Mantra (OM) has recently demonstrated a notable upward trend, with its price increasing by 5.02% over the past 24 hours, now standing at $1.19. This price movement has had a significant impact on its market capitalization, which has risen to approximately $996,712,317, securing its position at #69 in the global cryptocurrency rankings. This increase underscores a growing investor interest and a positive shift in market sentiment towards Mantra.
The 24-hour trading volume for Mantra has experienced a substantial spike, reaching $27,087,267. This represents a significant increase of 113.65%, indicating a robust level of market activity and heightened interest from traders. The volume-to-market cap ratio is currently 2.67%, suggesting that trading activity is considerable but still relatively low in comparison to the overall market cap.
This ratio provides insights into the liquidity of the token and helps gauge market dynamics.Mantra’s total value locked (TVL) stands at $1,258,502. This metric is crucial as it reflects the total value of assets secured within the Mantra ecosystem.
The market cap to TVL ratio is approximately 801.07, indicating that the market value of Mantra is significantly higher compared to the total value locked in its protocols. This high ratio could suggest a disparity between market perception and actual value locked, or it may reflect investor expectations of future growth.
The circulating supply of Mantra is 836,873,350 OM, with a total supply of 888,888,888 OM. The close proximity of the circulating supply to the total supply indicates that most of the tokens are already in circulation.
This near-total circulation of tokens can influence market dynamics, including price stability and potential future fluctuations. The remaining tokens yet to be issued might impact the market as they are gradually introduced.
The fully diluted market cap for Mantra would be based on the total supply of tokens, which stands at approximately $1,058,767,042. This figure provides an estimate of the token’s total value if all tokens were to be in circulation, helping investors assess the potential future valuation of Mantra.
The recent price increase and trading volume surge suggest that Mantra is experiencing growing interest and positive sentiment in the market. Such developments could be driven by new updates, technological advancements, or increased adoption of the Mantra platform.
As with any cryptocurrency, it is crucial for investors to consider the inherent volatility and to stay informed about market trends and project developments.
In conclusion, Mantra (OM) is showing promising market performance with a significant price increase and high trading volume. The current market capitalization and total value locked highlight its growing presence in the cryptocurrency space.
Investors should keep an eye on ongoing trends, project updates, and market conditions to make well-informed decisions about their investments in Mantra.
