The post Mantra [OM] – Address creation, adoption, and what next for its price appeared on BitcoinEthereumNews.com.

OM’s price spiked by 57.85% over the past month Mantra’s new address creation rate dropped by 99.7% over the past 3 months Mantra’s address creation rate falls Source: X While Mantra has seen sustained growth on its price charts lately, its adoption rate has been declining. According to Ali Martinez, Mantra’s network has significantly contracted, with new address creation falling by 99.7%. As such, new addresses created dipped from 110,517 in November to 252. This decline in new address creation is a sign that fewer new users are joining the network – A sign of dwindling interest, demand, and on-chain activity. Source: IntoTheBlock We can see this waning interest as the adoption rate dropped from 53% to 23% over the past week. Such a huge drop could result in a shrinking user base, further resulting in lower demand for transactions and thus reducing the overall network activity. This also shows that there are no users entering the market while also, the existing ones are closing theirs. Source: Santiment Additionally, Mantra’s Price DAA divergence has remained negative throughout the past three weeks, further confirming the fall in network activity. Historically, when a network lacks users, it has preceded a price decline for its native tokens as it reflects market bearishness. In this case, we can see the lack of demand slowly negatively affecting OM’s price movement. Impact on OM’s charts? Although Mantra’s adoption rate has declined over the past few months, OM’s price has held on strong. In fact, at the time of writing, the altcoin was trading at $7.53. This marked a 5.73% hike over the last 24 hours. Equally, this bullish outlook seemed to have extended itself on the monthly charts by 57.85%. Source: Coinalyze Despite the price pump, the overall market sentiments remain bearish though. For example, we…

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Filed under: News - @ March 1, 2025 7:28 pm