TL;DR
- MNT’s circulating market value soared 189.8% QoQ, driven by integration with Bybit.
- Mantle Network’s TVL grew 14%, led by the AGNI Automated Market Maker (AMM) protocol.
- The partnership with Bybit transformed MNT into a platform asset with fee discounts and VIP benefits.
Mantle Network, a layer 2 chain focused on onchain finance, reported an exceptional quarter in Q3 2025. The MNT token showed impressive performance, with its circulating market capitalization soaring 189.8% Quarter-over-Quarter (QoQ), rising from $2.0 billion to $5.7 billion.
The price of MNT also increased by 199.8%. This strong growth is largely attributed to the deep integration the project has established with the Bybit exchange, where MNT was positioned as a central platform asset, improving liquidity and utility. The network, which uses an EVM-compatible optimistic rollup and EigenDA, continues to pursue its goal of being the ecosystem’s “liquidity chain.”
The impact of this strategy was notable across Mantle’s infrastructure. Mantle Network’s Total Value Locked (TVL) grew 14% in Q3, from $212.5 million to $242.3 million, driven primarily by AGNI, an Automated Market Maker (AMM) that recorded a 129.9% QoQ growth in its TVL.
Mantle’s robust treasury, valued at approximately $5.6 billion and community-owned, anchors an ecosystem that prioritizes Real World Assets (RWA), DeFi, and restaking. There was also an increase in user activity, with daily active addresses rising 334.6% and a 66.2% increase in quarterly revenues in USD.
The Transformation of MNT to a Central Asset on Bybit
The change in relationship with Bybit went beyond a simple listing. The partnership was formalized through a joint roadmap that transformed MNT into a platform asset for trading, VIP benefits, and institutional products.
Bybit listed 21 new MNT-quoted spot pairs and activated trading fee discounts of up to 25%. For institutional clients, the “MNT x Bybit Institutional” program was launched, which allows using MNT as collateral to unlock greater leverage and longer fixed-rate loan terms.
This deepening of MNT’s utility through a top-tier partner is the main driver behind Mantle Network’s growth, consolidating its modular approach and its commitment to sustainable and efficient liquidity in the onchain space.
