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    Wednesday, May 20
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    MNT Price Dives by 5% in Broader Crypto Selloffs

    Julius AlagbeBy No Comments2 Mins Read
    MNT Price Dives by 5% in Broader Crypto Selloffs

    MNT Price Dives by 5% in Broader Crypto Selloffs

    Mantle (MNT) dipped by 4.84% over the last 24 hours to $0.7022, underperforming the broader market amid a macro-driven sell-off and technical rejection.

    Broader market declines due to ETF outflows and macro uncertainty, Mantle moved in lockstep with a risk-off shift across crypto, traders said, as investors pulled out cash.

    The total market cap fell 2.5% as spot Bitcoin ETFs saw $74.5 million in net outflows on March 24, reversing prior inflows.  Investors are cautious ahead of key PCE inflation data, pressuring altcoins like MNT, which often exhibit higher beta.

    The price broke below its 7-day average of $0.730 and 30-day average of $0.706, confirming short-term weakness. Social sentiment reflects this, with a noted bearish post highlighting rejection from key resistance.

    The immediate trigger is Bitcoin’s price action and Friday’s PCE inflation print. If BTC holds above $69,000, MNT could attempt a rebound toward its 7-day average near $0.73. However, a break below $0.70 support could trigger a deeper pullback toward $0.68.

    Mantle’s decline is driven by macro headwinds and broken technical support, with no coin-specific catalyst to offset selling. Key watch: Whether MNT can defend the $0.70 support zone amid ongoing market uncertainty.

    Mantle announced that its DeFi Total Value Locked (TVL) surpassed $755 million early this week, marking a 230% increase over the past six months.

     This growth, which occurred during a challenging market, is attributed to strategic ecosystem-building and deep partnerships with the Bybit exchange.

    Investors are targeting a bounce after data showed that Mantle Vault on Bybit surpassed $150 million in assets, and Aave lending/borrowing surpassed $1.35 billion.

    Mantle’s lending market on Aave exceeded $1.35 billion in total market size, making it the third-largest on the protocol globally. This milestone was reached in just over a month since launch, coinciding with Mantle’s overall DeFi TVL crossing $1 billion.

    Mantle is executing its distribution-layer strategy with remarkable success, evidenced by explosive TVL growth and deep DeFi integrations, yet this fundamental strength hasn’t been fully reflected in MNT’s recent price action. Useless Coin Lost 15% as Traders Dump Speculative Asset

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    Julius Alagbe is a senior financial journalist and Editor at MarketForces Africa with nearly two decades of experience in finance, accounting, and economics reporting.He is one of Nigeria's most prolific financial market reporters, covering capital markets, monetary policy, corporate earnings, banking, telecoms, and macroeconomic developments across Africa.Julius has built a strong footprint reporting on Nigeria's leading corporates and financial services sector, including coverage of the Nigerian Exchange Group, Central Bank of Nigeria monetary operations, MTN Nigeria, GTCO, and major investment banking transactions.He regularly monitors the CBN’s open market operations, interbank FX markets, and equity market movements, providing readers with real-time intelligence on Nigeria’s financial landscape.His reporting draws on direct access to institutional research from firms including Moody’s Ratings, CardinalStone Securities, Fitch, and other leading African investment houses.Julius brings analytical depth and editorial rigour to every story, making complex financial data accessible to professionals, investors, and policymakers across Africa.Julius Alagbe is based in Lagos, Nigeria.

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