Mantle and Avalanche Lead Gains Amid Market Downturn
- Ethereum layer-2 network Mantle surged by 12.1%, reaching a market cap of $5.9 billion.
- Avalanche rose by 10.7% in a day, with a market cap of $14.5 billion, following significant investment by a Bitcoin mining firm.
- The DeFi platform Aster’s token increased by 7%, driven by a spike in total value locked from $378 million to $1.46 billion.
- Bitcoin and Ethereum remained flat, while the broader market faced double-digit losses over the past week.
Despite a general downturn in the crypto market, Mantle and Avalanche have posted notable gains due to strategic partnerships and investments, respectively, highlighting their resilience amid widespread losses.
Mantle’s partnership with Bybit and Avalanche’s major investment have been key drivers of their respective price increases, contrasting with the flat trading seen in Bitcoin and Ethereum this week.(Source)
