Mantle Network’s native token, MNT, gained over 25% within the past 24 hours, reaching its highest level in five months. The asset’s total market valuation now sits at $2.9 billion after briefly surpassing $3 billion.
$MNT has recorded the highest growth in the last 24 hours.
• Total Market Cap: 3B+ (+23%)
• Total Volume: $546M+ (+215%)Powered by Mantle Network, the Blockchain for Banking.
Source: @CoinMarketCap pic.twitter.com/UX1Alll9iL
— Mantle (@Mantle_Official) August 5, 2025
Mantle Network is an Ethereum-compatible layer-2 (L2) scaling solution built with a modular architecture that separates execution, data availability, and finality into distinct layers. The network supports the Ethereum Virtual Machine (EVM), enabling deployment of existing smart contracts. On the other hand, MNT is used for staking, gas fees, and protocol decisions.
Why is MNT Pumping?
The surge coincides with the spike in the network usage as daily active addresses increased by over 1300% within one month, growing to 123,000. The move hints at an increase in user engagement, which further strengthens trust in the Mantle ecosystem. At press time, MNT’s daily trading volume jumped 257%, showing renewed interest.
According to data from analytics platform Strategic ETH Reserve (SΞR), Mantle now holds over $368 million worth of Ether. The move boosts it to rank 8th among about 65 entities holding over 100 ETH in their treasury. The protocol’s participation in Ether Treasuries strengthens its investors’ trust and shows it still maintains a focus on Ethereum.
Data from the on-chain analytics platform, DefiLlama, reveals that money is flowing into Mantle. Over the past seven days, the network’s stablecoin market supply has increased by approximately 22.85% to $653.51 million, with USDT dominating by over 65%. Notably, the metric suggests increased on-chain liquidity and investors’ readiness to transact via Mantle.
Meanwhile, at last week’s GM VIETNAM event, Mantle Network’s Head of Product, Joshua Cheong, emphasized that Mantle works with top-tier experts to stay ahead of security threats. He claims security is the very foundation of the protocol, strengthening user trust and confidence in the network.
Top Ethereum Layer‑2 Chains by TVL
Base, developed by Coinbase, now dominates the Ethereum Layer‑2 sector, with roughly $4.14 billion in Total Value Locked (TVL), representing about 35.6% of the sector’s locked value. The network’s growth is driven by its integration with Coinbase exchange and wallet ecosystem, which delivers seamless user onboarding.
Arbitrum One ranks second with approximately $2.90 billion TVL, around 25% dominance, anchored by its DeFi roots. The network houses major protocols like Uniswap and Aave. Its growth, coupled with developer confidence, continues to fuel its dominance despite rising competition.
Polygon POS holds approximately $1.16 billion in TVL, representing around 10% of the market share. With its ecosystem spanning DeFi, NFTs, and gaming dApps, Polygon remains one of the most user-engaged chains. Though it uses a sidechain mode, its usability has kept it competitive among the top L2 ecosystems.
