Mantle Network is a scalable solution that enhances Ethereum’s transaction speeds using an optimistic rollup approach. As an Ethereum scaling protocol, it stands out by bundling transactions off-chain while ensuring they are economically feasible and accessible. Its unique data availability technology separates it from other rollups, making it a noteworthy development in blockchain technology.
Modular Architecture and EVM Compatibility
Mantle Network’s design follows a modular approach, which differentiates execution, consensus, and data availability into distinct layers. This separation allows for greater flexibility and efficiency compared to traditional monolithic blockchain architectures.
At its core, the Mantle execution layer integrates seamlessly with Ethereum’s virtual machine, maintaining a smooth transition for developers and users from the primary Ethereum platform to the enhanced Layer 2 solution offered by Mantle.
The compatibility with Ethereum’s existing ecosystem is key, as it permits developers to use their current tools and knowledge without the need for significant adjustments. This integration is critical for fostering widespread adoption and utilization of the Mantle Network, as it minimizes the learning curve and simplifies the transition to a more scalable network.
Mantle (MNT) Token: Utility and Governance
At the heart of Mantle Network’s functionality is the Mantle (MNT) token, which serves multiple roles within this Layer 2 solution. The token is instrumental in covering transaction fees, contributing to the network’s security, and ensuring its decentralization. MNT holders also have governance rights, which allow them to influence the future direction of the network through decisions on protocol upgrades and fund allocations.
Staking MNT not only supports the security of the network but also rewards token holders, reinforcing the token’s utility and stakeholder involvement. By holding MNT, users gain a voice in the Mantle Ecosystem, democratizing the governance process and empowering the community to shape the network’s development.
MNT Technical Analysis
The Mantle (MNT) token has seen a lot of changes in its price over the last month. Initially, the token started the month at $1.046. Throughout the month, its price dropped to a low of $0.7819 but later surged to a high of $1.482 before stabilizing above $1.10 by the end of the month. This shows that despite some ups and downs, the Mantle token gained in value by about 8.89% over the month.
Interestingly, when compared to Bitcoin, another well-known cryptocurrency, Mantle performed even better, showing a 17.6% increase in its value relative to Bitcoin. This indicates that Mantle is becoming more valuable not just in dollar terms but also when compared to other cryptocurrencies like Bitcoin.
MNT/USD/BTC 1-Month Chart (Source: CoinStats)
However, looking at a shorter time frame like the past week, the story is a bit different. The price has fluctuated more dramatically, ranging from a high of $1.502 to a low of $1.108. This indicates that the price of the Mantle token is quite volatile, which means it can change rapidly and unpredictably.
In just the last 24 hours, the price of Mantle has decreased significantly by 11.27%, with its value at $1.145. This sudden drop also shows that it is losing value compared to Bitcoin by 6.81%. Additionally, the total value of all Mantle tokens in circulation, known as the market cap, has also decreased by 11.13% to $3.373 billion. Despite these decreases, trading of Mantle has actually gone up significantly, with a 99% increase in trading volume, reaching $106 million.
MNT Token’s Bullish Momentum and Price Targets
Looking at the 4-hour chart, the MNT token has been showing a strong upward trend since March 20th, with its price range increasing by an impressive 101.04%. This suggests that investors have been bullish on MNT over the past few weeks.
MNT/USD 4-Hour Chart (Source: TradingView)
As of press time, the token seems to be undergoing a price correction, dropping to a support level of $1.1682 before bouncing back. This could signal a temporary pause in its upward movement, potentially leading to a consolidation phase. However, if the support level remains intact, it might pave the way for another bullish run.
Consequently, analysts are optimistic about the token’s future prospects, especially if the current momentum holds. They foresee the price of MNT aiming for the $1.3042 resistance level and possibly even breaking through it in the coming days or weeks. However, if the bullish momentum weakens and the trend shifts, there could be further price declines for MNT, potentially dropping below the support level and targeting the March trendline.
MNT Technical Indicators
The MACD indicator, which measures the momentum of price changes, is showing a downward trend. It’s currently sitting at 0.0538 in the negative zone, signaling a bearish trend. This is reinforced by the MACD line being below the signal line, indicating further downward movement.
