The Surge in Manta Network’s Native Token Price
The price of Manta Network’s native token has skyrocketed to a new all-time high, reaching nearly $3 in less than a week after an airdrop for early supporters. At present, the cryptocurrency is trading around the $2.89 price level and has seen double-digit gains. In just 24 hours, the token experienced a 30% increase in value, with its trading volume surpassing $500 million across various platforms like Binance.
Manta’s Market Capitalization and TVL Growth
Manta Network’s market capitalization has propelled the coin into the top 100 cryptocurrencies. Additionally, the protocol’s total value locked (TVL) has witnessed significant growth since its launch in January. According to DefiLlama, Manta currently holds over $430 million worth of TVL across different blockchains, positioning it as one of the top 10 decentralized protocols alongside Base, Avalanche L1, and Polygon.
Manta’s Successful Launch and Features
Manta achieved initial success after launching its token through the Binance Launchpad as the 44th cryptocurrency on the platform. Similar protocols like Xai also experienced upward price movements following their rollout. Manta stands out due to its utilization of Celestia’s modular data availability solution and Polygon’s developer stack. The network offers users a multi-modular blockchain that supports zero-knowledge (zk) technology and Ethereum Virtual Machine (EVM) compatibility.
The Airdrop and Cyber Siege Incident
Early testers and supporters of Manta Network were rewarded with an airdrop, receiving generous amounts of free MANTA tokens after participating in farming activities on the network. However, shortly after this event, the protocol faced a DDoS attack. Despite the cyber siege, Manta swiftly resolved the issue and restored normal operations.
Hot Take: Manta Network’s Impressive Growth and Future Potential
Manta Network has demonstrated remarkable growth in a short period, with its native token price surging to new heights. The protocol’s market capitalization and TVL growth reflect its increasing popularity among crypto enthusiasts. With its unique features, successful launch, and ability to overcome challenges like cyber attacks, Manta Network shows promise for continued success in the decentralized finance space.
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