Mantle price action is finally showing some response to the network’s growing numbers. A new real-time data dashboard on Blockworks now tracks Mantle’s financials, tokenized assets and DeFi activity, while the network’s total value secured has climbed to $1.42 billion from $330 million in 2023.
Mantle Price Reacts as Network Metrics Expand
The dashboard puts some fairly substantial figures in one place. Mantle has surpassed 256 million cumulative transactions, while tokenized assets have crossed 840 and their value has reached $290 million.
Stablecoin circulating supply has also climbed beyond $543 million. Those figures don’t automatically make the token bullish, but they do show that the network has considerably more activity than its $330 million total value secured level in 2023 suggested. And this time, the market actually noticed.
Mantle Price Flips Key EMA During Rally
Mantle price has reacted positively following the dashboard information going live, extending the rally that began in early August. The token is trading around $0.4522 after flipping its 50-day EMA band.
That’s an encouraging technical change, although the next test is considerably tougher. The 200-day EMA sits around $0.60 and represents the first major resistance identified in the current setup.
If buyers manage to clear that level, $0.84 becomes the next resistance area. Suddenly, the chart starts looking considerably more interesting.
Losing Momentum Could Send Mantle Lower
Still, crypto markets have a habit of ignoring fundamentals until they don’t. If the current recovery loses momentum and Mantle price falls back below the recent structure, $0.38 becomes the key downside area, with an even deeper decline possible if that level fails.
For now, the combination of expanding network metrics and improving Mantle price action gives bulls something tangible to work with. The $0.60 test, however, will reveal whether this is a genuine recovery or just another short-lived bounce.
Was this writing helpful?
Story Ends Here
Read the Next News