As more people want to tokenize Real World Assets (RWAs), Mantra’s price keeps going up faster than most cryptocurrency.
On Thursday, the OM token hit a new high of $1.2711, even though Bitcoin and most other cryptocurrencies are still in a deep bear market.
There were gains on the blockchain network Mantra after news came out that Blackrock’s BUIDL fund had more than $500 million in assets just a few months after it opened. This result shows how much people want tokenized assets.
Ondo Finance, which controls US Dollar Yield (USDY) and US Treasuries (OUSG), has also added over $556 million to its assets. Centrifuge, a Polkadot tokenization platform, has also added over $293 million.
Mantra’s Real Estate Partnership
Mantra has also made an abundance of progress in its attempts to tokenize things. A top real estate company in the UAE recently teamed up with $ OM to tokenize some of its real estate deals.
In the next few years, the tokenization business is expected to grow exponentially. A report released this week says that the business is worth $3.8 billion this year and will be worth $34 billion by 2034.
At the same time, significant staking payouts have helped Mantra’s price. It has staking returns of 21.1%, which means that a $10,000 investment in the network would pay off with $2,110 in the first year, according to StakingRewards.
Mantra has the highest yield of the top 20 coins that StakingRewards lists. Cryptocurrencies like Injective (19%), Cosmos Hub (16.7%), and Polkadot (11.4%), which are also high yielders, are on the list. Mantra does not have any future token unlocks like most altcoins do; all of its coins have already been unlocked.
As more tokens are released into the market, token unlocks can have an effect on a cryptocurrency by making it more volatile and changing the staking returns.
