Mantle Price Today

The current real-time Mantle price is $1.16 . MNT price has plummeted by 5.53% in the last day and decreased by 3.84% in the last seven days. It’s important to note that the current Mantle market capitalization is $3,909,946,531. The maximum supply is 6,219,316,795.00 MNT coins, with a circulating supply of 3,366,841,707.84. MNT is ranked #35 in terms of market cap.

Mantle Explained

Mantle (MNT) is a powerful layer-2 scaling solution created for the Ethereum network. The project was designed to allow developers to build Decentralized Applications (dApps) with exceptional user experience. As an Ethereum layer, Mantle can facilitate fast and efficient transactions while inheriting its parent network's security and decentralization. 

Mantle was launched in 2023 by the Decentralized Autonomous Organization (DAO), BitDAO. BitDAO proposed Mantle as a way to connect the various projects it was building together. In 2023, the two projects merged, with BitDAO becoming Mantle and Mantle gaining access to BitDAO's multi-billion dollar treasury. 

How Mantle Works 

Synergizing well with Mantle's use as an Ethereum layer-2 scaling solution, the project will also implement support for the Ethereum Virtual Machine (EVM) layer, essentially a virtual computer running on the Ethereum blockchain. In doing so, Mantle makes it easy for developers to port projects over to its network. 

Mantle was initially built using Optimism's Optimistic Virtual Machine (OVM)  technology, which is designed for fast transaction speeds and security by requiring verification for suspicious transactions. However, the project switched to the Optimism OP Stack in 2024, which introduced enhancements to performance and scalability.

The Mantle ecosystem is varied, consisting of hundreds of highly scalable dApps, a grants program for new projects, a crypto staking system for wrapped Mantle Ethereum (mETH), a bridge from the Ethereum mainnet to the Mantle network, and a governance system that gives token holders voting rights on updates to the project. 

Being built on the Ethereum network, Mantle uses the Proof-of-Stake (PoS) consensus mechanism for transaction validation. However, the network doesn't support direct MNT staking. Users have to use third-party crypto-staking platforms instead. That said, users can directly stake mETH on the Mantle platform.

Unique Aspects of Mantle

When Mantle first launched, the BitDAO token (BIT) was used to pay gas fees and for governance purposes. However, following the V2 Tectonic upgrade, Mantle now utilizes its proprietary MNT token for these purposes. Moreover, MNT can be used as collateral for people running Mantle network nodes, which are used to bundle transactions before they’re committed to the Ethereum mainnet.

The project has also created the Mantle Rewards Station, which enables token holders to pledge their MNT to earn crypto rewards paid in various tokens. The system requires users to pledge MNT to various new projects, locking their holdings for fixed or flexible terms. When the lockup period matures, the person staking earns crypto from the new project and can claim their MNT back.

Many cryptocurrencies, like Bitcoin, are monolithic, meaning all key functionality is handled within a single layer, which leads to subpar scalability. However, Mantle is a modular blockchain, meaning the project's core functions are divided across multiple layers, which can be conveniently swapped out when performance upgrades or new implementations are needed. 

Mantle Price History – Launch to Today

Mantle was launched recently, in July 2023. However, the project has attracted attention from investors, prompting its growth. MNT was available for around $0.5792 upon its launch, but the asset quickly fell, leaving August at a price of $0.4514, a 22% discount compared to its launch value. 

Demand for Mantle increased substantially in October 2023 as the team announced positive updates and new partnerships. As a result, MNT rose significantly from $0.3249 in mid-October to $0.6424 at the start of 2024, an almost 100% increase within less than three months. 

The next few months saw MNT experience an equally exciting move. Fueled by positive market sentiment, upgrades to the Mantle network, and increased demand for layer two scaling solutions, MNT rose from around $0.59 at the end of January to its all-time high of $1.5051 by April. 

Since hitting its high, MNT has struggled. The asset has fallen alongside the broader crypto market, trading for $1.16 today.