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Mantle price surges 17% to near all-time high

  • Mantle price jumps to near all-time high as volume spikes 50%
  • This comes amid integration of HyperEVM via LayerZero, enhancing MNT’s utility across blockchains.
  • MNT is only 4% away from its ATH reached in April 2024.

Mantle (MNT), the native token of the Mantle Network, has skyrocketed by 17% in just 24 hours to hit $1.50 as bulls target a new all-time high. MNT also popped to a new all-time high in terms of market cap, gaining amid major Bybit announcement.

This has caught the attention of crypto investors as Mantle volume surges 50% to signal  growing interest in Mantle’s ecosystem.MNT’s price gain is largely fueled by recent technological advancements and strategic partnerships.

What catalysed the MNT price surge?

Mantle’s latest price spike came alongside gains for other cryptocurrencies as Bitcoin surged to above $114k. However, MNT’s spike can be attributed to a series of developments within the Mantle ecosystem.

A key driver is the integration of MNT with HyperEVM via LayerZero’s Omnichain Fungible Token standard, enabling seamless cross-chain mobility. 

This move expanded MNT’s utility, allowing it to operate across multiple blockchain networks, enhancing its appeal to developers and users. Also, Mantle’s focus on low-cost, high-speed transactions has attracted decentralized finance (DeFi) projects, boosting on-chain activity.

The broader cryptocurrency market has shown bullish signals, but Mantle’s performance stands out with its 17% surge pushing the MNT market cap to an all-time high of $4.8 billion. 

Mantle’s trading volume also increased as investors looked to capitalize on Bybit’s listing of 21 new MNT trading pairs.

Bybit also announced a reward program for Mantle holders. The market’s positive response to Mantle’s technological advancements and partnerships signals strong investor interest. As well as price action, Mantle’s total value locked has surpassed $1.8 billion, signaling traction across DeFi.

What’s next for Mantle price?

Mantle’s trajectory depends on its ability to sustain ecosystem growth and navigate market dynamics. This includes its partnership with LayerZero and potential new integrations which could further enhance MNT’s interoperability, attracting more DeFi and NFT projects.

Upcoming developments may also indirectly boost Mantle’s visibility in the layer-2 space,despite analysts warning that macroeconomic factors, such as regulatory shifts or broader market corrections, could impact MNT’s price.

With its robust infrastructure and growing adoption, Mantle price could hit a new ATH and target $2.00 or higher.

As the ecosystem evolves, MNT’s price movements will likely reflect its ability to deliver on technological promises and maintain investor confidence. Currently, the technical setup supports MNT price surge.

The post Mantle price surges 17% to near all-time high appeared first on CoinJournal.

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BNB hits new ATH above $900 as Binance’s new DeFi initiatives spark bullish momentum

  • Binance Coin has hit new all-time highs, surpassing the $900 psychological mark.
  • The exchange’s collaboration with Franklin Templeton fueled the upside.
  • The partnership promises institutional-grade solutions.

Cryptocurrencies recorded relief rallies today after the United States PPI data, which increased the odds of rate cuts in the upcoming Fed meeting.

Meanwhile, Binance Coin led the recovery with a stable surge to new all-time highs.

BNB rallied to $905 intraday highs, fueled by Binance’s latest strategic collaboration with global investment manager Franklin Templeton.

The alliance aims to bolster digital finance accessibility globally, deliver institutional-grade monetary solutions, and accelerate tokenized assets adoption.

Binance’s official announcement highlighted:

We aim to bring greater efficiency, transparency, and accessibility to capital markets – while enhancing yield opportunities and settlement speed. This collaboration bridges the scale of traditional finance with the agility of decentralized markets, delivering solutions tailored to the evolving needs of a broad range of investors.

Merging DeFi with TradFi

The alliance has a common goal – transforming the traditional capital markets through decentralized finance.

The $1.6 trillion Franklin Templeton will leverage its experience in tokenizing securities, whereas Binance contributes its massive trading infrastructure and deep liquidity.

The duo plans to introduce innovative investment products that create new yield opportunities, enhance transparency, and streamline transaction settlement.

Commenting on the move, Franklin Templeton’s Head of Digital Assets, Roger Bayston, said:

By working with Binance, we can deliver breakthrough products that meet the requirements of global capital markets and co-create the portfolios of the future. Our goal is to take tokenization from concept to practice for clients to achieve efficiencies in settlement, collateral management, and portfolio construction at scale.

Binance cements institutional focus

The alliance reflects Binance’s dedication to serving institutional players as DeFi merges with traditional finance.

