MANTA grows by 9%, TVL jumps 72% after token listing

  • Since its itemizing, MANTA has grown by 9.19%.
  • Manta Community’s TVL jumped 72% since MANTA’s itemizing.

MANTA, the native token of zero-knowledge layer-2 (L2) community Manta Community, was the highest trending cryptocurrency out there as of this writing, based on CoinMarketCap.

One of many prime market gainers

The token gained greater than 6% within the final 24 hours of buying and selling to $2.52, with the day by day buying and selling quantity surging by a whopping 70%.

With this, MANTA took its general good points since its official airdrop on the 18th of January to 9.19%. The token additionally received listed on main crypto buying and selling platforms like Binance [BNB] on the identical day.

Supply: CoinMarketCap

Actually, Binance extensively promoted the token as a part of its MANTA launchpad. Customers have been allowed to stake their BNB and FDUSD tokens to farm MANTA tokens.

Manta Community grows greater

The itemizing of MANTA resulted in a steep surge in funds deposited on the Manta Community.

In line with AMBCrypto’s examination of L2Beat information, the overall worth locked (TVL) jumped from $891 million to $1.54 billion as of this writing, a bounce of 72% for the reason that token began exchanging public arms.

With this, Manta Community turned the third-largest L2 by way of TVL, occupying 7% of the market share.

Supply: L2Beat

Other than the spike in capital infusion, a major enhance in on-chain exercise was additionally noticed. The common transactions per second (TPS) on the community surged 75% over the week.

Supply: L2Beat

MANTA token’s utility

The MANTA token serves key functions on the Manta Community.

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Other than being the medium to pay transaction charges, customers can stake MANTA to contribute to the safety of the blockchain.

Plus the income and fuel financial savings assist in funding on-chain actions and zk functions, thus growing demand for blockspace. This leads to worth accrual for MANTA holders.

MANTA didn’t have an amazing begin

Whereas issues began to look good, there have been hiccups following the itemizing of MANTA token.

Is your portfolio inexperienced? Try the MANTA Revenue Calculator

The Manta Community was hit by a bootleg denial-of-service (DDoS) assault, severely affecting the communication between functions and the blockchain.

As of this writing, the incident has been resolved.

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