Analysts are confident that Mantra’s price could move upward as key indicators show a potential hike.
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The cryptocurrency has become one of the top performers in the altcoin market as daily active addresses surged by 570% and hit an all-time high.
Active Addresses Soar
Analysts pointed out that there is a growing excitement among Mantra holders as they are anticipating a possible airdrop in the upcoming days. Cosmos Airdrops made the announcement as the coin recorded a new all-time high and experienced a surge in its daily active addresses.
Data showed that the cryptocurrency’s daily active addresses skyrocketed by 573% in the last three days, indicating that the digital asset has an increasing appeal to its holders resulting in higher trading activity.
$OM hits ATH again! 🚀
It’s one of the strongest players in the RWA section and a true point of pride for the Cosmos ecosystem ☄️
Plus, an airdrop is coming in the next days! 👀 🪂
Exciting growth! pic.twitter.com/YBFxnj6uQB
— Cosmos Airdrops 🪂 (@Cosmos_Airdrops) November 14, 2024
As of writing, OM is being traded at $3.35 per coin – a new all-time high – with a 24-hour trading volume of more than $674 million. In the last week, Mantra has sustained an impressive 132% price increase. Its total market capitalization is over $3 billion.
Moreover, whale activity is also moving upward due to the recent price hike. For instance, Spot On Chain revealed that a whale who owned a large volume of Mantra since December 2023 recently bought more coins to boost his OM holdings.
The whale purchased $2.62 million worth of OM tokens in addition to the 18.27 million coins the whale already owned.
Further, Mantra’s net inflows from whales or large holders surged to 2.39 million OM worth $5.75 million on November 15 from 716,040 tokens recorded on November 13. Analysts said that the growing interest of large investors is a sign that the OM market is bullish.
OM Hits All-Time High
Market commentators said that Mantra’s price has increased by nearly 50% in the past 24 hours, to push the coin up to a new all-time high.
Analysts said that in the past 12 months, the cryptocurrency has increased by more than 10,000%, making it among the…
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