The worth of Manta Community’s native token surged to a brand new all-time excessive on Jan. 24, altering fingers for almost $3 lower than every week after an airdrop for early supporters.
Manta Community (MANTA) noticed double-digit good points because the cryptocurrency nestled across the $2.89 value stage at press time, per CoinMarketCap. In 24 hours, the token elevated by 30%, and its buying and selling quantity jumped above $500 million throughout venues like Binance.
Manta’s market capitalization earned the coin a spot among the many high 100 cryptocurrencies available on the market. Moreover, the protocol’s whole worth locked (TVL) has grown in leaps and bounds since launching in January.
In line with DefiLlama, there may be over $430 million value of TVL on Manta throughout all blockchains. This makes it one of many 10 largest decentralized protocols proper behind Coinbase’s layer-2 community Base, Avalanche L1, and Polygon, an Ethereum scaling answer.
Manta has seemingly loved this preliminary success shortly after launching its token through the Binance Launchpad because the forty fourth cryptocurrency on this platform. Different protocols like Xai launched in the identical manner noticed ascending value actions within the days after rollout.
Constructed with Celestia’s modular information availability answer and Polygon’s developer stack, Manta affords customers a multi-modular blockchain with assist for 2 widespread crypto applied sciences: zero-knowledge or zk and Ethereum Digital Machine-compatibility, aka EVM.
The protocol achieves this by means of two platforms particularly Manta Atlantic and Manta Pacific. Collectively, the pair had been marketed as a Polkadot-based zk L1 community and a layer-2 blockchain with EVM assist respectively.
Early testers and supporters had been reportedly rewarded with an airdrop, a distribution of free tokens frequent amongst burgeoning crypto protocols aiming to seize customers and decentralized finance members.
Airdrop recipients had been stated to obtain four-figure sums in free MANTA tokens after spending subsequent to nothing farming the community.
Following the occasion, Manta’s community was hit with a classy cyber siege generally known as a DDoS assault. Nevertheless, the protocol tackled the assault and return operations to normalcy swiftly.
