Manta: a new Binance token with great hopes for development

Web3 is currently the most desired direction of development on the cryptocurrency market. It is therefore not surprising that high hopes are attached to the Manta project - both from IT developers and investors. Especially since it is part of solving real problems blockchain technology. Does the price of this project's token have a chance of a spectacular increase? We are checking.

We continue the cycle of the Forex Club portal, in which we analyze and describe the largest, highest-valued, most interesting, most developmental, advanced and also the most controversial cryptocurrency projects around the world. Today it's time for Manta – an application gateway that connects various Web3 projects together.

What is Project Manta?

Manta is a protocol that connects the main components of infrastructure modules that allow you to integrate web3 projects. Users can do this on the Manta platform by hosting any solidity-based decentralized applications and use its technology to ensure faster transaction speeds and lower transaction costs. The cost of all transactions is reduced because they are handled by Celestia.

Projects in Manta Pacific can be implemented using smart contracts, powered by Solidity. They have many applications, including: DeFi, game fi, identity confirmation and the like.

The best part, however, is that any Solidity developer can create applications in the system by adding literally a few lines of code to existing projects. Thanks to this, it can benefit from the profitability of ETH and USDC-based tokens using the Manta Pacific protocol.

Great investor confidence

Both the project team and the business assumptions and clear milestones for the implementation of individual technology stages were welcomed by investors. Before the project started, USD 60,4 million was raised from the market.

The token sale concerned both private and public offerings. In the case of private token sales, as much as 24,11% of the total supply of Manta tokens found buyers at prices ranging from USD 0,025 to USD 0,5. In the public sale, 8% of Manta tokens were sold at a price of $0,36 each.

How does the Manta token work?

Manta cryptocurrency is the native utility token of the Manta network. It serves, among others, for managing the Manta Pacific and Manta Atlantic networks. All holders of this cryptocurrency can take part in voting. They can also delegate their votes to other people or entities.

Of course, Manta can also be staked, which on the one hand ensures the safety of Manta Atlantic, and on the other hand, gives token holders the opportunity to earn interest on blocked coins. Online transaction fees are also paid in Manta tokens.

During the airdrop, 3% of the total Manta token supply was distributed to Binance exchange users who staked Binance Coin (BNB) or stablecoiny. 30 coins were distributed to users of the largest cryptocurrency exchange in the world, because the Manta project debuted on this exchange.

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Manta cryptocurrency quotes

Currently, the Manta cryptocurrency can be purchased on 22 cryptocurrency exchanges, including the largest in the world - Binance. As of January 26, 2024, 251 of the target 000 units are in circulation. Each of them costs USD 000, which translates into a capitalization of over USD 1 million. The peak in prices took place on January 000, 000, when Manta was priced at USD 000. However, since the debut, the quotations trend has been clearly upwards, which is not the case with every new token.

MANTA/USDT chart, D1 interval. Source: Binance platform