The native token of Manta Network’s layer-2 (L2) platform, MANTA, has emerged as the top trending cryptocurrency on CoinMarketCap, surging by an impressive 32.59% in the last 24 hours.
The token’s value increased from $2.24 to $2.97, currently trading at $2.86, with a daily trading volume surging by 73.50% to $496,676,171. The market capitalization also rose by 30.21% to $725,362,321.
Binance listed MANTA on its platform, promoting it through its MANTA launchpad where users could stake BNB and FDUSD tokens to farm MANTA tokens.
This move led to a substantial increase in funds deposited on the Manta Network, with the total value locked surging to $423 million, making Manta Network the tenth-largest L2 platform by TVL.
Despite the positive momentum, Manta Network faced challenges with a denial-of-service (DDoS) attack impacting communication between applications and the blockchain.
Also Read: Manta Network Hit by 135M Requests in Disruptive DDoS Attack
However, MANTA’s utility in paying transaction fees, staking for security, and generating revenue and gas savings for on-chain activities continues to drive demand and value accrual for holders, showcasing its resilience in the evolving crypto landscape.
