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MANTRA (OM) outperforms top altcoins as price soars 11%

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MANTRA, a real-world asset (RWA) layer-1 blockchain, is an outlier within the crypto market as we speak, outperforming all main cryptocurrencies with a notable 11% achieve.

With features approaching the again of a significant platform milestone, the native OM token reached $0.89 on Thursday. These are features that helped MANTRA recoup a lot of the losses suffered when the altcoin dropped to $0.68 on Wednesday.

MANTRA surges after main RWA partnership

MANTRA launched its native token in October 2020, and has not too long ago witnessed a significant shift in sentiment because the RWA narrative strengthened.

This tokenization drive noticed a significant bullish flip on July 3 when MANTRA introduced a partnership with MAG Group Holding, a United Arab Emirates actual property large.

In its announcement of the groundbreaking deal, MANTRA mentioned it is going to assist to tokenize $500 million price of actual property property for the Dubai-based conglomerate. Buyers will earn yields in stablecoins and the native token OM.

“By combining MANTRA’s safe RWA-focused blockchain with MAG’s established presence within the UAE’s actual property market, we intention to unlock the total potential of RWA compliance inside the Center Jap area and past,” MANTRA wrote in a weblog put up.

OM token rose after the information and has continued to outpace the highest 100 cryptocurrencies by market cap. Per CoinMarketCap, MANTRA is at the moment the highest gainer forward of Pendle (PENDLE) and Secure (SAFE) – each with lower than 2% features up to now 24 hours.

OM is prone to attain a brand new all-time excessive if bulls stay in management as costs maintain close to the present $0.80 degree. Notably, MANTRA value rose to its ATH of $1.09 on June 10, 2024 amid one other partnership within the UAE.

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