MNT/USD 4-Hour Chart (Source: TradingView)
The histogram bars, which represent the difference between the MACD line and the signal line, are also in the red zone below the zero line, confirming the negative sentiment surrounding the MNT token. Conversely, the RSI indicator, which measures the magnitude of recent price changes, shows that the MNT token is in the oversold region. At a value of 31.32, this suggests that the token may be due for a potential reversal or bounce back in the near future.
Mantle Price Prediction
| Price Prediction | Potential Low ($) | Average Price ($) | Potential High ($) |
| 2024 | 0.5634 | 2.3987 | 2.8369 |
| 2025 | 2.1689 | 2.7005 | 3.8491 |
| 2026 | 2.6112 | 3.5471 | 5.1408 |
| 2027 | 3.3017 | 4.9402 | 6.8920 |
| 2028 | 4.9720 | 6.5326 | 9.2467 |
| 2029 | 6.4951 | 8.9064 | 10.983 |
| 2030 | 8.7054 | 10.912 | 12.3815 |
Mantle Price Prediction 2024
Analyzing historical data for Mantle suggests that by the end of 2024, its price is expected to range from a minimum of around $0.5634 to a potential high of approximately $2.8369. On average, Mantle is forecasted to trade at approximately $2.3987 throughout 2024.
Mantle Price Prediction 2025
Predictions suggest that by the year 2025, the price of MNT might drop to as little as $2.1689. Additionally, our evaluation suggests the potential for MNT to reach a peak value of $3.8491. On average, it is expected that MNT will be traded at around $2.7005.
Mantle Price Prediction 2026
A thorough analysis of Mantle’s (MNT) historical price data indicates that by the year 2026, the projected price range for MNT is estimated to be between approximately $2.6112 at the lower end and up to $5.1408 at the upper end. The average anticipated trading price is expected to hover around $3.5471.
Mantle Price Prediction 2027
Looking forward to 2027, Mantle is anticipated to sustain its upward trajectory, with forecasts suggesting a minimum price of $3.3017. The token could potentially reach a maximum value of $6.8920, while the average price is expected to stabilize around $4.9402 over the course of the year.
Mantle Price Prediction 2028
Predictions suggest that Mantle might achieve a starting price of $4.9720 by 2028, with the potential to peak at $9.2467. The projected average trading price for the year is around $6.5326.
Mantle Price Prediction 2029
Additional examination forecasts that by 2029, the Mantle price may stabilize at a minimum of $6.4951. There is a possibility for the price to surge to a maximum of $10.983, with an expected average trading price of approximately $8.9064.
Mantle Price Prediction 2030
Looking ahead to 2030, the analysis indicates that Mantle could bottom out at $8.7054, while its potential peak could soar to $12.3815. The average trading price is expected to hover around $10.912 for the year.
FAQS
Examining past records of Mantle indicates that by the conclusion of 2024, its price is projected to fluctuate between roughly $0.5634 as the lowest point and a possible peak of about $2.8369. On average, it is anticipated that Mantle will have a trading value of approximately $2.3987 throughout the entirety of 2024.
Buy Mantle Network (MNT) with crypto on the KuCoin Spot Market. With support for 700+ digital assets, the KuCoin spot market is the most popular place to buy Mantle Network (MNT).
It has a circulating supply of 3,264,441,708 MNT coins and a max. supply of 6,219,316,795 MNT coins.
The live price of Mantle is $ 1.145 per (MNT / USD) with a current market cap of 3.373 billion USD. 24-hour trading volume is $106M.
Our most recent Mantle price forecast indicates that its value will increase by 14% and reach $1.499267 by April 18, 2024. Our technical indicators signal about the Neutral Bullish 71% market sentiment on Mantle, while the Fear & Greed Index is displaying a score of 78 (Extreme Greed).
Disclaimer: The views and opinions in this article belong to the writer alone and they do not necessarily reflect the position of CryptoNewsLand (CNL). No information in this article, whether expressed or implied, should be taken as financial advice. Remember that investing in cryptocurrency poses significant risks to your asset. Hence, CNL strongly recommends all readers perform their own in-depth research before investing in cryptocurrency.
Crypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.
