Mantra (OM) has extended its rally, climbing 12% in the past week and securing its position as the second-largest real-world asset (RWA) token by market capitalization.
Now valued at approximately $6.8 billion, Mantra is closing in on Chainlink (LINK) in the sector.
The strong price action reflects increasing market interest in tokenized assets, with Mantra emerging as one of the best-performing layer 1 tokens in 2025.
With technical indicators supporting further gains and fundamental growth underpinning its value, Mantra’s outlook remains bullish as it eyes the psychological $10 threshold.
Mantra price tests key resistance
Since early 2024, Mantra has witnessed a remarkable ascent from near zero to nearly $10, making it one of the standout performers in the crypto market.
After a brief consolidation period, OM recently broke above key support levels, resuming its upward trajectory.
Currently trading at around $6.77, its technical setup suggests further potential upside.
Bollinger Bands are tightening, indicating an imminent spike in volatility, while the MACD remains in bullish territory.
The RSI reading of 58.28 suggests neutral-to-bullish momentum and an ADX score of 36.31 confirms a strengthening trend.
A key resistance level lies at $8.17, and a decisive breakout above this level could pave the way for a move towards $10.
On the downside, support levels are at $6.76 and $5.54, aligning with the lower Bollinger Band and the 20-day moving average.
Open interest in Mantra futures rises
Investor confidence in Mantra’s price trajectory is growing, as evidenced by a surge in open interest for OM futures.
According to Coinglass data, open interest has risen from a monthly low of $319 million to $379.54 million.
This uptick indicates that traders are increasing their exposure, often a signal of growing optimism regarding future price action.
Mantra’s rapid adoption and growing use cases in tokenization have further solidified its market position.
The platform has successfully tokenized over $500 million in assets, including real estate, contributing to its expanding ecosystem.
Its regulatory approval in Dubai in February—securing a Virtual Asset Service Provider (VASP) license—has reinforced investor confidence.
Governance vote follows fraud discovery
Despite its strong market momentum, Mantra has faced challenges with its ongoing GenDrop airdrop campaign.
On March 18, the project uncovered 123,000 fraudulent wallets attempting to exploit the airdrop.
In response, Mantra initiated a 48-hour governance vote to determine the fate of 26.9 million OM tokens flagged as suspicious.
To prevent market manipulation, the team confirmed that the GenDrop allocation would be released without prior notice. The first batch will consist of a 10% unlock, equating to 1,987,555.64 OM.
The outcome of the governance vote will be closely watched by the community, as it could set a precedent for handling future token distribution challenges.
Mantra’s growth trajectory remains strong, fueled by strategic partnerships exceeding $1 billion, including a significant deal with DAMAC Group in early 2025.
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