Real World Asset (RWA) tokenization coin MANTRA ($OM) shot up 200% in the last seven days to post the largest intra-week gains among any top 50 cryptocurrency by market capitalization.
MANTRA’s heady ascent is bolstered by growing support for the coin after the network announced a partnership with Google Cloud on October 29, just six days after the launch of the MANTRA mainnet. According to the press release, Google Cloud is MANTRA’s primary validator and infrastructure provider.
Google Cloud is also building a MANTRA testnet faucet in its in-house Web3 portal, to facilitate the development of the MANTRA ecosystem.
Furthermore, the two entities will collaborate on a MANTRA incubator that will launch in Q1 next year.
Consequently, the announcement led to a surge in whale sized purchases of MANTRA’s $OM recently, which has helped catalyze the coin’s price explosion.
In general, last week was profitable for crypto. Market leader Bitcoin ($BTC) rose 11.7% and now trades at $91,769.99. That puts it 3.4% short of an all-time high (ATH) of $93,477.11, set on November 13.
MANTRA ($OM) Hits ATH
MANTRA’s recent rally took it to an all-time high of $4.45 in the early hours today UTC. This was largely driven by some whale sized purchases from November 14 onwards. However, the buying activity lifted MANTRA’s relative strength index (RSI) high above 70, which resulted in an overbought, and consequently, overpriced asset.
MANTRA’s RSI is now 65 and falling, which suggests investors are now doing a bit of profit-taking. This has led to a 9% pullback from $OM’s ATH. All in all, it’s likely that MANTRA will now level off and new support could form around its current price point, giving it a nice vantage point to capture the psychologically important $5 mark.
Source: TradingViewAfter MANTRA, Is Crypto All-Stars Next?
With MANTRA due for a cool down soon, crypto-savvy investors are flipping over to the presales market, which offers new and exciting opportunities to support new projects (and hold new cryptocurrencies) long before they hit the open market.
One exciting new protocol called Crypto All-Stars has raised over $4.25 million. It hopes to change the negative perceptions around meme coins by letting crypto fans put them to work.
Crypto All-Stars is a unified staking protocol that allows users to earn serious rewards by combining the world’s most celebrated meme coins.
Users can stake Pepe Coin, Dogecoin, Shiba Inu, Floki Inu, Based Brett, MogCoin, Milady, TurboToken, Toshi The Cat, Coq Inu, and BonkCoin in the MemeVault to earn passive income.
The current reward rate for staking these coins is an impressive 409% in the form of $STARS.
Following the purchase, investors can begin staking for rewards and claim the tokens once the presale ends.
Head to the website to buy $STARS with ETH, USDT, BNB, or even by card.
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