MNT Price Hits New High, Thanks to this Trump-Linked Stablecoin

MNT, the native token that powers the modular Layer-2 (L2) network Mantle, has emerged as today’s top-performing altcoin. Its value has soared over 7% today, even as the new trading week kicks off on a lackluster note across the broader crypto market. 

Fueled by the recent deployment of World Liberty Financial’s USD1 stablecoin on the Mantle network, the rally has pushed MNT to a new all-time high. Now, the altcoin is ready to extend its gains. 

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Trump-Linked Stablecoin Sparks Mantle Liquidity Boom 

Last week, Donald Trump-backed World Liberty Financial announced the deployment of the protocol’s $3 billion USD1 stablecoin on the Mantle network. 

This integration has increased Mantle’s stablecoin market capitalization by 1% over the past week, deepening on-chain liquidity. According to data from DefiLlama, this stands at $738 million at press time. 

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Stablecoins provide blockchain networks with a stable medium of exchange for transactions. Therefore, when their supply grows, it signals increasing confidence from users. This, in turn, drives up the price of the network’s native token, as higher liquidity allows users to transact more frequently and use the token to facilitate those transactions.

As on-chain activity deepens, demand for MNT will likely strengthen, supporting the potential for a continued price rally in the short term.

Furthermore, the positive readings from MNT’s price daily active address (DAA) divergence confirm the uptick in the altcoin’s demand, adding to this bullish outlook. This metric, which compares an asset’s price movements with the changes in its number of daily active addresses, is at 94.47%.

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A price rally accompanied by a positive DAA divergence is a bullish signal, suggesting growing interest and potential for further price appreciation.

The trend suggests that MNT’s currency rally is not speculative noise but backed by genuine user demand and network activity.

MNT Trades in Bullish Formation

On the daily chart, MNT has traded within an ascending parallel channel since September 6, highlighting the steady rise in buy-side pressure in the market. 

This pattern is formed when an asset’s price moves consistently between two upward-sloping trendlines — one acting as support and the other as resistance. 

The formation of this channel indicates that MNT has been climbing in a well-defined uptrend, with each pullback attracting renewed demand over the past few sessions. If demand remains, the token could break above this pattern and stretch to fresh highs in the coming sessions.

However, MNT’s price could slip under $2 to reach $1.84 if profit-taking commences.