community voted on a proposal to upgrade the protocol’s token, making it the project’s sole token. The altcoin in question is Mantra Chain (OM), a decentralized finance (DeFi) protocol based on Cosmos (ATOM).
In a video update, John Patrick Mullin, the CEO of Mantra Chain, explained that the community member known as The King submitted the proposal on the Mantra DAO, suggesting that OM become the main L1 token for the ecosystem. Despite initial plans to have two tokens, the community unanimously decided to use OM as the only token.
Following this decision, OM experienced a significant price increase, going from $0.15 to a peak of $0.338 within two days, marking a gain of 123%. Although the asset has retraced slightly and is currently trading at around $0.315, it still represents a gain of over 40% in the last 24 hours.
Overall, this unexpected surge showcases the power of community decisions and their impact on altcoin prices.
By
By
By
By
By
By