Bitcoin price today dropped to $42,050 before climbing back to $43,000, and the fluctuation continues. We are not having a great day in the crypto markets, and this has been going on for 4 days. Although ETF volumes are not that bad, billion-dollar sales are shaking the markets. So what are investors doing? They are getting ready for the Manta Coin listing.
Manta Coin Review
Binance announced yesterday the new project that could become the new favorite for those seeking speculative movements in calm markets. Manta Network has surpassed Base network, the fourth-largest Ethereum layer2 solution.
The network, offering an annual return of 4-5% for Ethereum and USDC assets, will now also airdrop to early adopters. Additionally, participants in the Binance exchange’s staking pool will receive rewards.
After launching its mainnet on September 10, 2023, Manta operates with zero-knowledge (proof). On December 22, 2023, it reached the highest number of transactions per second with 5.88 and surpassed 4.52 million transactions in the last 30 days. There is significant hype here, and we might see interesting price movements with the Binance listing.
Manta and Base
According to L2Beat data, the total value locked (TVL) in the Manta network has surpassed the $754 million of Coinbase’s Base network. This means it has overtaken one of the most popular layer2 solutions. Below you can clearly see the growth rate of the TVL in the Manta network.
Users who locked ETH and USDC early in the blockchain will receive a total of 50 million Manta Coins. The Binance exchange will launch a total of 4 pairs, including TRY, on January 18. Considering Manta is a ZK network using Ethereum as the base layer and the recent popularity of zero-knowledge proofs, it has significant potential. Many projects will be worth watching in 2024, including Polygon’s zkEVM, Linea developed by Ethereum infrastructure provider ConsenSys, and Mantle Finance.
On the other hand, interest in the restaking area is also increasing. We might see this token’s name quite a bit on the Binance exchange on January 18 and the following days.
