- With a remarkable 11% rise, MANTRA, a real-world asset (RWA) layer-1 blockchain, stands out in the current cryptocurrency market.
The native OM token hit $0.89 on Thursday, rising on the heels of a significant platform milestone. With these advances, MANTRA was able to recover the majority of the losses incurred when the altcoin fell to $0.68 on Wednesday.
MANTRA soars following a significant RWA alliance
Since the RWA narrative became more compelling, MANTRA, which debuted its native token in October 2020, has seen a significant change in opinion.
On July 3, MANTRA announced a cooperation with MAG Group Holding, a real estate titan in the United Arab Emirates, which resulted in a significant bullish flip in this tokenization effort.
MANTRA claimed in its announcement of the ground-breaking agreement that it will assist the Dubai-based group in tokenizing $500 million worth of real estate assets. Yields in stablecoins and the native token OM will be paid to investors.
We want to unlock the full potential of RWA compliance across the Middle Eastern area and beyond by combining MAG’s well-established expertise in the real estate sector in the United Arab Emirates with MANTRA’s secure blockchain focused on RWA, the company stated in a blog post.
Following the news, OM token increased and has since surpassed the top 100 cryptocurrencies by market capitalization. With fewer than 2% gains over the last day, Pendle (PENDLE) and Safe (SAFE) are presently the top gainers on CoinMarketCap, trailed by MANTRA.
If bulls continue to maintain control and prices keep close to the current $0.80 level, OM is expected to hit a new all-time high. Notably, on June 10, 2024, amid another cooperation in the UAE, the price of MANTRA reached its ATH of $1.09.
Disclaimer : This article was created for informational purposes only and should not be taken as investment advice. An asset’s past performance does not predict its future returns. Before making an investment, please conduct your own research, as digital assets like cryptocurrencies are highly risky and volatile financial instruments.
