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Manta Network’s Remarkable Debut: Achieving a $577 Million Market Cap Amidst Price Fluctuations




Manta Network, a notable player in the cryptocurrency space, has been drawing attention with its recent market performance. Known for its focus on Zero Knowledge Proofs and being part of the Ethereum Ecosystem, Manta Network has shown significant movements in its price and market metrics.

Recent Price Movements

As of January 19, 2024, Manta Network (MANTA) is trading at $2.30, witnessing a slight decrease of 3.96% in the last 24 hours. However, it’s important to note the recent highs and lows that the token experienced. MANTA reached an all-time high of $2.75 on January 18, 2024, and subsequently dropped to a low of $2.05 on the same day, indicating a volatile yet upward trend in its short market presence.

The market capitalization of Manta Network stands at approximately $577.37 million, with a fully diluted market cap of about $2.30 billion. This reflects the potential long-term market value of MANTA, considering its maximum supply of 1 billion tokens. The 24-hour trading volume has seen a significant increase of 36.83%, amounting to roughly $799.80 million, highlighting the growing interest and liquidity in the MANTA market.

Supply Dynamics

Manta Network has a circulating supply of 251 million MANTA tokens out of a total supply of 1 billion. This supply structure is crucial for understanding the scarcity and potential inflationary or deflationary trends of the token.

Technical Analysis: Support and Resistance

While detailed chart analysis is not provided here, investors and traders should closely monitor key support and resistance levels formed by the recent all-time high and low. The all-time high of $2.75 could act as a resistance level, whereas the recent low of $2.05 might serve as a support level in future trading sessions.

Manta Network’s recent entry into the market on January 18, 2024, has already shown a dynamic price performance. With its involvement in various crypto categories like Layer 2, Web3, and the Binance Launchpool, MANTA presents an interesting case for investors and market analysts. As always, market participants should conduct thorough research and consider market volatility before making investment decisions.

Rayne Harris is an analyst and editor recently joined RippleCoinNews with over 5 years of crypto market experience. He has worked in several famous media outlets, specializing in technical analysis of running crypto trends and curates opinion stories based on analysis.

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