Focusing on its new initiatives, Mantle (MNT) has experienced a 14 percent increase in the last week.
Mantle, one of the popular layer-2 projects, has started to make a name for itself with its new initiatives. Mantle announced the second core product in its ecosystem called Mantle SLP. The product launched was introduced as a new liquid staking protocol.
Mantle has maintained price stability along with ecosystem improvements and increased network activity. The project, which is not yet listed on Binance but has trading opportunities on many exchanges, continued its growth. MNT increased by 14 percent in the last week in response to the project development.
Mantle (MNT) maintains its strong structure
Popular layer-2 project Mantle (MNT) has managed to build and maintain a strong structure. MNT price has increased by 50 percent since November 1. Additionally, MNT witnessed a 14 percent increase in the last week with the impact of ecosystem developments.
According to CoinMarketCap data, MNT’s market value increased by 3 percent in the last 24 hours, reaching $1.756 billion. MNT was ranked the 38th top cryptocurrency by market cap. Additionally, MNT’s transaction volume increased by 8 percent in the last 24 hours, reaching 111 million dollars. The popular cryptocurrency’s circulating supply accounts for 50 percent of its total supply.
On the other hand, MNT started to bring the staking protocol to the fore with the development of the ecosystem. MNT’s total locked asset value is around 103 million dollars.
Looking at the MNT chart, it can be seen that the price is approaching an important point. MMNT broke the $0.5361 resistance and started to attract the attention of the bulls. Maintaining permanence above $0.5361, MNT set its sights on the next resistance point at $0.5733. If this resistance point is broken, MNT price could soon test $0.5825. MNT, which forms a stable price chart, can maintain permanence above the $0.5825 resistance if it increases the total locked asset value. In this case, MNT may try to break the major resistance point at $0.60. This breakout would reveal a new all-time high price level for MNT.
On the other hand, if MNT declines, it may experience a sharp pullback to $0.5361. With this withdrawal, MNT will meet with buyers at $0.5361. However, if MNT loses the support zone, it may fall sharply to the $0.50 band. This region stands out as the point where buyers will put pressure to continue the trend. However, if the sellers dominate, MNT could fall to the next box, at $0.46.
