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Mantle Price Prediction: MNT Reaches New All-time High

Last Updated April 3, 2024 9:18 AM
Peter Henn
Last Updated April 3, 2024 9:18 AM
By Peter Henn
Verified by Peter Henn

Key Takeaways

  • Mantle is a layer 2 scaling solution that was launched in July 2023.
  • Its MNT token is the successor to, or possibly the rebranding of, the BIT crypto.
  • One price prediction says it may reach $3.38 next year.

Mantle was one of the hottest topics in the world of crypto in July 2023, when it was launched. The layer 2 scaling solution launched its mainnet and its MNT token and soon saw success, shooting up the price charts.

Serving as, depending on how one viewed things, either the successor or rebranding of BitDAO’s BIT token, Mantle has a ready-made user base and will be hoping to build on that.

Mantle announced  that its native token, MNT, is available on South Korean exchange Bithum from February 13, 2024. Recently, the coin has reached its all-time high and traders wonder if it can continue to increase.

Mantle did not immediately respond to a request for comment

But what is Mantle (MNT)? How does Mantle work? Let’s see what we can find out, and also take a look at some of the Mantle Price Predictions that were being made as of April 3, 2024.

Mantle Price Prediction 

Let’s examine some of the Mantle price predictions being made on April 3, 2024. It is crucial to bear in mind that price forecasts, particularly for a potentially volatile asset like cryptocurrency, often turn out to be inaccurate. Additionally, please remember that many long-term crypto price predictions are generated using algorithms, which means they can change at any time.

2024 2025 2030
Prediction #1 $2.86 $3.38 $9.71
Prediction #2 $1.89 $2.89 $18.67
Prediction #3 $1.89 $2.89 $18.67

First, CoinCodex  had a short-term Mantle price prediction that said the token would go to $1.637075 by April 8 before recovering to $4.18 by May 2. The site’s technical analysis was highly bullish, with 17 indicators sending positive signals and four making bearish ones. 

Mantle Forecast for 2024

In terms of other sites Mantle price predictions for 2024, DigitalCoinPrice  said the token would get to $2.86 while PricePrediction.net  had it trade at $1.89 by the end of the year. Changelly  said it would reach $1.89. 

Mantle Forecast for 2025

When it came to making a Mantle price prediction for 2025, Changelly said it would go to $2.89, while DigitalCoinPrice had it worth $3.38 and PricePrediction thought it would stand at $2.89 by the end of the year. 

Mantle Forecast for 2030

Moving forward to a more long-term Mantle price prediction for 2030, PricePrediction was out in the lead, saying it would close the year at $18.67. DigitalCoinPrice said it would get to $18.67 while Changelly hedged its bets in its MNT price prediction, saying it would be worth $9.18 at the start of the next decade.

Google Gemini Price Prediction for Mantle (as of April 3)

Google’s Gemini platform gave the following price prediction for Mantle on April 3. Please remember that the exact price prediction of an asset or cryptocurrency in the future is nearly impossible to achieve.

Additionally, artificial intelligent price predictions are predicated on past performances and are in no way entirely accurate.

Short Term (Next 3 Months):

  • Expected price: $4.06
  • Reasons:
    • Overall cryptocurrency market sentiment: If the broader market experiences a bullish trend, Mantle could benefit. Conversely, a bearish trend could lead to price declines.
    • Mantle-specific developments: Any major news or updates regarding Mantle’s technology, partnerships, or adoption could impact its price.
    • Regulatory environment: Changes in regulations surrounding cryptocurrency could affect investor confidence and, consequently, the price.

Medium Term (Next 6 Months):

  • Expected price: $5.73
  • Reasons:
    • Overall cryptocurrency market sentiment: If the broader cryptocurrency market experiences a bull run, Mantle might see positive price movement. Conversely, a bear market could negatively impact its price.
    • Mantle-specific developments: Any significant news or updates about Mantle’s technology, partnerships, or adoption could influence its price.
    • Regulatory environment: Changes in regulations surrounding cryptocurrencies could affect investor sentiment and demand.

