Mantra (OM) Spike 40 % New ATH: Why does this go up?

The mantray price rose to a new highest price of $ 5.87 on January 30. This profit was ranked as a mantra as one of the best performances of the day, and open interest rising 37 %. OMs have increased rapidly since MANTRA has ink the Dubai -based DAMAC Group and $ 1 billion token transactions.

The mantra (OM) rose rapidly on Thursday and appeared as the largest winner among the largest cryptocurrencies of 100 with market capitalization. With a surge of over 40 % at a time, digital assets have recorded a new history of $ 5.87, against slow markets.

At the time of writing, the OM price has slightly retreated to $ 5.59, but the mantra is one of the best performances in today's Crypto, +23 % in the past 24 hours.

Only Jasmycoin, which has risen more than 25 % in the past 24 hours, has exceeded OM among the top 100 coins. The mantra is 28th, Jasmy is currently 69th, with a market capitalization of $ 1.57 billion.

Why does the mantra increase the price today?

According to CoinmarketCap data, MANTRA has recorded 214 % of daily volume spikes. This was $ 497 million at the time of writing. The market capitalization of the mantra was $ 5,355 million.

Open Interest, on the other hand, increased 37 % to $ 428 million or more. This is because more than $ 1.83 million is liquidated in 24 hours, most of which are 1.8 million short pants.

The mantra stood up with other altcoins in the rapid increase in bitcoin on Thursday, but the catalyst, which could increase the momentum of OM, seems to be like a recent partnership DAMAC group.

At the center of this collaboration is token into actual assets. In particular, it is related to real estate, and Damak's traction in Dubai can produce adoption prospects.

Up to 1 billion dollar world assets under DAMAC will be token into a mantra, not so bullish for OM. The entire asset tokenization space is also surprising, and other RWA tokens have been improved.

RWA's market capitalization has increased by 11 % and exceeds $ 40 billion, and ONDO Finance, XDC Network, and Quant have won Quants between top gains.