- MANTRA surges 38.64% as its institutional-grade blockchain gains traction, hitting $7.59 with a market cap of $7.38B.
- FTX Token jumps 11.93% to $2.30 despite bankruptcy concerns, signaling ongoing market interest amid high volatility.
- PancakeSwap strengthens its DeFi position with a deflationary model, burning over 102% of minted CAKE weekly to enhance scarcity.
MANTRA leads with a 38.64% surge, FTT sees renewed interest, and PancakeSwap strengthens its tokenomics
MANTRA(OM) Surges as Institutional-Grade Blockchain Gains Momentum
Source: Tradingview
MANTRA experienced a substantial price increase reaching $7.59 while the market showed a 38.64% growth in the past 24 hours. The market capitalization has surged to $7.38 billion due to a 626.30% spike in trading volume reaching $992.25 million. Designed for institutional and developer use, MANTRA provides a permissionless blockchain for permissioned applications while ensuring compliance with real-world regulatory requirements.
Built on the Cosmos SDK, MANTRA is Inter-Blockchain Communication (IBC) compatible and supports CosmWasm. The blockchain is secured by a sovereign Proof-of-Stake (PoS) validator set, allowing scalability of up to 10,000 transactions per second (TPS). It also offers built-in modules, SDKs, and APIs that facilitate the creation, trading, and management of regulatory-compliant RWAs.
FTX Token(FTT) Sees Gains Amid Market Uncertainty
Source: Tradingview
The FTX Token (FTT) price rose by 11.93% to $2.30, maintaining its market capitalization of $759.27 million. Trading activity during the last 24 hours showed a 177.34% surge to $55.79 million. FTX Token maintains market price volatility following its bankruptcy filing in November 2022.
FTT was originally designed to enhance trading efficiency on the FTX exchange by preventing clawbacks and offering a universal margin wallet. The token also supports leveraged positions through ERC-20 compatible leveraged tokens. While the ongoing bankruptcy proceedings add uncertainty, the increased trading activity indicates continued market interest in FTT.
PancakeSwap(CAKE) Expands Offerings and Adopts Deflationary Model
Source: Tradingview
The price of PancakeSwap reached $2.67 representing a 5.12% increase in its value. The market capitalization of the platform currently stands at 794.79 million while its daily trading volume reaches 312.97 million. The PancakeSwap platform allows users to conduct token swaps, yield farming, staking, and NFT trading and predicting market outcomes between different tokens.
PancakeSwap implemented a deflationary tokenomics model, “Ultrasound CAKE,” through the CAKE Tokenomics v2.5 proposal. This mechanism reduces token emissions while burning over 102% of minted CAKE weekly. The protocol generates an annualized revenue of $27 million, with 42% of CAKE tokens currently staked. Despite a bear market affecting its total value locked (TVL), PancakeSwap remains a key player in the decentralized finance (DeFi) ecosystem.
