Mantle’s rally accelerates with bullish sentiment and record network activity | Credit: Hameem Sarwar
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Key Takeaways
Mantle’s token has surged 73% in 30 days, pushing its market cap above Pepe, Ethena, and Aave.
Catalysts include a break above resistance, Bybit integration, and an upcoming Coinbase listing.
The technical setup remains bullish, with CMF above zero, and the charts suggest an upside of $2.
Mantle’s native token, MNT, has exploded 73% over the past 30 days. The surge pushed MNT’s market cap beyond that of Pepe (PEPE), Ethena (ENA), and Aave (AAVE), marking a significant milestone for the Ethereum layer-2 network.
MNT trades at $1.40 at press time, and technical indicators suggest the rally may have more room to run.
In this analysis, CCN breaks down what fueled the spike — and what could come next for the Mantle token.
Mantle Reaches Yearly High
On the weekly chart, Mantle’s price has broken out above a falling trendline, signaling an apparent change in market structure. In doing so, MNT has posted higher highs and trades at its highest level of the year.
Amid this surge, the Money Flow Index (MFI) confirms the momentum, showing a notable increase in buying pressure.
This uptick highlights growing demand for MNT and suggests market participants are actively accumulating rather than taking profits, reinforcing the token’s bullish outlook.
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A closer look at the chart shows that the Mantle has established strong support around $0.57. More importantly, the token has broken through resistance at $0.83, boosting the odds of MNT extending its rally soon.
According to CCN’s findings, multiple catalysts have fueled this surge. However, one thing stands out: Mantle’s integration with the Bybit exchange.
The project notes that MNT is evolving beyond just a native token. Instead, it has become a core asset within Bybit’s ecosystem as it gains real utility across the platform.
“MNT is no longer just a token — it’s gaining utility across Bybit’s ecosystem with Spot, Derivatives, Earn, OTC, and exclusive campaigns. All powered by Mantle Network, the infra layer bridging liquidity between DeFi and CeFi.” It disclosed on X.
Furthermore, the Bybit integration has triggered a rise in demand for MNT. On-chain data from Santiment shows that large holders — wallets owning between 100,000 and 1 million MNT — have significantly increased their positions.
Their collective holdings climbed from 17.36 million to 20.68 million tokens in just the past few days. If this accumulation continues, the Mantle token price might break $2.
In the meantime, Mantle’s price-Daily Active Addresses (DAA) divergence has continued to climb. This rise indicates that network activity is keeping pace with price growth, a bullish signal supporting an uptrend’s sustainability.
If this trend holds, MNT’s price could edge closer to its all-time high of $1.51.
Outside of on-chain analysis, Coinbase has announced that it will list MNT for trading on Aug. 21.
Exchange listings on major platforms mostly attract new retail and institutional interest.
This could create additional buy-side pressure that could help propel the Mantle token higher.
MNT Price Analysis: Higher Highs
The daily MNT/USD chart shows that Mantle has broken above its resistance line, clearing a key hurdle while posting a series of higher highs.
This breakout confirms strong bullish momentum and strengthens the case for further upside.
Adding to the bullish picture, the Chaikin Money Flow (CMF) has climbed above the zero signal line. This indicates that capital inflows are outpacing outflows, showing that buying pressure is in control.
Should this trend remain the same, the Mantle cryptocurrency could break the resistance at $1.43 and rise to $2, becoming the stepping stone to $2.91.
Disclaimer:
The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.
Victor Olanrewaju is a crypto analyst and reporter at CCN with deep roots in on-chain research and technical analysis. His crypto journey began in 2017, but it was the 2020 Uniswap airdrop that sparked a full-time pivot into the space.
With a foundation in copywriting, Victor honed his craft creating high-converting content for leading crypto brokers — most notably an XRP price prediction that ranked #1 on Google during the 2021 bull run.
He later joined AMBCrypto in 2022, where he combined storytelling with technical and on-chain analysis to cover key market narratives.
In 2024, he expanded his expertise at BeInCrypto, collaborating with analysts and using tools like Glassnode, Santiment, and IntoTheBlock to break down Bitcoin and altcoin trends.
At CCN, Victor covers the top cryptocurrencies, memecoins, macro shifts, blending real-time insights with deep-dive metrics.
He holds a Bachelor’s degree in Physics from the University of Ibadan, equipping him to simplify complex data for a wide audience. Follow his work or connect on LinkedIn or X.
