As a seasoned researcher with over two decades of experience in the financial market, I’ve seen my fair share of bull runs and bear markets. However, the current surge in Mantra (OM) has caught my attention like never before. The daily active addresses soaring to an all-time high, whale activity increasing, and the open interest in the futures market skyrocketing – these are indicators I’ve rarely seen aligned in such a way.
Confidence is high among analysts that Mantra’s price might increase, given the signals from crucial markers suggest a possible rise.
In recent times, this cryptocurrency has climbed to the top ranks within the altcoin market due to a staggering 570% increase in daily active users, reaching an unprecedented peak.
Active Addresses Soar
Experts have noted a rising enthusiasm among Mantra holders, who are eagerly awaiting potential airdrops in the near future. The news of an upcoming airdrop was shared by Cosmos, following a new record high for their coin and an increase in daily active users.
It appears that over the past three days, the number of daily active users for this cryptocurrency has dramatically increased by 573%, suggesting a growing interest among its owners and consequently boosting trade activity.
$OM hits ATH again!
Among the leading figures in the Real Wealth Alliance sector, it stands as a significant source of pride within the Cosmos environment.
Plus, an airdrop is coming in the next days!
Exciting growth!
— Cosmos Airdrops (@Cosmos_Airdrops) November 14, 2024
Currently, one OM coin is being traded for $3.35 – a record high – and its 24-hour trading volume surpasses $674 million. Over the past week, Mantra has experienced a remarkable price surge of approximately 132%. Its total market capitalization now exceeds $3 billion.
Furthermore, it’s worth noting that whale involvement in the market is increasing as a result of the recent price increase. For example, Spot On Chain reported that a significant investor, who had been holding Mantra since December 2023, recently acquired more coins to enhance his ownership of OM.
Besides the 18.27 million OM coins it already held, the whale also acquired an additional sum equivalent to $2.62 million in OM tokens.
As a researcher, I’ve noticed an intriguing surge in net inflows for Mantra, with whales or large holders contributing approximately 2.39 million OM, equivalent to around $5.75 million, on November 15, compared to the 716,040 tokens recorded on November 13. This significant increase hints at a growing interest from large-scale investors, which analysts view as a bullish sign for the OM market.
OM Hits All-Time High
Market analysts have shared that the value of Mantra has significantly risen approximately 50% within the last day, propelling it to reach a fresh peak in its history.
Experts have pointed out that over the last year, this cryptocurrency has soared above 10,000% in value, placing it amongst the most successful alternative coins in the crypto market.
Reaching this significant point not only solidified Mantra as the unique digital asset dedicated to Resident Welfare Associations (RWA) that achieved a staggering 100-fold return this year, but it also placed Mantra at number 44 on CoinGecko’s list when ranked by total market capitalization.
Furthermore, analysts noted an increase in the number of open contracts for the coin’s futures market, rising by 78.22% the previous day to reach an all-time high of $115 million. This significant jump is a stark contrast from the $24.70 million recorded in September.
Bullish Momentum
Experts anticipate that the value of Mantra will likely keep rising, given that its price has consistently stayed above the upper Bollinger Band at approximately $2.0850 on the chart.
The prediction made was backed up by data from the Average Directional Index (ADI), which showed a reading of 35.96 for the token. Notably, figures above 25 often signify that the market trends for a digital asset are robust.
According to market analysts, investors might find continued growth for Mantra, potentially leading to another price surge in the near future if they focus on relevant market indicators.
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2024-11-18 02:10