2024 sees OM [Mantra] outperforming the rest, will 2025 be any different?

Throughout the previous year, Mantra’s digital asset, known as OM, experienced a remarkable surge in value, surpassing other forms of cryptocurrencies. 2024 witnessed the price of Mantra rising from a meager $0.043 to an impressive all-time high of $4.6, achieved just a fortnight ago.

Following this peak, the currency has slightly retraced, with its current value standing at $3.65. This surge represents an increase of 8354.87% over the year, placing Mantra at the forefront of the crypto market in terms of performance.

Mantra’s Dominance in 2024: +8354% Growth

Aphractal’s data confirms that OM has outperformed major cryptocurrencies over the last year significantly. For example, it has surpassed Ethereum [ETH] by 196.5 times and Bitcoin [BTC] by 67 times.

Mantra’s substantial growth not only denotes the strength of its ecosystem but also points to the escalating demand for its blockchain technology. The market’s increasing acceptance of blockchains oriented towards real-world asset integration and regulatory compliance solidifies OM’s position as the most influential altcoin of the year.

Future Prospects for Mantra Token

Throughout 2024, Mantra has been making strides towards wider market adoption and establishing a notable presence in the competitive crypto landscape. Looking ahead, it becomes crucial to assess what the future holds for OM and whether it can sustain its current momentum.

Analysis from CryptoCrypto suggests that Mantra’s market might be entering a phase of correction due to overheating. Despite a slight drop in the MVRV Ratio Z score from 9 to 7.2 in the past week, signaling a cooling market, the score remains at an elevated level.

An MVRV Ratio Z score above 3.7 suggests that the market value exceeds the realized value significantly, often leading to a corrective phase or price decline. This scenario could be further reinforced by the appearance of a bearish crossover on indicators like Stoch RSI and RVGI.

The emerging bearish trend indicates a potential price decline for OM, with predictions pointing towards a drop to $3.4 if the bearish momentum persists. However, if the yearly trend remains strong, Mantra could potentially reclaim the $4.0 resistance level.