crypto.news 2025-03-19 06:01:31

Mantra surges 12% in a week to become the second-largest RWA project: Can OM reach $10 next?

Mantra price has continued its upward trajectory, rising 12% in the last week to take the second spot among Real World Asset tokens in terms of market capitalization. Now boasting a market cap of approximately $6.8 billion and rivaling Chainlink ( LINK ), Mantra ( OM ) has emerged as one of the best-performing layer 1 tokens in 2025. Looking at the chart, OM has been on a strong uptrend since early 2024, climbing from near zero to almost $10. The recent rally comes after a short period of consolidation, where the price held above key support levels before breaking out again. OM technical analysis. Credit: crypto.news With indicators pointing to additional upside potential, OM is currently trading at about $6.90. An impending spike in volatility is indicated by the tightening Bollinger Bands. While the MACD is still in buy territory, the RSI is at 58.28, showing neutral-to-bullish momentum. An ADX reading of 36.31 confirms that the trend is strengthening. You might also like: MANTRA launches RWAccelerator program to boost RWA startups The previous local high of $8.17 is one important resistance level to keep an eye on. A push toward $10, a significant psychological milestone, could be triggered by a breakout above this level. Support on the downside is located at $6.76 and $5.54, which correspond to the lower Bollinger Band and the 20-day moving average. Additionally, open interest in OM futures has increased, rising from a monthly low of $319 million to $378 million, as shown by Coinglass data . This indicates that traders are increasing their exposure, which often points to growing confidence in price direction. Beyond price action, OM’s fundamentals remain solid. The project has tokenized over $500 million in assets, including real estate, and successfully secured a Virtual Asset Service Provider license from Dubai’s regulator in February. Strategic alliances have also helped it grow, with deals totaling over $1 billion, including a major partnership with DAMAC Group in early 2025. Meanwhile, the community is gearing up for Mantra airdrop amid technical challenges. Following the discovery of more than 123,000 fraudulent wallets during its GenDrop campaign, on Mar. 18, Mantra opened up a 48-hour-long governance vote to decide how to handle 26.9 million OM that were flagged as suspicious. In order to avoid deliberate market manipulation, the team confirmed that the GenDrop allocation will be released without prior notice and will constitute a 10% unlock, or 1,987,555.64 OM. Read more: Ethereum price on the brisk as Hyperliquid trader makes $86m profit

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