Mantle Becomes Top Gainer as Bybit Deal Pushes MNT | Crypto News
Mantle (MNT) has emerged as the top gainer in the crypto market, hovering to a new all-time high of $1.65 on September 11. The token is up 18% in 24 hours, 46% over the past week, and an spectacular 65% in the last month.
With a market cap of $5.3 billion and absolutely diluted valuation at $10.1 billion, Mantle’s surge is being fueled by its deepening partnership with Bybit.
The initiative, branded as “MNT x Bybit 2.0,” launched 21 new trading pairs against top belongings like ETH, SOL, ADA, and SUI. Bybit also launched a “HODL & Earn” marketing campaign, rewarding Mantle holders with a share of a 60,000 XUSD pool.
This has led to a sharp spike in exercise, with spot quantity climbing 41% to $655 million and futures quantity more than doubling to $268 million. Open curiosity jumped to $203 million, reflecting heightened speculative demand.
Technical Indicators Point to Momentum, and Risk
The breakout has positioned Mantle firmly above $1.60, with strong assist from short-term transferring averages.
The 10-day EMA at $1.32 and 20-day SMA at $1.22 are trending upward, while momentum indicators like MACD and Momentum stay bullish. Analysts counsel that if the uptrend continues, MNT might check resistance ranges of $1.80-$2.00.
However, warning alerts are rising. The RSI has climbed above 70, flashing overbought situations, while the Commodity Channel Index (CCI) surged above 300. Both indicators often precede short-term pullbacks. Bollinger Bands also show price hugging the higher band, suggesting high volatility forward.
What’s Next for Mantle (MNT)?
Mantle’s future trajectory will hinge on whether or not it may maintain demand generated by Bybit’s enlargement and its omnichain integration via LayerZero, which boosts utility across a number of blockchains. Its growing function in DeFi, related with a rising TVL of $1.8 billion, strengthens the bullish case.
However, analysts warn that profit-taking or broader market shifts might set off a correction toward $1.22–$1.36 assist zones. For now, investor confidence stays high, but the key query is whether or not Mantle can construct on its momentum or if the rally is nearing exhaustion.
Cover image from ChatGPT, MNTUSD chart from Tradingview
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