The last 24 hours has been kind of a bloodbath, once again, unfortunately. I woke up thinking that Monday morning would bring joy and strength to the market, but it didn't. The outflows from the Bitcoin ETFs surpassed the income with more than $154 million, and Greyscale alone sold Bitcoin ETFs worth more than $640 million (while they bought at a value of $451 million). Since many people are stuck in fear after the weekend, those week hands quickly start to sell when the ground is shaking beneath them, and that is what we have seen in the overall market the last 24 hours, and the price of both $STEEM and $HIVE have dropped more than 10% in the same period.
In the top 300 on CoinMarketCap there is one token outperforming all others with a growth of more than 20% in the same period and that is MANTRA. It is actually the only token in plus the last 24 hours. What is it?
What is Mantra? What's on?
Mantra is currently the #124 largest token in the world based on the marketcap. It has been around since 2020 and it claims to be "the first RWA Layer 1 Blockchain, capable of adherence and enforcement of real world regulatory requirements."
Mantra is listed on Binance, Kucoin, OKX, and some other centralized exchanges, and it can also be traded on Uniswap and other DEX-es.
Mantra is working hard to strengthen their presence in Asia, especially in hubs such as Hong Kong and Dubai. The goal is to become the number one layer-1 chain in the Cosmos ecosystem, and it aims to tokenize real world assets (RWA).
Tokenizing real-world assets refers to the process of converting physical or tangible assets into digital tokens on a blockchain or distributed ledger system. This allows these assets to be divided into smaller, more liquid units that can be bought, sold, and traded more easily than the original asset itself.
Doesn't that sound cool, somehow?
It will be interesting to follow MANTRA in the future. Come back tomorrow to find information about a new token-champion of the day, and let us hope to see a market way greener than what we woke up to on this very day!