Mantle (MNT) big pump 40% to a new 5-month high! on-chain activity surged 1600%, institutional Holdings becoming the new focus in the Layer2 track.

The Layer2 project Mantle's native token MNT has recently surged strongly, with the price breaking through $0.88, setting a new high since March, and rising over 30% since August. Even more astonishing is the 24-hour trading volume, which skyrocketed by 450% to $500 million, while the number of daily active addresses on-chain soared by 1600% within a month (from 7,000 to 120,000). Key driving factors include: Mantle's treasury investing $392 million to purchase 101,867 ETH to join the strategic Ethereum reserve (SΞR), ranking 8th in Web3 entities' ETH holdings; the mETH protocol attracting institutional funds such as Republic Technologies with its re-staking mechanism; and the UR application bridging traditional finance and DeFi. However, data from CoinMarketCap shows that the top 10 wallets control over 89%, with the project party's treasury holding 49%, indicating a high concentration that conceals fluctuation risks. This article will deeply analyze the reasons behind MNT's big pump and potential challenges.

On-chain activity surges, SΞR holdings ignite institutional interest According to on-chain data from Artemis Analytics, the daily active addresses on the Mantle network have achieved an explosive growth of 1600% within just one month (from 7,000 to 120,000), marking a strong return of user engagement and the rebuilding of community trust. This growth momentum began in mid-July and continued into August. A key turning point occurred during the same period: Mantle officially joined the Strategic ETH Reserve (SΞR), with its treasury spending $392 million to purchase 101,867 ETH. This move made Mantle one of the largest ETH holding entities in the Web3 space, ranking 8th on the SΞR list. As the price of ETH rose from $3,000 to $4,000 since mid-July, MNT formed a price linkage with this substantial ETH reserve, significantly boosting its price. Notable investor CyrilXBT commented: "The giant whales accumulating Mantle is no coincidence; joining SΞR is a low-key yet far-reaching strategic layout."

mETH protocol + UR application: Building institutional capital entry and ecological utility The core component of the Mantle ecosystem, the mETH protocol, is a staking platform built on its network that maximizes ETH returns through the staking and restaking mechanisms. The protocol disclosed: "Mantle holds one of the largest on-chain ETH-valued treasuries: the total value across mETH, cmETH, and ETH exceeds $320 million." This infrastructure has attracted listed companies like Republic Technologies, which will convert a large accumulation of ETH into mETH in the second quarter of 2025, significantly enhancing Mantle's credibility among institutional investors. At the same time, the launch of the UR application has added new utility to MNT. UR, as a smart crypto application based on the Mantle Network, is committed to integrating blockchain technology into mainstream banking services, achieving the fusion of traditional finance (TradFi) and decentralized finance (DeFi). Trader Tardigrade pointed out: "MNT has restarted its rise with strong momentum, and I believe this is closely related to its newly launched UR application." These developments highlight Mantle's clear strategy to open up channels for institutional capital inflow.

Record-breaking surge in volume and price, high concentration of holdings hides risks BeInCrypto data shows that the MNT price has reached 0.88 USD (5-month high), with a 24-hour volume surpassing 500 million USD, more than doubling compared to last month's average level, presenting a typical pattern of simultaneous rise in volume and price. However, data from CoinMarketCap reveals a potential risk point: the top 10 MNT wallets control over 89% of the total supply. Among them, the Mantle project treasury alone holds more than 49% of the total supply (these tokens are used to fund development, staking, and strategic investments). This extremely high token concentration means that price fluctuations could be amplified, and the actions of a few entities have a significant impact on the market. Despite a notable rise recently, the current price of MNT is still far below its historic high of $1.50 set in 2024.

Conclusion: Institutional Endorsements and Ecosystem Expansion Drive Growth, Beware of Market Control Risks Mantle (MNT) has successfully achieved price breakthroughs and explosive growth in on-chain activity, thanks to its strategic holdings from joining SΞR, institutional funds attracted by the mETH protocol, and the new utility brought by the UR application, becoming one of the most outstanding projects in the Layer2 track recently. Its institutional path and ecological expansion provide fundamental support for sustainable development. However, investors must be aware of the potential risks brought by high holdings concentration (the top 10 wallets control the market trend at 89%):

1. The project party's treasury accounts for too large a proportion (49%), and its token release or operation may significantly impact the market.
2. Although liquidity surged in the short term, control the market trend may lead to increased price fluctuation. Whether MNT can continue its rise and challenge previous highs in the future will depend on the strength of institutional capital inflows, the adoption rate of applications like UR, and the transparency of the project party's treasury token management. Traders need to closely monitor the movements of large on-chain addresses and set strict risk control measures when participating.