Manta Network faced a distributed denial-of-service (DDoS) attack on January 19, 2022, one day after the listing of its MANTA token on major cryptocurrency exchanges. Despite the cyber attack, the network successfully maintained its operational integrity and safeguarded user assets.
The introduction of the MANTA token to exchanges initially caused a surge in prices. However, the token’s value took a dip, following a controversial move by the project’s Korean business development representative. The representative sold two million MANTA coins, converting them into a significant amount of Ethereum (ETH).
Despite the price volatility and the attack, Manta Network boasts a market capitalization exceeding $533.99 million following the incident. The network is recognized for its high total value locked (TVL), underscoring its status as a key player in the blockchain scalability arena.
Manta Network did not immediately respond to a request for comment
But what is Manta Network (MANTA)? How does Manta Network work? Let’s see what we can find out, and also take a look at some of the Manta Network Price Predictions that were being made as of January 22, 2024.
Let’s examine some of the Manta Network price predictions being made on January 22, 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.
DigitalCoinPrice said that MANTA would reach $5.34 this year. PricePrediction.net thought the coin would trade at $4.19. Changelly argued Manta Network would be valued at $4.11 by the end of the year.
Moving on, Changelly thought Manta Network would trade at $5.85 in 2025. DigitalCoinPrice had the coin coming in at $6.28 that year. PricePrediction.net said MANTA would be worth $6.25 next year.
Looking at a more long-term Manta Network price prediction, PricePrediction.net said the coin would hit $37.99 in 2030. Changelly suggested it would reach $37.10 that year. DigitalCoinPrice made a MANTA price prediction that had it trade at $18.03 at the start of the next decade.
Google’s BardAI platform gave the following price prediction for Manta Network on January 22. Please remember that price predictions are very often wrong and that artificial intelligence should not be trusted.
Now, let’s examine some of the highlights and lowlights of the Manta Network price history . While we should never take past performance as an indicator of future results, knowing what the coin has achieved can provide us with some very useful context if we want to make or interpret an Manta Network price prediction.
MANTA first came onto the open market on January 18, 2024, when it was worth about $2.24. It went up slowly but steadily, breaking past $2.70 on January 22. 2’24. The coin then pulled back a bit, being worth now $2.40.
It is hard to say. The coin’s price has shot up after its launch, but there may already be signs of a downturn.
On the other hand, there are good reasons for MANTA’s recent price surge, with new developments getting investors attention.
As always with crypto, you will need to make sure you do your own research before deciding whether or not to invest in MANTA.
No one can really tell right now. While the Manta Network 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.
Before you decide whether or not to invest in Manta Network, you will have to do your own research, not only on MANTA, but on other, similar, coins and tokens such as Filecoin (FIL). Either way, you will also need to make sure that you never invest more money than you can afford to lose.
In its technical documentation, or whitepaper , the Manta Network says: “Manta Pacific leverages Celestia (TIA) and a modified Optimism (OP) Stack to deliver a cutting-edge technical infrastructure offering extraordinary scalability paired with low gas fees. Combined with Manta Pacific’s Universal Circuits, Manta Pacific delivers an unrivaled environment for building and deploying ZK applications and dapps.
Manta Network was launched on November 12, 2023. It is a privacy-focused layer-2 scaling solution for the Polkadot ecosystem. The Manta Network token, MANTA, is used to pay for transaction fees and to secure the network.
Manta Network uses zero-knowledge proofs (ZKPs) to provide privacy for transactions. ZKPs are a cryptographic technique that allows users to prove that they know something without revealing what that thing is. This makes it possible for users to transact on the Manta Network without revealing their identities or the details of their transactions to anyone else.
Victor Ji is the Co-Founder of Manta Network. He was a Research Assistant at Harvard’s Belfer Center before that.
Manta Network is a privacy-focused layer-2 scaling solution for the Polkadot ecosystem. It uses a two-pronged approach to provide privacy and scalability for blockchain applications:
Manta Pacific: This is a layer-2 scaling solution that runs on top of the Ethereum Virtual Machine (EVM). It uses zero-knowledge proofs (ZKPs) to enable private transactions on the Ethereum blockchain. ZKPs are a cryptographic technique that allows users to prove that they know something without revealing what that thing is. This means that users can transact on Manta Pacific without revealing their identities or the details of their transactions to anyone else.
Manta Atlantic: This is a layer-1 blockchain that uses its own consensus mechanism and native token, $MANTA. Manta Atlantic is designed to be more scalable and performant than Ethereum, and it also supports ZKPs. This means that users can deploy private applications on Manta Atlantic that are faster and cheaper than on Ethereum.
On January 22, 2024, there were 251.0 million MANTA in circulation out of 1.0 billion of the total supply.
It might, but not soon. DigitalCoinPrice expects MANTA to reach that level in 2027.
Manta offers two networks:
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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.