Mantle (MNT) surges strongly, defying the market thanks to the 'Ethereum treasury' strategy

In the context of the overall cryptocurrency market showing signs of stagnation, token #Mantle (MNT) has gone against the trend, impressively increasing by 8% in one day and nearly 25% over the past week. Mantle, a layer-2 network of Ethereum, is attracting investors' attention thanks to its ambitious 'Web3 Ethereum treasury' strategy.

Strength from the 'Ethereum treasury'

Mantle positions itself as the 'largest treasury $ETH among Web3 entities', holding $364 million in ETH. The recent growth of MNT may be driven by the trend of businesses actively accumulating digital assets. This position shows MNT investors that their token is backed by ETH, a less volatile asset, providing confidence and stability.

Technically, MNT is showing very positive indicators. The Average Directional Index (#ADX ) at 33 indicates a strong upward trend. The Relative Strength Index (RSI) at 69 still has plenty of room for growth before entering the overbought zone.

Ethereum at a crossroads

Meanwhile, Ethereum (ETH) is at a crucial transition point. Although long-term indicators show a strong bullish trend, with ADX at 39, short-term indicators indicate a necessary correction. The RSI of ETH is at 55, suggesting the market is 'digesting' recent price increases rather than exhausting. This means ETH may be preparing for a phase of significant volatility.