Following a significant price increase, MNT investors are preparing to sell their tokens, as indicated by the increased supply on exchanges and the high profit/loss ratio of recent transactions.
Points
- MNT’s price increased by 17%, reaching $0.8935.
- Increased supply on exchanges suggests upcoming selling pressure.
- Seven-day average shows 1.59 profitable transactions for every loss-making transaction.
- Key price thresholds: $0.80 and $0.50 for potential drops, $0.93 for possible gains.
As of the time of writing, Mantle’s （MNT） price has increased by 17% over the past seven days, reaching $0.8935. This surge has prompted many investors to prepare their tokens for profit-taking, as reflected by the increased supply on exchanges. This trend indicates potential downward pressure on the token’s value as investors seek to capitalize on the recent price increase.
Increased Supply on Exchanges
Data shows that 321 million MNT tokens, worth approximately $286 million, are currently held in exchange wallets, marking a 3% increase over the last six days. The significant uptick noted on July 17 suggests that investors are positioning themselves to sell, which typically indicates upcoming selling pressure.
Market Dynamics and Investor Sentiment
The seven-day average of the daily on-chain transaction volume’s profit/loss ratio reveals that for every loss-making MNT transaction in the last seven days, there were 1.59 profitable transactions. This high ratio of profitable transactions indicates strong investor sentiment towards selling and realizing gains from the recent price surge.
Key Price Thresholds
If investors begin selling in large volumes, MNT could face significant downward pressure, potentially dropping to key price thresholds of $0.80 or even $0.50. Conversely, if demand increases, the price could rise to $0.93, presenting a potential selling opportunity for investors.
Market Cap and Trading Volume
MNT’s current price of $0.8935 brings its market cap to $2.92 billion, ranking it 31st in the cryptocurrency market. Additionally, the 24-hour trading volume has increased by 20%, reaching $193 million, reflecting the heightened trading activity and investor interest in MNT tokens.
###解説
- The significant price increase of MNT reflects strong market interest and the potential for profitable transactions, driving increased trading activity.
- The higher supply of MNT tokens on exchanges suggests that investors are preparing to sell, potentially leading to downward price pressure.
- Monitoring the market dynamics, such as token movement to exchanges and transaction profit/loss ratios, is crucial for making informed investment decisions.
- Key price thresholds provide strategic entry and exit points for investors, helping to maximize gains and mitigate losses.
- The overall increase in market cap and trading volume underscores the growing significance of MNT in the cryptocurrency market, attracting both retail and institutional investors.