The market valuation of MNT surged to $4.21 billion in the fourth quarter of 2024, representing a rise of 106.67%. That is according to new metrics released today.

MNT’s performance in Q4 remarkable

Also, MNT’s price experienced incredible growth, rising 100.53% QoQ from $0.62 to $1.25 during the same period.

This market capitalization and asset price increase were mainly fueled by several factors. The successful rollout of the liquid restaking token, cmETH token, in October 2024, attracted users to the Mantle Network. Mantle’s mETH protocol witnessed significant user adoption. Also, advanced DeFi solutions and increased customer engagement across Mantle’s ecosystem expanded investor optimism.

Furthermore, during Q4 2024, Mantle’s Total Value Locked witnessed substantial growth, according to Messari’s report. Its TVL rose to $2.16 billion from a low of $1.69 billion, reflecting a QoQ increase of 27.81%. This growth was catalyzed by an increased customer base and expanded activity across the ecosystem, particularly within the network’s DeFi sector through major products like mEH protocol and cmETH token.

Lastly, Mantle’s Total Treasury Holdings rose to a high of $3.93 billion in Q4 from a low of $2.57 billion in Q3, representing a 52.56% increase.

Why Mantle Network transformed to ZK-rollup

On Dec.19, 2024, Mantle Network transitioned to a ZK-rollup using Succinct’s zkEVM framework. Mantle used ZKPs (Zero-knowledge proofs) to deliver institution-grade trust assumptions for its expanding ecosystem of users and developers.

The development revealed that ZK (Zero-knowledge) is the future for all rollups and that the technology has become a narrative that is facing increasing adoption. As demonstrated by Mantle, all rollups are fated to become ZK rollups. With its transition, Mantle has positioned itself to become the biggest ZK rollup with institutional-grade fast finality.

Mantle’s transformation into a ZK rollup was made possible by OP Succinct. Precisely, OP Succinct is a type-1 zkEVM that provides high levels of scalability, devex, and customization to fit specific networks’ stringent requirements. By slashing finality times from seven days to just one hour, OP Succinct tremendously improved the usability of Mantle’s tokens like fBTC and mETH across the Mantle ecosystem.

OP Succinct is known for its specialty in ZK rollup transitions. Based on this specialization, all applications on Mantle work seamlessly on Mantle’s new ZK rollup version. Mantle developers can now write their own custom STF, allowing Mantle to deploy features such as custom gas tokens.