YEREVAN (CoinChapter.com) – Jan 18 is a significant day for MANTA coin despite the 5% drop in token price to $2.16. Let’s review the trading session’s importance and why the coin price could climb in the coming sessions.
The Manta Network recently experienced a Distributed Denial of Service (DDoS) attack. During this incident, the blockchain’s nodes were flooded with over 135 million remote procedure call (RPC) requests.
Despite the severity of the attack, the Manta Network’s blockchain continued to operate safely, and user funds remained secure. However, the attack did cause significant limitations in the communication between apps and the blockchain. The Manta Network team has since resolved the issue and reassured their community of their commitment to the project’s future.
Rest assured, we are not going anywhere. We have built for three years, and we see no end in sight. Thank you so much for your support as a community.
said Kenny Li, co-founder of P0xeidon Labs, the team behind Manta Network
MANTA Price Might Recover
Despite the attack, Manta Network’s token bagged a trading volume of over $800 million in the first 24 hours of the coin’s trading on major exchanges, which we will come back to in a minute.
Moreover, the trading volumes exceeded MANTA’s market cap at $540 million. While the situation is not uncommon for fresh coins, it increases the risks associated with investing. Additionally, Manta started trading on several major exchanges, which increased the bullish chances.
MANTA Airdrop And Listings
A major highlight for Manta Network was the MANTA token airdrop, scheduled for Jan 18, 2024. The airdrop distributed MANTA tokens to early participants, drawing additional interest to the coin. This event is part of a broader strategy by Manta Network to enhance engagement. The project also plans to expand its ecosystem in anticipation of the token’s introduction.
The growing number of listings, including Binance exchange could also pump the MANTA price. However, before jumping into details, it is important to note that there are no surge guarantees. It is not always obvious if a token will enjoy high demand for long.
Besides Binance, Manta Network was also listed on other major cryptocurrency exchanges like KuCoin and Gate.io, further expanding its accessibility and reach within the crypto market. KuCoin announcement earmarked Jan. 18 as the trading launch day, increasing MANTA’s chances for a bullish reversal.
BitMEX announced the listing of a MANTAUSDT perpetual swap contract. It offers up to 10x leverage, which commenced on Jan. 18, 2024, after the MANTA spot markets opened. BTSE jumped on the bandwagon, noting that it will add the token to BTSE’s wider ecosystem of exchanges.
As of the New York session, over 50% of MANTA trading took place on Binance.