Long Term (Next 5 Years):

  • Expected price: $8.13
  • Reasons:
    • Overall Crypto Market Performance: The success of Mantle will likely be influenced by the general performance of the cryptocurrency market.
    • Adoption and Development: Increased adoption of Mantle within its target audience and continued development of the platform will positively impact its price.
    • Regulatory Landscape: Any changes in regulations regarding cryptocurrencies could affect the price of Mantle.
    • Unexpected Events: Unforeseen events, such as hacks or major economic shifts, can significantly impact the price of any cryptocurrency.

Recent Updates from Mantle

Mantle announced  that its native token, MNT, is available on South Korean exchange Bithum from February 13, 2024.

MNT Price History

Let’s now take a look at the Mantle price history . While past performance should never be taken as an indicator of future results, knowing what the coin has done can help give us some very useful context when it comes to either making or interpreting a Mantle price prediction. 

When MNT first came onto the open market on 17 July 2023, it was worth $0.4812. It dropped to an all-time low of $0.4675 that day but recovered to close the day at $0.5095. 

Just two days later, it reached an all-time high of $0.5899. Since then, it has dropped down and, on 25 July 2023, it was worth about $0.5465.

Mantle price history
Mantle price in 2023 and 2024 | Credit: CoinMarketCap

The coin then ended the year at $0.6424. Although it climbed to an all-time high of $0.8488 on January 11, it fell down, reaching a value of $0.5852 at the end of that month. February saw something of a recovery, as it reached $0.6981 on February 14, 2024. It reached a new all-time high on March 27, 2024, at $1.3363, before retracing a bit to $1.28 on April 3, 2024.

At that time, there were 3.23 billion MNT in circulation, out of a total supply of just over 6.22 billion. This gave the token a market cap of $4.15 billion, making it the 29th largest crypto by that metric. 

Mantle Price Analysis

Mantle Price Analysis
Mantle could hit another all-time high in the near future.

 

MNT has been rising since the start of February, reaching an all-time high.  Nevertheless, there is a strong likelihood that it could drop again before climbing back up. It is possible that it could break its record price, but not by much. What is more likely is that its price will fluctuate in the short-term.

Is Mantle a Good Investment?

It is hard to say. A lot will depend on how the market as a whole is able to perform in the coming weeks. Keep in mind that MNT will need to attract people who would not have bothered with BIT while keeping BitDAO investors on board.

As a layer 2 scaling solution, it is also dependent on Ethereum being slow. If Ethereum’s Proof-of-Stake consensus mechanism helps it speed up, then Mantle and its ilk will become effectively redundant. 

As ever with crypto, you will need to make sure you do your own research before deciding whether or not to invest in MNT.

Will Mantle go up or down?

No one can really tell right now. While the Mantle crypto price predictions are largely positive, price predictions have a well-earned reputation for being wrong. Keep in mind, too, that prices can, and do, go down as well as up. 

Should I invest in Mantle?

Before you decide whether or not to invest in Mantle, you will have to do your own research, not only on MNT, but on other, related, coins and tokens such as Arbitrum (ARB). Either way, you will also need to make sure that you never invest more money than you can afford to lose.

Who is the Founder of Mantle?

Pascal Leblanc is the current CEO, CTO, and Founder of Mantle, and Co-Founder of Ambo Technology. He previously worked at EY as a Blockchain Strategist. Pascal Leblanc attended the University of Quebec at Trois-Rivières.

Who Owns the Most Mantle (MNT) Tokens?

On April 3, 2024, one wallet held 46.09% of MNT’ supply.

Richest MNT Wallet Addresses

As of April 3, 2024, the five wallets with the most Mantle tokens were

  • 0x78605df79524164911c144801f41e9811b7db73d. This wallet held 2,866,781,566 MNT, or 46.09% of the supply.
  • 0x2ebf891f4718eb8367013d8d975a1e5afcae277f. This wallet held 706,717,699 MNT, or 11.36% of the supply.
  • 0xec949f12a3acab835f3eed8b54b7361a8fbb3ee0. This wallet held 550,000,000 MNT, or 8.84% of the supply.
  • 0x5a076b2d0941f2bc9b49d05d3a1ff9c7acdc5e78. This wallet held 408,932,756 MNT, or 6.58% of the supply.
  • 0xe1ab8c08294f8ee707d4efa458eab8bbeeb09215. This wallet held 335,994,166 MNT, or 5.40% of the supply.

