Despite the DDoS attack Manta Network’s native token MANTA is performing extremely well in terms of its market capitalization as well as trading volume. Over the past 24 hours, MANTA’s market cap has surged by 14.04% followed by a trading volume surge of 99.05%. Currently, MANTA is trading at $2.58 with a market cap of $647 million and a trading volume of $457.58 million.
Manta Network is the Web3 modular ecosystem that is useful for users to build and deploy any Solidity-based decentralized applications. It assures faster speed transactions through a leveraged technology stack compared to L1. Additionally, it saves gas costs more than that in L2.
MANTA Token’s ICO
Manta Network successfully launched its ICO on Binance Launchpool on January 16, 2024. The ICO offered 80 million MANTA tokens for sale at $0.36 each, with a total fundraising goal of $28.8 million. As per ICO Drops, the project managed to raise $60.5 million, exceeding its initial target by more than 100%, indicating investors’ strong interest in Manta Network and its privacy-preserving DeFi protocol.
Manta Network’s Token MANTA Listed in Exchanges
Network’s native token MANTA is listed in various exchanges. The top exchanges where MANTA is currently available for trade are Binance, Bybit, Bitget, L Bank, Bithumb, KuCoin, and Bitrue.
Manta Network Faced DDoS Attack
Manta Network faced a Distributed denial of service (DDoS) attack the same day it listed its MANTA token in major exchanges. The attack resulted in a longer withdrawal time making the network slower.
Manta Network developers informed about the attack posting on X, “The network has accumulated a large queue of recent transactions. This is leading to longer transaction times and impacts on gas fees. We are aware of this issue and are working to resolve it.”
Fierce competition is heating up in the blockchain world, with newcomers like Manta promising lightning-fast transactions at a fraction of the cost compared to established players like Ethereum. Backed by heavyweight investors and aggressively championed in crypto communities, these upstarts aim to attract users and fees, ultimately fueling the value of their native tokens. However, traders need their own research before buying the coin considering the risk factors of the crypto world.
Also See: Bitcoin ETFs Booming, $4 Billion BTC Acquired in 6 Days