Mantra (OM), a leading player in the Real World Asset Tokenization (RWA) industry, has become one of the best-performing cryptocurrencies this year.

It has jumped by over 5,200% since January, pushing its market cap to over $1 billion. Here are some of the top reasons why Mantra has beaten the likes of

Mantra (OM), a key player in the Real World Asset Tokenization (RWA) industry, has emerged as one of the best-performing cryptocurrencies this year. Since January, it has surged by over 5,200%, pushing its market cap to above $1 billion. Here's a closer look at some of the top reasons why Mantra has outperformed the likes of Solana and Ethereum.

Upcoming mainnet launch

Investors are eagerly awaiting the upcoming mainnet launch, which is slated for later this month, as Mantra has soared and is now trading near its highest level since July 24.

?️ #MANTRA Brings Real-World Assets Onchain with #Mainnet Launch.We’re thrilled to announce that the highly anticipated launch of the MANTRA Chain Mainnet will be coming in October 2024. ?As part of MANTRA’s vision to become the preferred ledger of record for real-world… pic.twitter.com/AGkZ5Xe6R1

This mainnet launch is set to establish Mantra as the largest blockchain for the tokenization industry.

According to experts, tokenization is poised to become the most significant use case within the blockchain domain. For instance, Mantra has secured an agreement to tokenize real estate assets valued at over $500 million within the United Arab Emirates (UAE).

Furthermore, several tokenized funds launched by companies such as Franklin Templeton, Blackrock, and Ondo Finance have each managed to accumulate assets amounting to over $500 million.

Mantra's mainnet will introduce features that are already present on its testnet, including verifiable network security and a trusted platform for deploying institutional capital onchain.

Typically, cryptocurrency prices tend to perform well in the lead-up to a major event. To cite a few examples, Bitcoin soared to a record high of $73,800 in March this year, ahead of the halving event, and also rose in December as anticipation of spot Bitcoin ETFs rose.

High staking yield and no token unlocks

Another factor contributing to Mantra's token surge is its status as one of the highest yielders within the crypto industry.

Mantra boasts a staking yield of 22.3%, which surpasses that of all the top coins. In comparison, Cosmos Hub yields 18.1%, while popular coins like Avalanche, Tron, Ethereum, and Solana have yields of less than 6%.

Mantra's 22% yield translates to an income of $22 per year on a $1,000 investment in the coin, assuming all factors remain constant. A similar investment in Ethereum, which has a 3.25% yield, would generate less than $4.

Most significantly, data from CoinMarketCap reveals that Mantra has a total supply of 888,888,888 OM tokens, out of which 850 million are in circulation. This implies that Mantra will not experience any dilution in terms of token unlocks, unlike other popular coins such as Avalanche and Sui.

A token unlock refers to a scenario where new tokens are added to a network as part of a vesting schedule. When this unlock occurs, a portion of these tokens ends up in a staking pool, resulting in lower yields.

Mantra has strong technicals

In addition to the above, Mantra also boasts strong technicals. As evident in the chart above, the token has formed an ascending channel, which connects key swings since March of this year. At present, it has moved close to the upper boundary of this channel.

Moreover, Mantra has remained above the 50-day and 100-day moving averages and the 23.6% Fibonacci Retracement level. It also trades above the first support of the Andrew's pitchfork tool. As a result, we can expect Mantra to continue soaring as buyers aim for the all-time high of $1.4145.

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