Key Takeaways
Mantle surged 21% in 24 hours following its UR launch. Price action stayed bracketed between dense liquidity zones, with the $0.70–$0.80 range holding heavier clusters than resistance levels near $0.90.
Mantle [MNT] climbed 21% in the last 24 hours, trading at $0.8701 as of the 5th of August.
The Market Cap surged to $2.92 billion, while the Daily Trading Volume spiked 274% to $483.63 million, according to CoinMarketCap.
This breakout came as Mantle continued to frame itself as “the blockchain for banking,” with momentum building around UR, its upcoming borderless neobank.
Why is MNT up today?
Much of MNT’s recent rally was driven by excitement around the UR beta testing window, which is set to close on the 8th of August.
UR, a Swiss-backed on-chain neobank, offers users a multi-currency account and a Mastercard debit card, aiming to simplify global finance through blockchain technology.
According to Head of Product Joshua Cheong, UR’s modular infrastructure integrates Ethereum-grade security, enhancing trust and scalability.
On the 5-minute chart, MNT showed a strong uptrend starting near $0.70. If momentum continues, the token could reclaim the $1 mark, though a correction remains a possibility.
Also, other fundamentals for Mantle have been trending with Total Value Locked (TVL) at $1.40 billion. The Stablecoin Supply on Mantle hit an all-time high of $500 million.
The official rollout is expected in this third quarter with more attention in sight. The Daily Active Users were at 123K, as of writing, and could also skyrocket then.
Will momentum hold amid rising inflows?
Of course, momentum wasn’t just speculative—it was supported by actual inflows.
Mantle attracted $26.96 million in net inflows, outpacing Ethereum [ETH] ($9.99 million) and Polygon [MATIC] ($3.6 million), as seen in the latest bridge flow chart.
This pushed Mantle’s 30-day bridged volume to $77.37 million. Withdrawals also played a role.
Per CoinGlass, Bybit exchange led outflows of MNT tokens with $9.85 million against Upbit’s $2.16 million. The withdrawal from exchanges added to the bullishness as they reduced the circulating supply in the exchanges.
Source: X
Meanwhile, liquidity was building below the current price levels. MNT’s price was confined between two key clusters.
The levels ranging between $0.75 to $0.85 contained denser clusters as compared to those at $0.95 and above.
Where is Mantle’s liquidity clustering?
Looking ahead, Mantle’s price was hovering in a zone rich with liquidation clusters.
According to CoinGlass heatmaps, price was pinned between $0.75 and $0.85, where buy-side liquidity had been building.
Source: CoinGlass
Alternatively, the other set at $0.95 also acted as an important zone of interest. MNT price could target the liquidity, which would lead to a further rise if these orders were shorts and got liquidated.
