Crypto investor turns $106k to $8m as Mantra Price Surges
Mantra price has done well since 2024, propelling it from a small cryptocurrency into one of the biggest players in the industry with a market cap of almost $4 billion.
Mantra (OM) has remained in a tight range as it avoided the ongoing sell-off in the cryptocurrency industry. It was trading at $4, just a few points below its all-time high and 27,000% above its lowest level in 2024.
The surge in OM’s price has created substantial wealth for early investors. According to Nansen, the most profitable investor has made over $8.25 million in profit. This investor currently holds an unrealized profit of $7.3 million and has already sold $940,000 worth of tokens. As shown below, this individual began 2024 with just $106,000 worth of OM tokens, which have since ballooned to over $8.2 million.
Mantra’s impressive price growth can be attributed to its strategic positioning in the Real World Asset tokenization sector. RWA enables users to tokenize physical assets such as real estate, making them tradeable on blockchain networks.
On Thursday, Mantra announced a new partnership with DAMAC, a major real estate company that has previously collaborated with Donald Trump. As part of this agreement, DAMAC’s real estate assets will be tokenized and made available to Mantra’s network. The company expects to tokenize assets worth approximately $1 billion through this partnership.
Mantra has made similar announcements before. It inked a deal with MAG Partners, a large real estate firm to tokenize real estate assets worth $500 million. The company also partnered with Libre Capital to facilitate tokenized money market funds.
To further bolster its ecosystem, Mantra launched Mantra Chain, a layer-1 network focused on building tokenized assets. Users can stake their tokens on the Mantra mainnet and earn KARMA tokens by completing various missions.
Technicals suggest that Mantra price has more upside
The daily chart indicates that OM has performed strongly in recent months, consolidating over the past two months to form a bullish pennant pattern. This pattern, which consists of a vertical rally followed by a symmetrical triangle, typically signals the potential for further gains.
Mantra’s price remains steady above its 50-day moving average, suggesting that bullish momentum is intact. The most likely scenario is a rebound to retest its all-time high of $4.62. A successful break above this level could open the door for further gains, potentially pushing the token to $5.
