Mantle Breakout Sets Stage for Potential $0.90 Target

Mantle's price has broken out of its months-long descending channel, sending the token's price skyrocketing. At around $0.57, MNT is trading up more than 4% on the day after reclaiming the $0.50 region and pushing through the channel resistance.

The breakout comes as Mantle reports stronger network activity. Data shows total unique addresses on Mantle Mainnet reaching 7.7 million in August, with total assets secured across native network vaults climbing above $800 million, an increase of more than 54% year-to-date.

Tokenized active strategies on the platform have also seen significant growth, with over $116.4 million in RWA-related capital deployed.

A whale wallet has been identified as purchasing approximately 1 million MNT for $518,330, alongside 100,000 LINK for $1.16 million within the same period. This adds another layer to MNT's momentum and reinforces the need to watch whether large holders continue positioning as MNT trades above its breakout zone.