Mantra (OM) Price Has Continued Its Upward Trajectory

Mantra (OM) price has continued its upward trajectory, rising 12% in the last week to take the second spot among Real World Asset tokens in terms of market capitalization.

Mantra price has continued its upward trajectory, rising 12% in the last week to take the second spot among Real World Asset tokens in terms of market capitalization.

Now boasting a market cap of approximately $6.8 billion and rivaling Chainlink (LINK), Mantra (OM) has emerged as one of the best-performing layer 1 tokens in 2025.

Looking at the chart, OM has been on a strong uptrend since early 2024, climbing from near zero to almost $10. The recent rally comes after a short period of consolidation, where the price held above key support levels before breaking out again.

As the chart below shows, the Bollinger Bands are converging, indicating an impending spike in volatility. The MACD is still in buy territory with both the histogram and line situated above the zero level. The RSI is at 58.28, showing neutral-to-bullish momentum as it trades above 50. And finally, the ADX reading of 36.31 confirms that the trend is strengthening.

One important resistance level to monitor is the previous local high of $8.17. A breakout above this level could push the price towards $10, a significant psychological milestone.

Support on the downside is located at $6.76 and $5.54, which corresponds to the lower Bollinger Band and the 20-day moving average.

Moreover, data from Coinglass reveals that open interest in OM futures has increased, rising from a monthly low of $319 million to $378 million. This indicates that traders are increasing their exposure, which often points to growing confidence in price direction.

The table above shows the total open interest for major cryptocurrency futures on March 18. As you can see, the vast majority of the open interest is in BTC futures, followed by ETH and LINK futures. OM futures come in fourth place with a total open interest of $378 million.

This is significant because it highlights the strong demand for Mantra among traders. As the price of OM continues to rise, we can expect to see even more traders enter the market, further increasing the open interest.

The increase in open interest is also being driven by the upcoming Mantra airdrop. As we mentioned earlier, the community is preparing to vote on a proposal to handle 26.9 million OM that were flagged as suspicious during the GenDrop campaign.

The vote will take place over 48 hours beginning on March 18, and it will determine how the airdrop will be distributed. Each ATOM holder with at least 0.08 ATOM in their wallet snapshot as of March 15 will receive 1.98755564 Mantra at a rate of 0.01 ATOM : 1 OM.

However, following the discovery of more than 123,000 fraudulent wallets during its GenDrop campaign, on Mar. 18, Mantra opened up a 48-hour-long governance vote to decide how to handle 26.9 million OM that were flagged as suspicious.

In order to avoid deliberate market manipulation, the team confirmed that the GenDrop allocation will be released without prior notice and will constitute a 10% unlock, or 1,987,555.64 OM.