Fact Box

Supply and distribution Figures
Maximum supply 6,219,316,795
Circulating supply (as of February 1, 2024) 3,233,737,802 (52.00% of maximum supply)
Holder distribution Top 10 holders owned 89% of supply, as of February 14, 2024

From the Whitepaper

In its technical documentation, or whitepaper , Mantle says that it is a technology stack for scaling Ethereum, and we strive to be EVM-compatible while doing so. Being EVM-compatible means all the contracts and tools that work on Ethereum also work on Mantle Network with minimal modifications. Users can experiment with exciting web3 apps, and developers can deploy smart contracts in an efficient, low-fee environment.

At its core, Mantle Network has been built with a modular architecture that combines an optimistic rollup protocol with an innovative data availability solution. This allows Mantle Network to inherit security from Ethereum AND offer cheaper and more accessible data availability.

Mantle (MNT) Explained

Although Ethereum (ETH) is the largest blockchain when it comes to giving people somewhere to develop their decentralized applications (dApps), it is not without its problems. Historically speaking, Ethereum was a very slow system, which meant that transactions took longer to process and cost people more money. 

Although Ethereum’s switch from a Proof-of-Work consensus mechanism to a proof-of-stake one helped the system somewhat, there was already a market for protocols that made the blockchain work quicker.

Layer 2 scaling solutions take transactions off blockchains, carry them out elsewhere, and put them back on the blockchain. Mantle , which was launched in 2023 by the BitDAO organisation, is a layer 2 scaling solution, based on Ethereum, and it is supported by the MNT token.

BitDAO’s previous crypto, BIT, was swapped  for MNT on a 1:1 basis. This meant that BIT holders got the same amount of MNT in return for their old tokens.

How Mantle Works

Mantle uses optimistic roll-ups to process transactions. This means that the transactions are carried out away from the system and are assumed to be valid. However, people can still flag up what they consider to be fraudulent transactions. 

This system, at least in theory, helps reduce slowness on the platform. 

Mantle’s MNT cryptocurrency is used to pay for fees on the network. People can also stake it, or set it aside, if they want to operate one of the computers, or nodes, which help the system run. Holders can vote on changes to the platform, and it can also be bought, sold, and traded on exchanges. 

Because Mantle is based on Ethereum, it is a token, not a coin. You might see references to such things as a Mantle coin price prediction, but these are wrong.

Mantle Attention Tracker

Mantle Google search volume
Mantle Google search volume. | Credit: Google

Here is a chart for Mantle Google search volume for the past 90 days. This represents how many times the term “Mantle MNT” has been Googled over the previous 90 days.

FAQs 

How many Mantle are there?

As of April 3, 2024, there were 3.23 billion MNT in circulation, out of a total supply of just over 6.22 billion.

Will Mantle reach $10?

It might do, but not for a long time. PricePrediction.net thinks it can break $10 in 2031, while DigitalCoinPrice says it can get there in 2032. 

Keep in mind that, in the week or so that MNT has been trading openly, the highest it has reached has been $1.3363, and the highest its predecessor, BIT, traded at was $3.64, which it hit in November 2021.

What is Mantle used for?

The MNT token is used to pay for transactions on the Mantle layer 2 scaling solution platform. It also gives holders the right to vote on changes to the network, and it can be bought, sold, and traded on exchanges.

Disclaimer 

Please note that the contents of this article are not financial or investing advice. The information provided in this article is the author’s opinion only and should not be considered as offering trading or investing recommendations. We do not make any warranties about the completeness, reliability and accuracy of this information. The cryptocurrency market suffers from high volatility and occasional arbitrary movements. Any investor, trader, or regular crypto users should research multiple viewpoints and be familiar with all local regulations before committing to an investment.

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