Mantle Network, a Layer 2 blockchain network operating on Ethereum, has seen notable growth since its launch last month.
The network’s growth has been further substantiated by the influx of assets sent to Mantle from the Ethereum bridge. Around 5,000 unique addresses have bridged nearly $56 million from Ethereum to Mantle, according to a NansenSandra Leow, a research analyst at Nansen, attributed Mantle Network’s TVL growth to the current trend of Layer 2 chains launching and"the capital rotation from Ethereum’s mainnet.
“Mantle Network holds one of the largest on-chain treasuries , with $3.2 billion in liquid assets, most of which are in Mantle tokens, followed by stablecoins. This provides insight into their branding and credibility of the L2,” Leow told The Block.$200 million fund to support early-stage apps on the Ethereum Layer 2. This fund could enhance Mantle’s prospects for building a rapidly expanding ecosystem, Leow added.
Unlike traditional blockchains, where all transactions are funneled through a single layer, Mantle has introduced a more dynamic approach. It employs a modular chain system, breaking down execution, data availability, consensus and settlement into separate layers. © 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Pokémon Games: Snag the Scarlet & Violet Obsidian Flames Elite Trainer Box for Only $40Amazon is discounting this card game playing essential for 27% off — grab it while it’s still in stock.
Read more »
Lordstown To Settle Trade Secret Theft Lawsuit With Karma For $40 MillionKarma Automotive sued Lordstown claiming it poached employees and stole technology used in its infotainment systems
Read more »
A Nurse Who Stands for ‘12+ Hours’ Says This Now-$40 Slip-On Is the ‘Only’ Shoe That Doesn’t Leave Them AchingNurses praise the ultra-comfortable Skechers Go Joy Walking Sneakers and call them “a godsend.” Get them for 33 percent off on Amazon now.
Read more »
Trump National Bedminster members moan that ex-prez is being a cheapskate over $40 LIV Golf tickets“All the members are pissed,” said an insider, “They’re closing the course, the pool, the restaurant, and we pay a lot of money to use those.”
Read more »
Former Sixers coach Doc Rivers joins ESPN as the network’s top analyst for NBA gamesDaily News | Former Sixers coach Doc Rivers joins ESPN as the network’s top analyst for NBA games
Read more »
Jodie Sweetin Speaks Out After New Movie Lands On Candace Cameron Bure's TV NetworkThe 'Fuller House' actor's next film, “Craft Me a Romance,” is set to air on the conservative Great American Family network.
Read more »