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BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
BTC $96,420 +2.34% ETH $3,280 +1.82% SOL $185.40 -0.92% BNB $642.50 +0.45% XRP $2.18 +3.12% DOGE $0.082 -1.50% ADA $1.05 +0.80% AVAX $42.10 +1.15%
08/08/2025

MNT Surges Over 25% in a Single Day: This L2 Holds Over 100,000 ETH in Reserve and Deepens Strategic Ties with Bybit

On August 8, the native token of the Mantle network — MNT — posted a stunning 25.6% gain in 24 hours, shooting up to a peak of $1.10, its highest level since February 2025. The rally pushed MNT's market cap to approximately $3.67 billion, while 24-hour trading volume surpassed $600 million, reflecting a sharp spike in market interest. L2 with Over 100,000 ETH in Reserve — #1 Among All Layer 2s On July 29, Mantle announced its participation in the Strategic ETH Reserve program, under which the project's treasury now holds a total of

MNT Surges Over 25% in a Single Day: This L2 Holds Over 100,000 ETH in Reserve and Deepens Strategic Ties with Bybit

On August 8, the native token of the Mantle network — MNT — posted a stunning 25.6% gain in 24 hours, shooting up to a peak of $1.10, its highest level since February 2025. The rally pushed MNT's market cap to approximately $3.67 billion, while 24-hour trading volume surpassed $600 million, reflecting a sharp spike in market interest.

L2 with Over 100,000 ETH in Reserve — #1 Among All Layer 2s

On July 29, Mantle announced its participation in the Strategic ETH Reserve program, under which the project's treasury now holds a total of 101,867 ETH, worth over $390 million. This is the largest ETH reserve held by any Layer 2 currently active.

The breakdown of holdings is as follows:

  • Direct ETH: 4,454 ETH
  • mETH (Mantle ETH LST): 77,218 ETH
  • ETH deposited on the MI4 platform: 20,195 ETH

Mantle's mETH product offers strong liquidity and is steadily growing its footprint, backed by institutions such as WLFI and the Kraken exchange.

Ecosystem on Fire: TVL and Capital Inflows Surge

According to data from DefiLlama, over the past 7 days:

  • TVL reached $240.76 million
  • Stablecoin inflows rose 13.96%
  • Total stablecoin market cap on Mantle hit $651.82 million

Mantle's on-chain activity is also gaining momentum, driven by incentive programs:

  • Mantle Tide (ending August 8): distributes $25,000 in MNT rewards to users who interact with bridges, DEXes, and dApps
  • Reward Booster S3: distributes 1.2 million MNT, incentivizing users to lock tokens in exchange for 3x rewards

Bybit Doubles Down — Mantle 2.0 Strategy Officially Launches

Mantle maintains a close relationship with Bybit. Recently, two senior female executives from Bybit:

  • Helen Liu — co-founding CEO of Bybit
  • Emily Bao — Head of Spot Trading and founder of ByReal
    have joined Mantle in strategic advisory roles.

According to Ben Zhou — founder of Bybit — both ecosystems will become increasingly integrated going forward. Mantle 2.0 will expand into DeFi and support real-world asset (RWA) financial products.

Among these initiatives, the Web3 banking app UR Neobank — which lets users store, spend, and invest directly on-chain — is currently in beta (ending August 8) and has been generating significant buzz in the community.

Moving Toward ZK Layer 2 and Censorship Resistance

On the technical side, Mantle is upgrading from an optimistic rollup L2 to a ZK Validity Rollup model by integrating Succinct Labs' SP1 proving system and EigenDA — a decentralized data availability layer. This upgrade promises to significantly improve scalability, censorship resistance, and overall network reliability.

Conclusion

With a rapidly expanding ecosystem, substantial reserve assets, sustained capital inflows, and the backing of one of the world's largest exchanges, Mantle is emerging as one of the most formidable Layer 2s in the market today.

MNT's rise may be more than a short-term price move — it could signal the start of a new growth cycle for the Mantle ecosystem, especially amid fierce competition from other L2s like Arbitrum, Optimism, Base, and ZKSync.