Aurora

World

when

Cosmos

Mantra price rose for three consecutive days, becoming one of the best-performing cryptocurrencies as most others declined. 
Mantra (<a href="https://crypto.news/price/mantra/" target="_blank">OM</a>) token rose to $4, slightly above the lowest level this week. This rebound pushed the token’s market cap to over $3.8 billion. 
Its rally occurred even as the staking yield dropped to 15.4%. This represents a decline of over 12% in the last 24 hours, according to <a href="https://www.stakingrewards.com/asset/mantra-dao" target="_blank" rel="nofollow">StakingRewards</a>. This drop happened despite the staking market cap rising by over 5% to $2.4 billion. 
Still, Mantra offers one of the highest staking rewards in the crypto industry. For instance, Polygon yields 5.6%, while Ethereum (<a href="https://crypto.news/price/ethereum/" target="_blank">ETH</a>) and Solana (<a href="https://crypto.news/price/solana/" target="_blank">SOL</a>) yield 3.2% and 6%, respectively. 
Staking involves delegating tokens to help secure a network. Yields typically come from the fees the network earns and are distributed monthly. 
 You might also like: <a rel="" href="https://crypto.news/chainlink-price-reverses-as-one-whale-keeps-accumulating-link-tokens/"> Chainlink price reverses as one whale keeps accumulating LINK tokens </a> 
Mantra’s high staking yield has contributed to its status as one of the best-performing cryptocurrencies this year, with its price increasing by over 7,200% from its lowest point. 
This rally intensified recently when the network launched MantraChain, a layer-1 network for building Real World Asset tokenization products. MantraChain aims to become the main blockchain for developers in the fast-growing tokenization sector. 
According to its developers, the chain addresses the blockchain trilemma of decentralization, security, and scalability by leveraging Cosmos SDK, one of the most popular frameworks in the crypto industry. 
The tokenization industry has grown significantly in recent years. For example, <a href="https://crypto.news/heres-why-ondo-finance-crypto-could-soar-26-soon/" target="_blank">Ondo Finance</a> (<a href="https://crypto.news/price/ondo/" target="_blank">ONDO</a>), a leading tokenization project, has accumulated over $600 million in assets. Other tokenized assets, such as BlackRock’s BUIDL and Franklin Templeton’s FOBXX, have a combined total of over $1 billion in assets. 
<h2 class="wp-block-heading" id="mantra-price-prepares-a-big-move-ahead">Mantra price prepares a big move ahead</h2> 
<figure class="wp-block-image size-full">
 <img loading="lazy" decoding="async" width="3574" height="1982" src="https://crypto.news/app/uploads/2024/12/Mantra-Price-1.png" alt="Mantra price" class="wp-image-14320477">
 <figcaption class="wp-element-caption">
 Mantra price chart | Source: <a href="https://crypto.news/price/mantra/" target="_blank">crypto.news</a>
 </figcaption>
</figure> 
The daily chart shows that OM price has been consolidating in recent weeks following its vertical rally in November. 
This consolidation phase forms part of a bullish pennant chart pattern, a popular continuation signal. The pattern consists of a long vertical line followed by a symmetrical triangle. Assets typically experience strong breakouts when the triangle approaches its confluence point. 
If the pattern holds, OM price could rebound and initially rise to its year-to-date high of $4.5. A move above that level could signal further gains, potentially pushing the price to the next psychological level of $5. However, a drop below the support level at $3.5 would invalidate the bullish outlook. 
 You might also like: <a rel="" href="https://crypto.news/aurora-labs-launches-turbochain-and-turboswap-to-improve-the-turbo-ecosystem/"> Aurora Labs launches TurboChain and TurboSwap to improve the TURBO ecosystem </a>

Mantra price is on the verge of a massive breakout as staking yield falls

Table of Contents

crypto.news

Other articles published on Dec 18, 2024

Metaplanet Establishes Bitcoin Treasury Operations as Official Business Line

Trump’s inauguration may trigger crypto sell-off, says Arthur Hayes

Bitcoin ETFs Set to Surpass Gold ETFs in Asset Scale, Says ETF Store CEO

Ethena Labs proposes collab with Trump-backed WLFI

5 High Potential Crypto Presales Set to Deliver Massive Profits

Crypto.com Appoints Al Hakim as President for UAE Operations

Join our free newsletter for daily crypto updates!