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Mantra Bulls Eye All-Time High
The post Mantra Bulls Eye All-Time High appeared on BitcoinEthereumNews.com. Mantra’s native coin OM has staged a comeback after noting a 5% price drop in the past week. Exchanging hands at $1.40, OM’s price has climbed by 9% over the past 24 hours. It currently ranks as the market’s top gainer during that period. With a surge in demand for the altcoin, it is poised to reclaim its all-time high of $1.62. The question remains: how soon can this happen? Mantra Whale Takes Action OM leads the crypto market gains with a 9% price uptick over the past 24 hours. This rally comes after the altcoin shed 5% of its value in the past seven days. The price uptick recorded in the past 24 hours is partly driven by the action of an OM whale. In a post on X, pseudonymous on-chain analyst Spot On Chain found that early Monday, the large investor withdrew 2.71 million OM (valued at $3.8 million) from Binance in three transactions, marking the first such move in seven months. Read more: What Are Tokenized Real-World Assets (RWA)? Whale 0xd1c Trading Activity. Source: Spot On Chain Previously, the whale had withdrawn 12.3 million OM from Binance and staked it. It currently sits on an unrealized profit of $15 million over the past seven months. Mantra Bulls Re-Emerge Apart from this whale action, OM’s price rally is also fueled by a surge in general market demand, as reflected in its spiking trading volume. Over the past 24 hours, this has totaled $68 million, climbing by over 300%. Per Santiment’s data, OM’s daily trading volume currently sits at its highest since July. OM Trading Volume. Source: Santiment When a surge in trading volume accompanies an asset’s price rally, it signals strong market interest. This combination is a bullish signal, as high volume suggests that the price increase is backed by substantial…
The post Mantra Bulls Eye All-Time High appeared on BitcoinEthereumNews.com.
Mantra’s native coin OM has staged a comeback after noting a 5% price drop in the past week. Exchanging hands at $1.40, OM’s price has climbed by 9% over the past 24 hours. It currently ranks as the market’s top gainer during that period. With a surge in demand for the altcoin, it is poised to reclaim its all-time high of $1.62. The question remains: how soon can this happen? Mantra Whale Takes Action OM leads the crypto market gains with a 9% price uptick over the past 24 hours. This rally comes after the altcoin shed 5% of its value in the past seven days. The price uptick recorded in the past 24 hours is partly driven by the action of an OM whale. In a post on X, pseudonymous on-chain analyst Spot On Chain found that early Monday, the large investor withdrew 2.71 million OM (valued at $3.8 million) from Binance in three transactions, marking the first such move in seven months. Read more: What Are Tokenized Real-World Assets (RWA)? Whale 0xd1c Trading Activity. Source: Spot On Chain Previously, the whale had withdrawn 12.3 million OM from Binance and staked it. It currently sits on an unrealized profit of $15 million over the past seven months. Mantra Bulls Re-Emerge Apart from this whale action, OM’s price rally is also fueled by a surge in general market demand, as reflected in its spiking trading volume. Over the past 24 hours, this has totaled $68 million, climbing by over 300%. Per Santiment’s data, OM’s daily trading volume currently sits at its highest since July. OM Trading Volume. Source: Santiment When a surge in trading volume accompanies an asset’s price rally, it signals strong market interest. This combination is a bullish signal, as high volume suggests that the price increase is backed by substantial…
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