Mantle (MNT) Price Rises 30% in Two Days Following Bybit Staking Launch
Mantle (MNT) Price Surge
- Mantle gained 13% on August 16, reaching $1.30, marking a 30% increase over two days.
- The rally occurred despite a downturn in the broader crypto market due to higher-than-expected U.S. PPI data.
- Bitcoin fell from an all-time high of over $124,000 to $117,000, affecting other top altcoins like Ethereum and Solana.
Bybit EU Launchpool Announcement
- The initial price increase was triggered by Bybit EU's launch of its first pool featuring MNT on August 14.
- Participants can stake MNT alongside XION and USDC to earn rewards from a 100,000 XION pool.
- This marks the first MiCA-compliant staking product on Bybit, facilitating Mantle's integration into regulated European markets.
New Use Cases for MNT
- On August 16, Mantle and Bybit launched two additional use cases: "Double Win" on Bybit Earn and collaboration with the Crypto Content Creator Campus.
- "Double Win" allows MNT holders to profit from market volatility.
- The partnership enables creators to buy event tickets and access tools using MNT.
MNT Price Forecast
- MNT has reached $1.30 for the first time since January 2025; however, resistance is noted between $1.31 and $1.40 due to significant short positions.
- Long positions total $16 million, indicating bullish support against $5.74 million in shorts.
- Trading volume peaked at $599.3 million, signaling strong market participation.
- A potential short squeeze could push MNT beyond $1.40, with targets towards $2 if upward momentum continues.
- If MNT fails to maintain levels above $1.30, it may drop toward $1.20 amid broader market weakness.
BTC Hyper Presale
- Emerging Layer 2 project BTC Hyper has secured $5.46 million in presale funds, indicating strong demand.
- Offers include fast, low-cost Bitcoin transactions and staking rewards of up to 1,052%.