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OM IS ON FIRE: crisis does not touch MANTRA
By Gabriele Brambilla
MANTRA's coin OM is the best performer in top 100, with near 100 percent gain in 30 days
OM flies and ignores the crisis
At a time when altcoins are not faring well, a few cases that go against the grain are fortunately there; we are talking about OM, a coin native to the MANTRA project, which continues to fly at airliner heights.
Over the past 30 days, OM is the top performer among cryptocurrencies in the top 100 by market capitalization, with a value increase close to triple digits (up about 97 percent at the time of writing). MANTRA’s coin far outpaces the second (Onyxcoin for CMC, Telcoin for CoinGecko) and third (Monero XMR).
Here is a chart from TradingView, with Binance data, showing OM’s spectacular performance:
We immediately note that the current level, $7.6, is a resistance formed a few days ago: it is the closing price of Saturday, January 15, the day when this crypto touched a new All-Time High touching $8.2, only to fall back a few tens of cents.
What will happen now? Hard to say, because the territory is uncharted. Breaking resistance we would go toward a new ATH, and then enter the unknown world of price discovery. Conversely, in case of retracements, we keep a close eye on some supports such as $6.2 and, more convincingly, the level at $5.8.
Note: We advise caution if you are considering an entry now; OM is experiencing a very strong uptrend and a retracement could hit the late entrants hard.
About MANTRA
MANTRA is a layer 1 blockchain specializing in RWA built using Cosmos SDK and based on a Proof of Stake consensus algorithm.
The project allows developers and institutions to bring their own applications to life with relative ease using prefabricated modules, SDKs and APIs.
Scalability is central, enabling performance of up to 10,000 transactions per second.
The project’s native coin OM has a total supply of 1.8 billion, of which 972 million are actually circulating. In contrast, there is no maximum supply.
Why does MANTRA grow?
There are several reasons behind OM’s tremendous growth in value. One of the most significant is the recent addition of Republic as the project’s validator. For those unfamiliar with this name, this is a huge player in our industry, with big companies like Binance and Coinbase behind them, but also projects like Polygon.
Republic already plays the role of validator for other leading entities such as Near Protocol and Sui.
In addition, MANTRA is showing a consolidation of fundamentals, having now positioned itself as a major player in Real World Assets (RWA). In fact, the sector continues to garner the attention of outside investors, including heavy hitters such as BlackRock and Franklin Templeton.
Moving to the exchange side, a few days ago Bybit also introduced the network and it is now possible to trade OM on the spot market. Considering the liquidity on this platform, this is very good news for Mantra.
In closing, other “good of the class” from the past 30 days include Litecoin (ETF rumors push the coin), PancakeSwap CAKE, and S, formerly known as FTM, Fantom’s native coin (now renamed Sonic).
