Mantle Up 20% Ahead Of The Ethereum Dencun Upgrade

The price of the Mantle (MNT) coin jumped significantly. (Photo; Doc. CoinMarketCap)

JAKARTA - Mantle (MNT), one of Ethereum's Layer-2 (L2) network-based DeFi tokens, has seen a 20% price increase in the last 24 hours. This price increase comes ahead of Ethereum's plan to implement a Dencun upgrade which is expected to increase network scalability and efficiency.

For information, Dencun is a large upgrade or hard fork' planned for the Ethereum blockchain network, which will enable proto-danksharding', a technical feature that will lower transaction fees in L2, and allow cheaper and available data on the blockchain.

Mantle (MNT) is the original token of the Mantle Network, an L2 technology layer to improve Ethereum scalability, and is the first core product of the Mantle Ecosystem. Mantle Network strives to be compatible with the Virtual Ethereum (EVM) Machine, which allows developers to build and run decentralized applications (dApp) on board Ethereum at lower cost and higher speed.

Mantle (MNT) also functions as a utility token in the ecosystem for the Mantle Network, as well as a governance token for Mantle Governance. In addition, Mantle (MNT) is also used to pay for gas fees on other L2 networks that are integrated with the Mantle Network, such as Optimism, Arbitrum, and ZKSync.

Mantle (MNT) experienced a strong price spike in the last 24 hours, reaching 0.95 US dollars (Rp14,843.75) per token, with a market capitalization of more than US$3 billion (Rp46,875 trillion), and 24-hour trading volume jumped 200% to more than US$175 million (Rp2.734 trillion).

This spike comes in line with growing network activity and investor interest in DeFi tokens linked to Ethereum's L2 scalability platform, especially after Uniswap's announcement last week of the L2 version of the world's largest decentralized token exchange protocol.

With Mantle (MNT) experiencing a substantial expansion, he has raised more than $1.5 billion (IDR 23.437 trillion) at stake for Ethereum as a mETH (Mantle Planted Ethereum), which is a token representing Ethereum stored on the Mantle Network. Furthermore, he plans to provide an attractive airdrop for the mETH holder.

Mantle (MNT) has bright prospects, as it offers innovative and flexible scalability solutions for Ethereum, which can improve the experience of dApp users and developers. Mantle (MNT) also has a strong ecosystem, supported by established partners and collaborators, such as BitDAO, Bybit, Huobi, and others.

The Ethereum Dencun is also expected to have a positive impact on Mantle (MNT) and other DeFi L2 tokens, as it will significantly lower transaction fees, making the L2 chain a more attractive and affordable option for Ethereum users and developers.

Thus, Mantle (MNT) and the Ethereum Dencun are the two main factors that can drive the growth and adoption of the DeFi and crypto industries as a whole.