The post Mantle’s MNT defies altcoin slump, expects new highs in October appeared on BitcoinEthereumNews.com.

Mantle’s MNT token is one of the assets to defy the recent altcoin downturn, as it traded near all-time highs. MNT expects further breakouts following special trading incentives.  Manta (MNT) is defying the downturn of the altcoin market. The token, linked to the Manta L2 chain, traded around $1.82, after a recent peak close to $1.90.  MNT charted multiple all-time highs in the past three months, as the Mantle project accelerated its marketing and incentives. | Source: CoinGecko. The rally of MNT followed last day’s growth for a smaller selection of altcoins, as reported by Cryptopolitan. MNT showed the market had sufficient enthusiasm for recovery, producing all-time peaks for previously less active tokens.  MNT also helped the altcoin season index, which recovered to 76 points, once again indicating altcoins were hot and could invite heightened demand. MNT tokens traded with open interest near an all-time high of $256.22M.  On Hyperliquid, just eight whales are competing for the direction of MNT, equally split for long and short positions. The recent rally caused unrealized gains for short positions, as the biggest whale shorted MNT in a position valued at $2.15M.  MNT receives fee discounts on Bybit The recent price rally coincided with Bybit’s new trading incentive program. MNT is the first token beyond stablecoins that is offering fee offsets on Bybit.  MNT tokens will also unlock Bybit VIP perks, as tokens have a bigger weight in calculating VIP assets. Demand for MNT may be rising as the token allows Bybit traders to gain VIP status with a lower capital commitment.  The recent price rally comes from the incentives of holding MNT, or using the token to pay lower trading fees. Bybit currently carries over 56% of the total MNT volumes, becoming the key factor behind the rally with concentrated liquidity.  Mantle network…

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Filed under: News - @ September 24, 2025 8:27 am