Manta Making Buzz After the Remarkable Manta Network Launch

MANTA network creates buzz in the market through its various developments and accomplishments. It recently gained a remarkable TVL and became the 3rd Largest layer 2 network. Additionally, the network also collaborates with another network for further developments.

All About Manta Network Token Launch

Manta Network is a platform maintaining privacy for the various decentralized applications that recently launched its own token MANTA. The MANTA token has a yearly inflation rate of 2% and a total maximum supply of 1 Billion. Moreover, the token has developed to do certain activities like paying transaction fees, staking, and supplying liquidity.

Token will help in building a complete and sustainable ecosystem within Manta Network. Moreover, as the platform grows, the launch of MANTA aims to increase user involvement and interaction across a range of decentralized applications and services.

MANTA is the governance token of the Manta Network, which has two distinct networks. The main network is Manta Pacific, a Layer 2 solution on Ethereum that uses Celestia for data availability. The other network is Manta Atlantic, a Layer 1 chain on Polkadot.

Manta Pacific is the third biggest Layer 2 network, with more than $1.7 Billion locked in value. However, more than half of that value comes from MANTA tokens. Since the airdrop on January 18, the value of assets bridged from other networks has fallen by $55 Million, as per L2beat.

This suggests that some traders may be leaving the network to chase the next airdrop. Moreover, the blockchain is only handling 1.5 TPS, which is much lower than other L2s like Arbitrum and Optimism.

Manta recently integrated with Moonbeam to connect with the Polkadot ecosystem. It also intends to move Manta Pacific to a Polygon-based zkEVM solution soon.

Manta Network Current Stats and Price Overview

CoinGecko data shows MANTA Network is currently trading at the level of $3.10 with an intraday drop of 3.6% showcasing bearishness at press time. The trading volume of the MANTA is $355,554,116 in the last 24 hours and increased by approx 17.10% compared to the previous day.

The all-time high of the coin is $3.83 touched on January 28 and from the all-time high price, the current price is down by almost 20.6%. Moreover, the all-time low of the coin is $2.02 touched on January 28, and from the all-time low price, the current price is up by almost 50.9%. 

Disclaimer

This article is for informational purposes only and does not provide any financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your own research before making any financial decisions

Steefan George is a crypto and blockchain enthusiast, with a remarkable grasp on market and technology. Having a graduate degree in computer science and an MBA in BFSI, he is an excellent technology writer at The Coin Republic. He is passionate about getting a billion of the human population onto Web3. His principle is to write like “explaining to a 6-year old”, so that a layman can learn the potential of, and get benefitted from this revolutionary technology.