MANTRA (OM) Surges 11% After Major RWA Partnership

MANTRA, a real-world asset (RWA) layer-1 blockchain, is an outlier in the crypto market today, outperforming all major cryptocurrencies with a notable 11% gain.

MANTRA (MANTRA), a layer-1 blockchain dedicated to real-world assets (RWA), has emerged as an outlier in the crypto market with a remarkable 11% gain, outperforming all major cryptocurrencies.

The gains follow a major platform milestone, pushing the native OM token to $0.89 on Thursday. These gains come after the altcoin suffered losses, dropping to $0.68 on Wednesday.

MANTRA surges on major RWA partnership

Having launched its native token in October 2020, MANTRA has seen a significant shift in sentiment as the RWA narrative strengthens.

This tokenization drive took a bullish turn on July 3 when MANTRA announced a partnership with MAG Group Holding, a real estate giant in the United Arab Emirates.

In announcing the groundbreaking deal, MANTRA stated that it will help tokenize $500 million in real estate assets for the Dubai-based conglomerate. Investors will receive yields in stablecoins and the native token OM.

“By merging MANTRA’s secure RWA-focused blockchain with MAG’s strong presence in the UAE’s real estate market, we aim to fully enable RWA compliance throughout the Middle Eastern region and beyond,” MANTRA wrote in a blog post.

The news caused the OM token to rise and it has continued to outpace the top 100 cryptocurrencies by market capitalization. According to CoinMarketCap, MANTRA is currently the biggest gainer, followed by Pendle (PENDLE) and Safe (SAFE), both of which have seen gains of less than 2% over the past 24 hours.

If the bulls maintain control and prices remain close to the current level of $0.80, OM is likely to reach a new all-time high. Notably, MANTRA’s price reached its ATH of $1.09 on June 10, 2024 amid another partnership in the UAE.

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