MANTRA Trading Volume Surge

MANTRA trading volume has spiked by 55% as OM is potentially heading to $10, having broken out of a bullish flag pattern.

Trading Volume and Price Increase

MANTRA (OM) trading volume surged by 55% in the past 24 hours, coinciding with a slight uptick in the token’s price. As of the time of writing, Mantra’s price stands at $7.50, up by 3% on the daily timeframe. Over the past week, it’s up by 36% and an impressive 110% over the past month. The current market capitalization sits at $7.36 billion, making it the 22nd top cryptocurrency by market cap, according to Coinmarketcap.

Reasons for Increased Activity

The boost in trading activity appears to have been spurred by OM’s recent listing on Crypto.com, which took place on Feb. 20. It also follows a series of positive announcements from the project. On the same day of the listing, MANTRA launched RWAccelerator, backed by Google Cloud, to support projects exploring the tokenization of real-world assets.

Key Developments

Licensing and Expansion

Earlier, on Feb. 19, MANTRA announced it had secured a Virtual Asset Service Provider (VASP) license from Dubai’s Virtual Assets Regulatory Authority (VARA). This license enables MANTRA to expand its operations in the MENA region, providing services such as broker-dealer, management, and investment solutions for digital assets, focusing on tokenization products aimed at institutional investors.

Bullish Outlook

Buoyed by these developments, OM price appears to be heading in a bullish direction. In a recent post on X, crypto analyst Ali Martinez noted that MANTRA’s OM token appears to have broken out of a bullish flag pattern, which could potentially lead to a price move toward $10. To put this into perspective, just a week ago, on Feb. 14, OM price opened at less than $6.

> #Mantra $OM looks to have broken out of a bullish flag, potentially setting up a move toward $10! pic.twitter.com/ugPtuu0Te7
> — Ali (@ali_charts) February 21, 2025

Controversies and Criticism

Before these positive developments, MANTRA faced criticism over the team’s handling of OM airdrop distribution. Participants who staked tokens for voting rights were unable to vote on the distribution proposal, leading to claims that this decision was made deliberately to avoid opposition.

Further controversy arose when it was revealed that the team controls the majority of the tokens, making the vote effectively meaningless. The delay in airdrop distribution, with only 10% of tokens available initially and the full distribution not expected until 2027, has drawn frustration from participants.

Conclusion

With recent developments and increased trading volume, the outlook for MANTRA (OM) appears optimistic, despite past controversies.