The post Mantra (OM) price hits ATH as staking reward rises to 21% appeared on BitcoinEthereumNews.com.

Mantra price has continued to outperform most cryptocurrencies as demand for Real World Asset (RWA) tokenization rose. The OM token rose to a record high of $1.2711 on Thursday as Bitcoin and altcoins remained in a deep bear market.  Mantra, a blockchain network for tokenization, rallied after a report noted that Blackrock’s BUIDL fund had crossed $500 million in assets a few months after launch. This performance shows that there is demand for these assets. Similarly, Ondo Finance, which runs the US Dollar Yield (USDY) and US Treasuries (OUSG), has added over $556 million in assets. Centrifuge, a Polkadot tokenization platform, has added over $293 million in assets. Mantra has also made a lot of progress in its tokenization goal. Just recently, Mantra partnered with MAG, a leading UAE real estate company. The partnership will help MAG to tokenize some of its real estate projects. This is an industry that is expected to grow rapidly in the next few years. A report published this week showed that the industry was worth $3.8 billion this year and will reach $34 billion in 2034. Meanwhile, Mantra price has done well because of the substantial staking rewards. Data by StakingRewards show that it has staking rewards of 21.1%, meaning that, all factors constant, $10,000 invested in the network would yield $2,110 in the first year. Mantra has the biggest yield among the top 20 coins listed by StakingRewards. The other top-yielders are cryptocurrencies like Injective (19%), Cosmos Hub (16.7%), and Polkadot (11.4%).Unlike other most altcoins, Mantra does not have any token unlocks coming up since all its coins have been unlocked. Token unlocks affect a cryptocurrency by increasing volatility before and after it happens. It also affects the staking yield as more tokens are deposited. Source: https://crypto.news/mantra-om-price-hits-ath-as-staking-reward-rises-to-21/

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Filed under: News - @ July 13, 2024 9:20 pm