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Mantle (MNT) is resisting the broader market decline, rising 4% daily and 31% weekly to trade near $2.44 after achieving a new historical high at $2.47 (Oct. 7).
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The catalyst array is evident: Mantle introduced a compliance-centric Real-World Assets (RWA) “Tokenization-as-a-Service” package at Token2049, positioning the L2 among the select ecosystems constructing institutional-grade RWA infrastructure.
The momentum gained strength as World Liberty Financial announced its USD1 stablecoin, currently the #6 stablecoin with a $2.6 billion market cap, set to launch on Mantle, enhancing the network’s DeFi and payment presence.
An in-depth “Mantle × Bybit Roadmap” contributes to distribution as Bybit processes over $30 billion in daily transactions, providing Mantle immediate visibility to a worldwide trading audience.
Despite Profit-Taking, Volumes, Futures, and Liquidity Indicate Genuine Demand
Recently, Spot trading has surged as daily volume increased from $125M in early September to over $612 million, while market capitalization nearly doubled to $7.3 billion, propelling Mantle into the top 35. Derivatives reflect conviction, open interest climbed 26% to $4.85 billion, and funding remained positive for almost two weeks.
On the chart, MNT negated a classic bearish rising-wedge pattern by breaking upwards, then arranged short-term moving averages above long-term ones, featuring a 50/200-day “golden cross” and a bullish MACD backdrop that aligns with the narrative.
One cautionary note, “smart money” holdings decreased by 49% over 30 days to 18.1 million MNT (Nansen), suggesting selective profit-taking during periods of strength. This doesn’t disrupt the uptrend, but emphasizes the need for disciplined risk management and focus on spot-led versus leverage-led movements.
Key Levels: Can Mantle (MNT) Surpass $2.60 and Create a Path to $3?
On a technical level, MNT’s structure remains favorable. Immediate support lies around $2.00–$2.10 (monitor the $2.09 gap); maintaining above this keeps the higher-low sequence intact.
Above, $2.60 marks the next turning point and a psychological barrier; a high-volume daily close above $2.60 would initiate a calculated move toward $2.85–$3.00.
MNT's price trends upward on the daily chart. Source: MNTUSD on Tradingview
Failure to reclaim $2.60 on increasing volume heightens the likelihood of a reset into the $2.20s, where bulls will attempt to uphold momentum against the backdrop of a weakening crypto market.
Why it matters: RWAs are shifting from narrative to actualization, and Mantle has established a foothold with compliance tools, stablecoin depth (USD1), and CEX–L2 integration.
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In a week where major assets faltered, MNT’s breakout highlights the direction of capital rotation: networks delivering product-market fit, liquidity on-ramps, and institutional-friendly primitives. If the RWA pipeline and USD1 liquidity arrive as planned, Mantle’s chance to maintain price discovery above ATHs remains viable.
Cover image from ChatGPT, MNTUSD chart from Tradingview
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