Mantra Soars 22 Amidst Bitcoin Selling Pressure Multiverse Shines
In the dynamic world of cryptocurrency, **Mantra (OM)** has experienced a notable increase of over 8% within the last day, amidst the fluctuating crypto market landscape.
**The Ascending Trajectory of Mantra**
The technical indicators for Mantra paint a promising picture. The **Relative Strength Index (RSI)** is charting an upward trajectory while remaining in the neutral territory, hinting at potential growth without straying into the overbought domain.
Moreover, the **Moving Average Convergence Divergence (MACD)** echoes this positive outlook, with the signal line ascending above the MACD line, reinforcing the bullish sentiment.
The market’s enthusiasm for Mantra is evident, with a significant 7.9% boost in the 24-hour trading volume, which has seen over $50 million in OM tokens change hands. This surge is a testament to the growing investor confidence in Mantra’s future.
**Short-Term Forecasts for OM**
The technical analysis suggests a continued uptrend for OM, with 2024 price targets hovering around $$1.24$$, and more optimistic predictions reaching as high as $$1.45$$.
Mantra’s financial foundation appears solid, with a market capitalization of $703.4 million and a circulating supply of 831.3 OM tokens, laying a strong groundwork for sustained market presence.
At the moment of writing, **MANTRA (OM)** is valued at $$0.8575$$, marking a substantial 22% increase over the preceding two weeks, as per CoinGecko’s data.
**Additional Insights:**
– Despite a downturn, 87% of Bitcoin holders remain profitable, with BTC prices dipping below $64k.
– **MultiversX (EGLD)**, Elrond blockchain’s native token, stands at $33.5, reflecting a 3.5% rise in the last 24 hours.
– With a market cap of $921.68 million and daily trading volumes surpassing $45 million, the token’s moving averages suggest a continued bullish trend. However, an overbought RSI indicates the possibility of short-term price stabilization or correction.
**Recent Developments in the Crypto Sphere:**
The recent downturn in Bitcoin (BTC) and other major cryptocurrencies can be attributed to various factors. Notably, the German government has initiated the liquidation of over 50,000 BTC, previously seized from the illicit online platform Movie2k.
The disposal began on June 19, with 1,500 BTC being moved to exchanges like **Coinbase**, **Bitstamp**, and **Kraken**. Over the past month, sales exceeding 3,000 BTC, valued at around $172 million, have been executed. The German government retains 46,356 BTC, currently worth approximately $2.6 billion.
However, the latest **reports** suggest a pause in the German government’s Bitcoin offloading, with no recent wallet-to-exchange transfers detected.
As of now, Bitcoin’s (BTC) price is circling the $57,754 mark, indicating a 5.2% drop this week.
**Further Reading:**
– A dormant Bitcoin whale stirs with a $6.9 million transaction.
