MANTRA (OM) coin is an altcoin. It is a cryptocurrency forked from Bitcoin. It uses a proof-of-work consensus algorithm and has a similar technical architecture to Bitcoin, but has different functions. Such as focusing on DeFi and slowing inflation.
Is MANTRA (OM) coin an altcoin?
Short answer: Yes
Long explanation:
MANTRA (OM) coin is an altcoin , which is technically similar to Bitcoin but has different features and functionality. Altcoins are cryptocurrencies that are not Bitcoin but imitate its underlying technology.
Here are some reasons why MANTRA (OM) coin is classified as an altcoin:
- Forked Bitcoin: MANTRA (OM) coin is derived from Bitcoin's original blockchain was forked, meaning it shares a similar technical architecture with Bitcoin.
- Using the same consensus algorithm: Like Bitcoin, MANTRA (OM) coin uses the Proof-of-Work (PoW) consensus algorithm, which requires a lot of computing power to verify transactions.
- Has different features: Despite the technical similarities, the MANTRA (OM) coin also has different features that Bitcoin does not have, such as a focus on DeFi (decentralized finance) ) and slow down inflation.
Therefore, MANTRA (OM) coin serves as an altcoin that borrows from the technical foundation of Bitcoin but at the same time has new features and functionality that make it unique and different from Bitcoin.
MANTRA (OM) Current Price Trend
As of 12 Oct 2024, 15:00, the latest price of MANTRA (OM) is $1.5190448093123 USD. The 24-hour trading volume is $23420110.920215, a gain of 5.47%.
Price Moving Factors
MANTRA’s recent price increase may be attributed to the following factors:
- Positive Market Sentiment: Bullish sentiment emerged across the cryptocurrency market, boosting coins including MANTRA.
- Sound Fundamentals: The project’s strong development roadmap and mature business model attracted investors.
Future Price Trend Analysis
Given current market conditions and fundamentals, MANTRA’s price trend is likely to continue to trend upward. However, it is important to note that cryptocurrency markets are inherently volatile and may undergo unexpected changes.
Recommendations
Investors should carefully evaluate their risk tolerance and investment objectives when considering adding MANTRA to their portfolio. Due to the volatility of cryptocurrencies, it is recommended to invest cautiously and stop losses promptly when necessary.
Short-Term Trend Forecast
In the short term, the price of MANTRA is expected to remain around current levels, with the potential for further gains.
Indicators
- Current Price: 1.5190448093123 USD
- 24 Hour Volume: 23420110.920215 USD
- Price Change: Up 5.47%
- Circulation volume: 849473305.73226 MANTRA
- Circulation market value: 1290388015.722 US dollars
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