Mantle Price Rallies on Blockworks Dashboard Launch
The Mantle network has seen a surge in activity and price following the launch of its real-time data dashboard on Blockworks. The dashboard provides an overview of the network's financials, tokenized assets, and DeFi activity. Key metrics include 256 million cumulative transactions, 840 tokenized assets with a value of $290 million, and a stablecoin circulating supply of over $543 million.
The data suggests that the network has grown significantly since its total value secured level in 2023 was just $330 million. The Mantle price has reacted positively to this new information, extending the rally that began in early August. It is now trading around $0.4522 after flipping its 50-day EMA band.
However, the next test for the token will be considerably tougher as it faces resistance at the 200-day EMA of $0.60. If buyers manage to clear this level, the next resistance area would be $0.84. The chart is looking more interesting with the current recovery, but a loss of momentum could send Mantle lower.