15.02.2025 12:44
The altcoin Mantra (OM) soared to unprecedented heights on Saturday, reaching a new all-time high of $8.20. This surge, fueled by investor enthusiasm surrounding a new centralized exchange listing, represents a remarkable year-to-date gain exceeding 100% and an astounding 2,600% increase over the past 12 months. This impressive growth has propelled Mantra's market capitalization to over $7.6 billion, securing its position as the 22nd largest altcoin in the cryptocurrency market.
The catalyst for this price explosion was Mantra's integration with Bybit, a major centralized cryptocurrency exchange (CEX). Following the listing, trading volume on Bybit immediately skyrocketed. A lucrative incentive program, offering a prize pool of 120,000 OM tokens (valued at over $912,000), further fueled the trading frenzy. CoinMarketCap data reveals a 24-hour trading volume of $36 million on Bybit alone, while the combined volume across both centralized and decentralized exchanges (CEX and DEX) witnessed a staggering 267% increase, reaching $755 million.
Adding further fuel to the rally is an impending airdrop aimed at rewarding loyal OM token holders. The developers plan to distribute 50 million OM tokens, currently worth over $375 million. This initiative, dubbed "Sybil Slaying Season," commenced on February 13, 2025, with the stated goals of rewarding genuine community members, ensuring the ecosystem's long-term health, and bolstering sustainability. The airdrop will be executed in two phases, each with its own reward structure.
Mantra's remarkable ascent coincides with a growing demand for real-world asset (RWA) tokenization. Industry giants like Blackrock, Apollo Global Management, and Franklin Templeton have already entered the arena with their own tokenized products. Similarly, Ondo Finance has launched a network designed to facilitate the tokenization of American stocks, a development with significant potential to expand global investor access to U.S. equities and potentially bonds. This trend further strengthens the narrative surrounding Mantra's growth and potential for future appreciation.
