Mantle's Uptrend Hints at Accumulation, But Profit-Taking Looms
Mantle (MNT), an altcoin in the Layer-2 sector, has seen significant gains in recent days, rising by 7.71% since August 4th and achieving five consecutive green trading days.
According to data from Santiment, the Mean Coin Age metric indicates that long-term holders are accumulating MNT, as it has been trending upward since March. This trend suggests that distribution phases in 2025 and early 2026 may be a thing of the past.
The 30-day holder MVRV (Mantle Value to Revenue) ratio rose to 2.77%, signaling that short-term holders are now at a slight profit. Historically, this can lead to profit-taking and selling pressure, as seen in May and early July.
However, the 6-month MVRV remains well below zero, indicating that longer-term holders are still facing significant losses. This situation could lead to sizeable price rallies being sold at or near breakeven by these holders.