The exchange’s Head of VIP and Institutional, Catherine Chen, emphasized:

Binance has a record of innovating first-in-crypto solutions that unlock access and opportunities for investors. Our strategic collaboration with Franklin Templeton to develop new products and initiatives furthers our commitment to bridge crypto with traditional capital markets and open up greater possibilities.

BNB price outlook

Binance Coin exhibited a bullish structure today, boosted by the collaboration news and broader market recoveries.

It trades at $896 after a slight correction from its all-time high.

The 30% surge in daily trading volume signals revived optimism.

The latest move by Binance US to reduce trading fees also boosted enthusiasm.

BNB remains poised for extended gains.

Holding above $900 could open the doors towards the long-term target of $1,000 in the upcoming sessions.

Meanwhile, broader market sentiments remain crucial.

Extended recoveries would support BNB surges to higher targets, whereas a substantial selling wave would likely delay the rally.

Digital tokens saw relief rallies today after the US PPI data increased the chances of rate cuts.

Bitcoin has reclaimed $113,000 as the global crypto market cap soared to $3.96 trillion (Coinmarketcap data).

Experts anticipate bullish performance from cryptocurrencies in the upcoming sessions, citing the potential rate cuts during the September 17 Fed meeting.

The post BNB hits new ATH above $900 as Binance’s new DeFi initiatives spark bullish momentum appeared first on CoinJournal.

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Binance US slashes fees as trading volumes remain depressed

  • Binance.US slashes fees to 0% maker, 0.01% taker on 20+ crypto pairs, including ETH and ADA.
  • Exchange volume share fell to 0.20% after the SEC lawsuit, down from around 10% last year.
  • Fee cuts aim to win back traders in a US market now led by Coinbase and Kraken.

Binance.US, the American affiliate of global crypto exchange Binance, has cut fees on more than 20 trading pairs as it struggles to revive activity on its platform.

The exchange announced it will now offer 0% maker fees and 0.01% taker fees across the pairs, including Ethereum, Solana, BNB, and Cardano.

The updated fee schedule does not require any subscription or minimum trading volumes.

Maker fees apply to orders that provide liquidity by resting on the order book, while taker fees apply to orders that immediately match against existing orders.

As part of the change, Binance.US also expanded its “Tier 0” pricing model to include more than 20 additional pairs.

All Tier 0 pairs, including BTC/USD — which replaces BTC/USDC — now carry a 0.01% taker fee while maintaining 0% maker fees.

The Tier 0 structure was first introduced in 2022 with bitcoin trading pairs, a move that temporarily boosted trading volumes at the time.

Binance.US is aiming for a similar effect with its latest effort to reset pricing in a market where it has lost significant share.

Market share plunge since SEC case

Trading activity on Binance.US has declined sharply since mid-2023, when the US Securities and Exchange Commission (SEC) filed a lawsuit against Binance, Binance.US, and co-founder Changpeng Zhao.

In June 2023, the exchange suspended US dollar deposits and withdrawals, leaving it to operate solely as a crypto-to-crypto venue.

The absence of fiat rails contributed to a steep decline in volumes.

According to The Block’s Data Dashboard, Binance.US’s share of US dollar–supporting exchange volume has fallen to just 0.20% as of August, compared with roughly 10% prior to the SEC’s action.

Although the SEC dropped its case against Binance and related entities in May, trading activity has remained subdued.

Earlier this year, Binance.US restored dollar deposits and withdrawals for the first time in nearly two years.

However, the move has yet to translate into meaningful increases in trading volume.

Chris Blodgett, chief operating officer of Binance.US, declined to provide reasons for the continued low activity but reaffirmed the company’s broader strategy.

“We look forward to continuing our mission of building the best and safest digital asset trading experience in the US with high liquidity and tight spreads for even better price discovery and the best possible value,” he said.

Fee cuts aim to regain competitive edge

The latest pricing changes represent another attempt by Binance.US to regain relevance in a US crypto market now dominated by Coinbase and Kraken.

By lowering fees to near-zero levels, the exchange is seeking to re-establish itself as the country’s lowest-cost trading venue.

Whether that strategy alone will succeed remains uncertain.

The broader US regulatory environment has become more accommodating to crypto, with several high-profile cases against major crypto firms — including Coinbase, Uniswap, and OpenSea — recently dismissed.

Binance and Zhao, meanwhile, agreed to pay more than $4 billion last year to resolve a Justice Department probe into Bank Secrecy Act violations.

For Binance.US, the new fee cuts highlight an effort to stabilize operations and rebuild trust with users after a challenging period.

While low-cost trading may attract some participants back to the platform, sustaining growth will depend on broader market dynamics and the company’s ability to navigate the shifting US regulatory landscape.

The post Binance US slashes fees as trading volumes remain depressed appeared first on CoinJournal.