MNT, the token powering Mantle’s ecosystem, surged by over 20% in 24 hours to briefly peak at $2.86, a new all time high. The surge brought MNT’s seven-day gains to 46% and over 130% in 30 days resulting in its market capitalization rising from just under $4 billion in early September to $9.1 billion.

The surge follows the announcement of Mantle’s integration with the smart money application OR enabling users to utilize one unified account to seamlessly bridge fiat and crypto onchain. Unveiled on Oct. 7, the app, which is said to be available in 45 countries, enables users to easily move funds globally as well as convert crypto to multicurrency fiat at low fees. Furthermore, users can link their UR Mastercard debit card to Apple Pay and Google Pay as well as earn up to 5% APY on their USDe balances.

Some experts attribute the digital asset’ recent run to Mantle’s deepening, strategic and symbiotic relationship with the cryptocurrency exchange Bybit. In late September, Bybit unveiled a full upgrade of MNT’s capacities across its platform which established the token as a strategic asset for Bybit users. This also made Bybit the most natural marketplace for MNT investors.

According to one social media user, Elonmoney, Bybit’s discount program for MNT might have helped to create structural demand for the digital asset. The user, however, links the Asian capital piling into the token as a one key driver of MNT’s rally.

“Post-Token2049, Asian retail flow into exchange tokens ($ BNB, $MNT) accelerated. CN/Asia communities can corner the float – tight supply + rising demand = trend acceleration,” Elonmoney noted in a post on X.

Meanwhile, KOL Carl Moon said he expects MNT to hit $3.62, the next important target for the digital asset while other experts see the growing narrative of MNT as the next BNB sustaining the uptrend.

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