Details: Mantra (OM) Reaches New All-Time High with 193% Weekly Surge

Key signs point to a possible increase in Mantra's price, thus analysts are optimistic about the market.

Due to a record-breaking 570,000% increase in daily active addresses, the cryptocurrency has quickly risen to the ranks of the altcoin market's leading performers.

Analysts have seen that Mantra holders are becoming more excited about the prospect of an airdrop in the coming days, which might lead to an increase in active addresses. As the currency hit a new all-time high and saw a spike in its daily active addresses, Cosmos Airdrops made the announcement.

According to the data, the number of daily active addresses for the cryptocurrency increased by 573 percent over the last three days, suggesting that more and more people are interested in holding and trading the digital asset.

With a 24-hour trading volume of almost $674 million, OM is now trading at $4.24 per coin, setting a new all-time high. An astounding 193% price hike has been maintained by Mantra in the last week. More than $3 billion is the sum of its market capitalization.

As a result of the recent price increase, whale activity is also on the rise. For example, Spot On Chain found out that a whale who has been holding a lot of Mantra since December 2023 just increased his holdings by buying additional coins.

In addition to the 18.27 million coins it already possessed, the whale bought OM tokens valued $2.62 million.

On top of that, from 716,040 tokens on November 13 to 2.39 million OM worth $5.75 million on November 15, the net inflows from whales or huge holders of Mantra soared. According to analysts, the increasing involvement of major investors indicates a positive outlook for the OM market.

According to market watchers, the price of Mantra has soared to a new record high, with a gain of about 50% in the last 24 hours.

It is one of the best-performing cryptocurrencies in the market, according to analysts, having risen in value by over 10,000% in the last year.

This achievement solidified Mantra's position as the only digital asset centered in RWA to achieve a 100-fold return this year. In terms of overall market capitalization, Mantra was ranked 44th by CoinGecko.

The open interest in the coin's futures market also surged, according to experts, rising to a new high of $115 million, a 78.22% increase over the previous day. From $24.70 million in September, this amount represents a significant increase.

Since the Mantra token is now trading at $2.0850, which is above the upper Bollinger Band, momentum analysts are projecting that the price will continue to rise.

Data from the Average Directional Index reading, which the token has recorded at 35.96, provide credence to this prediction. Values exceeding 25 often indicate a significant trend around a digital asset.

Investors may see further price rallies in the near future for Mantra if market watchers are to be believed.

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