Mantle (MNT) has surged by more than 20% in the last 24 hours as traders reacted to a combination of strong liquidity inflows, growing user activity, and the near conclusion of the UR neobank beta testing phase.

The token climbed to a three-month high of $0.88, fueled by rising demand.

With speculation and on-chain data pointing to a potential breakout past $1, the Mantle ecosystem appears to be entering a phase of renewed momentum. But it’s not just hype; several structural fundamentals are also at play.

Much of Mantle’s latest rally can be traced to excitement around UR, a new on-chain neobank backed by a Swiss financial infrastructure.

UR is designed to offer users multi-currency accounts, alongside a Mastercard debit card, enabling borderless financial operations powered by blockchain.

The beta testing window for UR is scheduled to close on August 8, prompting renewed attention as users and investors anticipate the full launch later in Q3. This has reignited sentiment around Mantle, positioning it as a serious player in the evolving Web3 banking narrative.

According to Joshua Cheong, Mantle’s Head of Product, UR was built with modular Ethereum-grade security, which enhances scalability while maintaining trust.

As attention sharpens on UR’s official launch, speculation around increased demand for Mantle (MNT) tokens continues to rise.

While market sentiment plays a key role in short-term price moves, Mantle’s current surge is also supported by strong fundamentals.

Over the past 24 hours, Mantle’s trading volume spiked to over $484 million, its highest in three months.

At the same time, Mantle recorded net inflows of $26.96 million, significantly outpacing Ethereum and Polygon during the same period.

This increase in inflows coincides with a broader pickup in DeFi activity across the platform.

The Total Value Locked (TVL) on Mantle hit $378.86m, while its stablecoin supply soared to an all-time high of $653 million.

The platform’s daily active users also saw a notable jump, hitting 130,000, up from less than 10,000 in previous months.

These signs of rising usage and liquidity are helping Mantle differentiate itself from other Layer 2 chains, many of which have struggled to retain traction post-2021.

Beyond platform activity, Mantle’s significant Ethereum holdings have added another layer of strength to its bullish case.

With over 101,900 ETH in its treasury, Mantle is now one of the top 10 ETH-holding entities in the ecosystem. This reserve was accumulated during its previous cycle as BitDAO and has remained largely untouched.

The presence of such a robust ETH reserve gives Mantle strategic flexibility and positions it to explore opportunities such as liquid staking, wrapped ETH innovations, and treasury-backed DeFi programs.

Unlike other dormant projects from earlier cycles, Mantle has combined its financial strength with ongoing product development, especially with UR and its broader DeFi ecosystem.

This balance between liquidity, utility, and financial backing has helped Mantle regain investor trust, while also inviting speculative bets on continued upside.

On the technical front, MNT’s recent move was confined between key liquidity zones, with dense buyer interest observed between $0.75 and $0.85.

As prices push higher, another liquidity cluster has formed near the $0.95 level, suggesting that a breakout past this area could trigger a wave of short liquidations.

According to CoinGlass, short positions currently make up 33% of MNT’s open interest, creating conditions ripe for a potential short squeeze.

If bullish momentum holds, Mantle could retest the $1 psychological resistance, a level it last visited earlier in 2025. However, it will have to stay above $0.8491 and clear the first major resistance level at $0.9029 according to market analysis.

Withdrawal data from exchanges further supports the bullish narrative. Bybit alone has seen over $9.85 million in Mantle (MNT) outflows, suggesting that traders are pulling tokens off exchanges, often a sign of long-term conviction.

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