TL;DR
- Mantle’s daily active users skyrocketed 1,600% in one month, showing a surge in network engagement and user confidence.
- A $392 million ETH allocation into the Strategic Ethereum Reserve positioned Mantle among the top ETH holders in Web3.
- MNT’s trading volume surged over 200% in 24 hours, helping the token reach $0.8802 with a market cap of $2.96 billion.
Mantle (MNT) has roared back to life with a 9.88% daily jump, pushing its price to $0.8802, its highest point since March. In just 24 hours, trading volume soared past $645 million, more than triple the volume seen just weeks ago. This sudden spike in attention comes as the Layer 2 network sees accelerating user and institutional activity.
According to Artemis Analytics, Mantle’s daily active addresses grew from 7,000 to over 120,000 in just 30 days, a 1,600% rise. This rapid expansion highlights not only user interest but also network utility. The pace and scale of this growth suggest that Mantle is successfully capturing demand from both DeFi users and emerging dApp developers looking for scalable infrastructure.
Strategic Ethereum Reserve Move Strengthens Market Confidence
In mid-July, Mantle entered the Strategic ETH Reserve (SΞR) by allocating 101,867 ETH (around $392 million) to its treasury. This makes Mantle the 8th largest ETH holder among Web3 entities. The move coincided with Ethereum’s rally from $3,000 to $4,000, tightening MNT’s correlation with ETH price action.
Investor CyrilXBT noted,
“This isn’t noise. Mantle is stacking ETH and aligning with Ethereum’s strength. It’s a smart long-term play.”
Additionally, the mETH protocol is gaining ground. Built on Mantle, it optimizes ETH rewards through staking and restaking. Mantle currently holds over $320 million in ETH-related assets across mETH, cmETH, and native ETH.
TradFi-DeFi Integrations and Institutional Interest Fuel Momentum
The network’s growth is also fueled by UR, a new financial app that connects traditional banking tools with decentralized finance. Built on Mantle, UR expands the real-world utility of MNT.
Republic Technologies recently shifted a large part of its ETH reserves into mETH, further validating Mantle’s infrastructure. This kind of institutional trust is often a leading signal of deeper capital inflows and protocol resilience.
Despite this growth, CoinMarketCap data reveals that over 89% of MNT is held by the top 10 wallets, with the treasury controlling 49%. This distribution supports strategic use but also raises centralization concerns.
MNT remains 40% below its all-time high of $1.50, suggesting more room for upside.
