The price of Mantra has maintained an upward trend, climbing by 12% over the past week and securing the second position among Real World Asset tokens in market capitalization.
Currently, with a market cap of around $6.8 billion, Mantra (OM) is vying closely with Chainlink (LINK) and has established itself as one of the top-performing layer 1 tokens in 2025.
Analyzing the chart, it’s evident that OM has been on a robust uptrend since early 2024, rising from nearly zero to nearly $10. This recent surge followed a brief consolidation phase during which the price remained above essential support levels before making another breakout.
With indicators suggesting further upward movement, OM is presently trading at around $6.90. The Bollinger Bands are tightening, indicating an upcoming spike in volatility. The MACD remains in buy territory, while the RSI stands at 58.28, revealing a neutral-to-bullish momentum. An ADX reading of 36.31 supports the idea that the trend is gaining strength.
One key resistance level to watch is the previous local high of $8.17. A breakout above this level could catalyze a push towards $10, a notable psychological benchmark. On the downside, support levels can be found at $6.76 and $5.54, correlating with the lower Bollinger Band and the 20-day moving average.
Moreover, open interest in OM futures has surged from a monthly low of $319 million to $378 million, as reported by market data. This rise indicates that traders are increasing their positions, typically signaling growing confidence in the price direction.
Apart from price trends, the fundamentals of OM remain strong. The project has successfully tokenized over $500 million in assets, including real estate, and has obtained a Virtual Asset Service Provider license from Dubai’s regulator as of February. Strategic partnerships have also been beneficial, with agreements amounting to over $1 billion, including a significant collaboration with DAMAC Group in early 2025.
In the meantime, the community is preparing for a Mantra airdrop amid some technical challenges. After identifying over 123,000 fraudulent wallets during its GenDrop campaign, a 48-hour governance vote was opened on March 18 to determine the handling of 26.9 million OM that were flagged as suspicious.
To prevent intentional market manipulation, the team has confirmed that the GenDrop allocation will be released without prior notice and will consist of a 10% unlock, totaling 1,987,555.64 OM.