In Q4 2024, Mantle TVL surged 354% year over year, as mETH became the fourth-largest Ethereum liquid staking token.
According to the State of Mantle Q4 2024 report by Messari, Mantle Network experienced significant growth, with its total value locked surging by approximately 354% year-over-year and 36% quarter-over-quarter. According to Messari, this surge was largely driven by the expanding user base and heightened activity throughout the ecosystem, especially its DeFi sector.
Source: Messari Report State of Mantle Q4 2024
Read more: Mantle Network’s MNT rallies 17% amid ecosystem expansion plans
Moreover, mETH emerged as a dominant player in Ethereum liquid staking within its first year, reaching a peak TVL of approximately $2.19 billion and securing its position as the fourth-largest liquid staking token on Ethereum. Incubated by Mantle’s team, the protocol was deployed on Ethereum while remaining under Mantle’s governance. This governance model enabled seamless integration with the broader Ethereum ecosystem, leveraging Mantle’s structure for enhanced interoperability and efficiency.
Meanwhile, Mantle’s treasury value grew by 52.56% in Q4, rising from roughly $3.00 billion in Q3 to $4.62 billion by the end of 2024. This increase was primarily fueled by the appreciation of the Mantle (MNT) token, which accounted for nearly 88.85% of the treasury’s total value.
On the technical front, Mantle Network advanced its infrastructure by integrating ERC-7683 and Chainlink’s cross-chain interoperability protocol to enhance cross-chain functionality, adopting OP Succinct to transition from optimistic to zero-knowledge rollups for improved scalability and finality, and implementing Safe{Core} multi-signature solutions for enhanced security. Mantle also collaborated with BlockSec to strengthen protocol security and took proactive measures to protect users from phishing threats.
Meanwhile, Mantle’s native token is currently trading at $1.07, with a market capitalization of $3.6 billion, according to CoinGecko.
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