Is This Why MANTRA (OM) Hit ATH Despite Overall Market Stagnation?

On June 10, OM, the native token of the decentralized finance (DeFi) platform MANTRA, reached an all-time high of $1.09.

This milestone coincides with the project’s strategic expansion efforts within the United Arab Emirates (UAE).

OM Token Skyrockets Following MANTRA’s Strategic Partnership

According to CoinGecko data, at writing time, OM remains up 9.7 over the past 24 hours, currently trading at $1.04. The token also experienced a 78.20 surge in its trading volume, reaching $88 million, and boasts a market cap of $859 million, positioning it as the 105th largest cryptocurrency.

MANTRA is an RWA Layer 1 blockchain designed to adhere to and enforce real-world regulatory requirements. It provides a permissionless blockchain for permissioned applications, targeting both institutions and developers.

The OM token is central to MANTRA’s ecosystem, allowing holders to participate in various DeFi activities such as lending, borrowing, and earning rewards. Additionally, OM holders can vote on proposals that shape the platform’s future.