Today, Mantle (MNT), the native currency of the Ethereum Layer-2 network, experienced an impressive surge, reaching a record high of $0.949, according to data from Coinmarketcap. 

The primary driver behind this notable price increase is the growing awareness of the Ethereum Layer-2 ecosystem and the various applications offered by Mantle.

Functioning as an L2 scalability solution on the Ethereum blockchain, the Layer-2 network has witnessed substantial growth since its mainnet launch in July of the previous year. CoinGecko data reveals that it currently holds the sixth position among the largest Layer-2 chains, boasting a total locked value exceeding $219 million.

Recent Mantle Price Hike Attribution

The recent spike in Mantle’s value may be attributed to the ongoing development of the Mantle DeFi ecosystem, often referred to as “DeFi paradise.”

This ecosystem’s progress contributes to the overall positive sentiment surrounding Mantle, influencing its market performance. Moreover, the entire Layer-2 sector exhibited a 4.2% increase, with specific projects like IMX recording over a 7.5% rise and OP registering more than a 4% increase.

Adding to Mantle’s momentum, its native token, $MNT, has recently been listed on Nova_DAX and indodax. This expanded accessibility provides traders with enhanced opportunities to buy, sell, and trade $MNT across various centralized and decentralized exchanges (CEXs/DEXs).

As Mantle continues to gain attention within the Ethereum Layer-2 landscape, investors and enthusiasts are closely monitoring its developments and exploring the opportunities presented by its thriving ecosystem.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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