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The price of MANTRA (OM) reached a new all-time high (ATH) on November 18, climbing to $4.45.
According to CoinGecko, OM achieved this milestone after gaining 23% in a single day and surpassing its previous ATH by 4.45%.
Over the past week, the token has surged by approximately 209%, climbing from $1.33 to $4.45.
Other RWA Coins Follow MANTRA’s Lead
MANTRA is part of the Real World Assets (RWA) sector, which is gaining traction as a promising crypto narrative. RWA projects link real-world assets to the blockchain.
With a market cap of $3.9 billion, OM is currently the largest RWA coin, according to CoinGecko. Its impressive growth has pushed the total market capitalization of RWA coins up by 14.5% in the last 24 hours, reaching $13.9 billion.
Other RWA coins are also experiencing significant gains. Quant (QNT), ranked third by market cap after MANTRA, has grown by 31.7% over the past week.
Similarly, XDC Network (XDC), which rounds out the top five RWA tokens with a $649.4 million market cap, has surged nearly 43% during the same period.
What Triggered OM’s Price Surge?
On November 15, MANTRA announced an upcoming GenDrop—a type of airdrop—for users who engaged with the ecosystem by bridging tokens from ERC20 to the MANTRA chain or completing other specified activities.
?? ATTENTION SHERPAS: GenDrop claims are starting soon!
If you have allocations tied to your EVM wallet (ex. Galxe participants or eligible NFTs), make sure to bridge $OM to MANTRA Chain to ensure you can successfully claim your rewards.
? This crucial step will link your… pic.twitter.com/3egAeT4fmr
— MANTRA | Mainnet Live (@MANTRA_Chain) November 15, 2024
This announcement created significant buzz around MANTRA, further fueled by the lack of clarity regarding eligibility criteria.
According to analysts at Airdrops, the GenDrop appears to target specific groups, including holders of MANTRA NFTs, Pudgy Penguins NFTs, and participants in Galxe Seasons. These users may need to move their OM tokens.
$OM Airdrop ??- @MANTRA_Chain put out a confusing message yesterday on X. $OM GenDrop is coming and it looks like some criteria do not have mapping from EVM wallet to $OM Mantra Chain wallet.
?Do not need to do anything
?? $ATOM Stakers
??NFT holders: @madscientists_x… pic.twitter.com/KkwjpXxuq8— Airdrops (@Airdrops_one) November 16, 2024
