Monero Chan

The latest news of the crypto projects Mantra, Monero, and Aptos

Before moving on to the charts, let’s see what the most important news in the crypto sector is regarding the Mantra, Monero, and Aptos projects.

Starting from Mantra we cannot fail to mention the now imminent launch of the L1 type blockchain mainnet focused on the RWA sector.

After a long phase of testing and work on the code, the network is about to go live publicly, with release times estimated by the end of October.

To commemorate the event, the Mantra team has allocated a sum of 50M of crypto OM, equivalent to 75 million dollars, as an airdrop incentive.

More specifically, these tokens will be distributed to the stakers of ATOM on the Mantra node, to the participants of the Mantra Zone Season 2 initiative, and to some holders of NFT.

Regarding Monero and its cryptographic ecosystem, we mention the infrastructural development of the new CARROT protocol.

Let’s talk about a routing application, proposed by the Github user “Jeffro256”, which aims to improve certain aspects of the Monero network.

First and foremost, CARROT adds new features with a privacy focus, such as the secrecy of outgoing viewing keys. It also adds some protections against “Janus” type attacks that link two addresses to the same wallet.

At the same time, the new protocol maintains backward compatibility with existing Monero crypto addresses and simplifies the management of transactions.

Finally, speaking of Aptos, we report the latest acts of the global Hackathon “Code Collision” (sponsored by the Aptos Foundation) which will officially end tomorrow.

The event is dedicated to the world of crypto developers, who are called upon to present their own idea and try to win part of the $500,000 prize pool.

Code Collision brings new code writers closer to the Aptos ecosystem by introducing new ideas that could potentially improve the cryptographic network.

The topics tackled by the participants are 5: DeFi/RWA, NFT, AI/DePin, Social, and “the unexpected”. On November 12, the winners of the hackathon will be announced.

Price Analysis of the Mantra (OM) Crypto: Time for New ATH

Moving on to the analysis of the charts, let’s immediately take a look at Mantra and the native crypto of its ecosystem. OM is one of the most in-form coins at the moment, reporting a performance of +37% in the last month of trading.

We are talking about a crypto that is ranked #60 on the Coinmarketcap ranking, with a capitalization of 1.3 billion dollars. 

OM is recording right now a new All-Time-High (ATH) of its price, with quotations that have surpassed the level of 1.5 dollars per unit.

Clearly, the Mantra network’s crypto asset is enjoying the hype surrounding the mainnet launch. Investors are aware that the OM crypto will increase in utility in the market, attracting new potential buyers from now on.

The airdrop incentive also pushes users of the Cosmos world to take a step into the mantra ecosystem, in view of possible future rewards.

Regarding more specifically the price analysis of OM, we see how the crypto maintains an excellent bullish structure on the weekly time frame. The growth phase of the coin, which started back in January 2024, seems unstoppable. OM perfectly maintains prices above the EMA 50 without showing any signs of a decline.

During the summer drawdown, the currency even outperformed Bitcoin and Ethereum by losing only a few percentage points.

We are now in “price discovery”: the market will determine the right price for Mantra’s crypto. Volumes and RSI are not particularly encouraging, however, and suggest a possible decline in prices to reset investor euphoria.

Analysis of the crypto Monero (XMR) and Aptos (APT): positive moment for the altcoins

The price action of the crypto Monero (XMR) and Aptos (APT) is less exciting than that of Mantra (OM), but it still offers us some interesting insights.

Going in order, for XMR we can immediately observe how the coin has been moving for 2 years now within the range of 100-200 dollars, with a current price of 152 dollars.

For the majority of the time, the Monero token has been traded in the lower part of this range, showing weakness in the quotations. The fate of the project and the cryptographic asset associated with it depends on how the privacy coin theme will evolve from here on out.

Several cryptocurrency exchanges have indeed delisted Monero due to the stringent regulations in the field, making a very interesting technology almost obsolete.

If XMR were to be re-listed on the major exchanges in the sector, we might see a completely better chart behavior.

For the moment, limiting ourselves to the current outlook, we can state that if the token returns above 175 dollars, we might observe a possible pump up above the extremes of the range.

In case of a restart of the bull market, there are good chances for a continued rise of XMR:

Regarding Aptos and APT, we notice a particularly inviting chart structure, capable of leading the token towards new bullish horizons.

The currency is traded around 10 dollars, with prices that have recently returned from just above the EMA 50 after a long retracement phase.

In March, in the midst of the general market crash, APT lost 70% of its quotations only to return to a potentially bull chart formation.

Indicatively, we can expect a continuation of the positive phase of prices in the coming weeks, with the first target at 12 dollars.

If in the event of a drop the bears do not push below 8 dollars, we could still remain confident in an excellent upcoming bull market for the crypto.

In the medium term, we expect growth above 20 dollars, leading to new local highs.

Strong growth of the Aptos DeFi ecosystem: X4 on TVL since the beginning of the year

Among the 3 cryptos analyzed, the one from Aptos seems probably the most interesting to focus on, also considering the excellent DeFi moment of the project.

Although the Mantra and Monero ecosystems are also working in the right direction, on Aptos we cannot fail to recognize the success of some operations by the team.

At this moment Aptos is the 14th chain with the most capital locked within it, with over 50 million stablecoin present.

Since the beginning of the year, the TVL has grown by 4 times, as has the number of active users on the cryptographic network.

These numbers are the result of a long series of initiatives dedicated to attracting traders and developers around a highly undervalued L1 network.

The various airdrops, hackathons, and prize events have indeed led to very significant growth in the project’s DeFi sector.

We expect this trend to continue until the end of the year, with possible new ATH of the TVL, currently at 720 million dollars.