At the time of this writing, if only the 100 cryptocurrencies with the highest market capitalization are considered, Mantra (OM) is the second with the highest weekly increaseafter the Peanut the Squirrel (PNUT) memecoin.
In the last 7 days, OM price has risen nearly 200%as can be seen in the following graph:
Mantra (OM) price in the last week. Source: CoinMarketCap.
The rise of Mantra is multi-causal. First of all, one cannot fail to mention the “drag effect” that is producingBitcoin/” target=”_blank” rel=”noreferrer noopener”> bitcoin (BTC). The main digital currency on the market has had a significant rise in price since Donald Trump’s victory in the United States presidential elections. As a consequence, the entire Altcoin market is benefiting as well.
On the other hand, cuts in interest rates in the United States, the European Union and major global financial powers make borrowing money cheaper. For this reason, there is an injection of liquidity which expands to the financial markets and leads to the rise of many cryptocurrencies.
Also, issues more typical of OM favor the rise of the asset. Please note that it is a Cryptocurrency of the real-world assets (RWA) niche, which is a growing trending narrative.
The fact that financial giants like BlackRock are Ethereum/” target=”_blank” rel=”noreferrer noopener”>tokenizing investment funds favors all cryptocurrencies in the RWA niche.
In this context, the Mantra organization is seeking to position itself visibly at large conferences in the cryptocurrency industry, as its goal is to be recognized as leaders in everything related to RWA.
🕉️ Key highlights from MANTRA’s attendance at Binance Blockchain Week 2024 Dubai, October 30-31.
MANTRA was a Platinum Sponsor at the conference, where our CEO & Co-Founder @jp_mullin888 participated in various panels alongside industry leaders and discussed the future of #RWA… pic.twitter.com/zIiaRmppyh
— MANTRA | Mainnet Live (@MANTRA_Chain) November 15, 2024
The question that many investors ask is up to what price Mantra could reach, if it continued its rise. Currently, OM is trading at $4.18.
According to the ranking of the CoinMarketCap portal, at the time of this publication, OM is ranked number 32 by market capitalization.
If OM were to reach the number 20 spot (currently occupied by Unus Sed Leo (LEO), its price would be $7.96.
And, if it were to reach #10 (which currently seems very difficult), each OM would trade for $19.20. Of course, for that, Mantra (a cryptocurrency that still sounds unknown to many) would have to surpass renowned giants such as Shiba Inu (SHIB), Avalanche (AVAX), Toncoin (TON), Chainlink (LINK) or Pepe (PEPE). .
Therefore, one might think (keeping in mind that this is not an investment recommendation or financial advice) that a price target between $8 and $15 would be realistic for OM in the coming weeks or months (assuming the cryptocurrency bull cycle move on).
Trader and analyst Tom Crown, for example, suggests that this cryptocurrency could reach $10 in the near future, as seen in the image below:
Price projection for Mantra (OM). Source: Tom Crown – X.
Other cryptocurrencies whose rises have stood out in the last week (in addition to the already mentioned OM and PNUT) are XRP (XRP)Stellar (XLM), Hedera (HBAR) and Bonk (BONK).
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