The mystery behind the price surge of MNT – Is the Mantle wave back?

Mantle (MNT) has made a strong impression on the community by reaching its highest price in the past 5 months. This upward trend occurs simultaneously with a spectacular 450% growth in volume.

So what drove the surprising breakout of this Layer-2 altcoin in August? Below are the key factors explaining the recent price surge.

What is behind the strong reversal of Mantle?

According to data from Artemis Analytics, the number of daily active addresses on the Mantle network has skyrocketed by 1,600% in just one month – from 7,000 to 120,000 addresses.

This sudden surge indicates that users are returning to the Mantle network with an increasing level of interaction, reflecting growing trust from the community and a rising level of usage.

The chart of daily active address numbers on the Mantle network | Source: ArtemisData shows that Mantle began to attract attention from mid-July and continued to maintain that momentum into early August. During this time, Mantle officially joined the Strategic ETH Reserve ( by allocating 101,867 ETH )equivalent to 392 million USD( to its treasury.

With this move, Mantle has now become one of the largest Web3 organizations holding ETH volume, ranking 8th in SΞR's leaderboard. Meanwhile, the price of ETH has risen from 3,000 USD to 4,000 USD since mid-July. Thanks to this strategic reserve fund, MNT maintains a close correlation with ETH, thereby driving the price of MNT up.

"Whales are taking advantage of buying in while prices are still low, and they have good reasons. Mantle has just joined the Strategic ETH Reserve Fund )SΞR( – a quiet move but with very significant impact," investor CyrilXBT commented.

The Influx of Institutions Strengthens Confidence in Mantle

Another important highlight in Mantle's strategy is the mETH protocol – a staking platform built on the Mantle network, which helps optimize ETH yields through staking and restaking mechanisms.

"Mantle holds one of the largest ETH-denominated treasuries on-chain, with over 320 million USD allocated in mETH, cmETH, and ETH," the mETH Protocol development team stated.

Several large companies, such as Republic Technologies, have converted a significant portion of their accumulated ETH into mETH in Q2 2025. This move has contributed to enhancing the reputation of Mantle Network in the eyes of investors.

In addition, the launch of the UR platform also enhances the practical application of the MNT token.

Specifically, UR is a smart cryptocurrency application that combines traditional finance )TradFi( and decentralized finance )DeFi(. This platform is built on the Mantle network with the aim of bringing blockchain technology to mainstream banking services.

"MNT has started to move again. This upward momentum is clearly accelerating and shows no signs of stopping. I believe that the rising price is due to the recent launch of the UR platform," trader Tardigrade shared.

The developments above indicate that Mantle is actively paving the way to attract more capital from large investment institutions.

Top 10 MNT wallets holding over 89% of total supply

Data from Bitcoin Magazine shows that the price of MNT has reached 0.88 USD, the highest since March this year, with a 24-hour trading volume hitting 500 million USD – double the average of last month.

![])https://img-cdn.gateio.im/webp-social/moments-652811309ed4feb4680a92bfcc6b108d.webp(MNT price performance chart from the beginning of the year to now | Source: Bitcoin MagazineHowever, data from CoinMarketCap reveals that the top 10 MNT wallets hold over 89% of the total supply. Specifically, the Mantle treasury accounts for over 49% of the supply, mainly used for project development activities, staking, and strategic investments.

Although MNT has increased by more than 30% since the beginning of August, it is still quite far from the all-time high of 1.5 USD reached in 2024.

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