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Manta Network Price Prediction 2024: Can MANTA Build on Recent Run?

Last Updated January 22, 2024 10:53 AM
Giuseppe Ciccomascolo
Last Updated January 22, 2024 10:53 AM

Key Takeaways

  • Manta Network launched its MANTA token on January 18, 2024.
  • It surged soon but it’s now in a pullback phase.
  • One price prediction says MANTA can reach $6.28 next year.

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.

Manta Network Price Prediction

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.

2024 2025 2030
Prediction #1 $5.34 $6.28 $18.03
Prediction #2 $4.19 $6.25 $37.99
Prediction #3 $4.11 $5.85 $37.10

 

Manta Network Price Prediction for 2024

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.

Manta Network Price Prediction for 2025

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.

Manta Network Price Prediction for 2030

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 BardAI Price Prediction for Manta Network (as of January 22)

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.

Short Term (Next 3 months)

  • Price range: $2.12 to$2.40
  • Reasons:
    • The overall performance of the cryptocurrency market: If the cryptocurrency market continues to grow, Manta Network is likely to see some positive price action.
    • The release of new products or features by Manta Network: If Manta Network releases new products or features that are well-received by the community, the price of the token could increase.
    • The adoption of Manta Network by businesses and institutions: If Manta Network is adopted by more businesses and institutions, the demand for the token could increase, driving up the price.

Medium Term (Next 6 months)

  • Price range: $2.10 to $3.62
  • Reasons:
    • The overall performance of the cryptocurrency market: If the overall market is bullish, Manta Network is likely to follow suit.
    • The adoption of Manta Network by businesses and institutions: If more businesses and institutions start using Manta Network, the demand for the token will increase, and the price could rise.
    • The development of new features and partnerships: If Manta Network continues to develop new features and partnerships, it could attract more users and investors, which could drive up the price.

Long Term (Next 5 years)

  • Price range: $42.00 to $84.00
  • Reasons:
    • Increased adoption of Manta Network by businesses and users: If Manta Network becomes more widely adopted by businesses and users, the demand for the token will increase, which could drive up the price.
    • Development of new features and applications for Manta Network: If Manta Network develops new features and applications that are valuable to users, the demand for the token will increase, which could drive up the price.
    • Positive news coverage: If Manta Network receives positive news coverage, it could increase investor interest in the token, which could drive up the price.

MANTA Price History

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.

Manta Network in 2024

Manta Network price history
Manta Network’s price in 2024 | Credit:CoinMarketCap
As of January 22, 2024, there were 251.0 million MANTA in circulation out of 1.0 billion of the total supply. This gave Manta Network a market cap of about $607.1 million, making it the 97th-largest crypto by that metric.

Is Manta Network a Good Investment?

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.

Will Manta Network go up or down?

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.

Should I invest in Manta Network?

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.

From the Whitepaper

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.

“A multi-modular approach provides developers the flexibility on leveraging Manta’s private identity tools across chains and in web2 environments including mobile apps. Manta’s software decvelopment kits and proof keys offer developer-friendly solutions for integrating on-chain identity with just a few lines of code.”

Manta Network (MANTA) Explained

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.

How Manta Network Works

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.

Manta Network Attention Tracker

Manta's Google search volume
Manta’s Google search volume for the last 90 days. Credit | Google
Here is a chart for Manta Network MANTA’s Google search volume for the past 90 days. This represents how many times the term “Manta Network MANTA” has been Googled over the previous 90 days.

FAQs

How many Manta Network coins are there?

On January 22, 2024, there were 251.0 million MANTA in circulation out of 1.0 billion of the total supply.

Will Manta Network reach $10?

It might, but not soon. DigitalCoinPrice expects MANTA to reach that level in 2027.

What is Manta Network used for?

Manta offers two networks:

  • Manta Pacific, the unique L2 ecosystem on Ethereum for EVM-native ZK applications, provides a scalable and inexpensive gas-fee environment for ZK applications to deploy simply using Solidity.
  • Manta Atlantic, the fastest ZK L1 chain on Polkadot, brings programmable identities and credentials to web3 through zkSBTs.

Further reading

Bitcoin Price Prediction 2024: What is BTC?

Solana Price Prediction 2024: What is SOL?

Sui Price Prediction 2024: What is SUI?

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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