Manta Network Price Prediction 2024, 2025, 2030

What is Manta Network Coin and What is it Used For?

Manta Network is a modular blockchain network made up of two distinct chains, Manta Atlantic and Manta Pacific. Manta allows developers to build zero-knowledge dApps in Solidity—the world’s most popular smart contracting language and, at the time of writing, Solidity-based smart contracts secured over 94% of DeFi TVL.

Manta aims to offer the best experience for the next generation of Web3 dApps that are building using ZK technology by offering a ZK-based network with faster transaction speeds than existing layer 1 blockchains and lower gas costs than top layer 2 networks, all while allowing users to tie their on-chain activity to a compliant ZK-identity layer; meaning users can transact privately but still prove all their online activity to those who need to know, e.g., the taxman.

Manta’s Two Networks

As mentioned, the Manta network consists of two different networks:

Manta Pacific: A zero-knowledge, Ethereum layer 2 network (rollup), that focuses on scalability and security. It uses the Celestia modular network for data availability, helping to significantly increase transaction speed, and utilizes the Polygon zkEVM (Ethereum Virtual Machine) to provide a low fee, zero knowledge environment for solidity smart contracts to run in.

Manta supplements this with a ZK library that the developers of existing applications, by inserting a few lines of code, can use to enable ZK features on existing smart contracts. They also offer support for Universal Circuits, which allows for the development of ZK-based dApps in Solidity.

Manta Atlantic: A fast and decentralized layer 1 network that supports on-chain compliance identities and also supports zkNFTs, staking, and dApps. The focus of Manta Atlantic is to operate as a ZK identity layer that offers interoperable and complaint identities to other projects and chains, taking the necessary ZK cryptography off their plate and allowing them to integrate on-chain identity solutions with just a few lines of code. This system uses on-chain credentials that are tied to an off-chain identity database.

What Manta Network Offers Users

All this technology offers developers the tools to build with zero-knowledge technology, but what is the end result for the user? Here we’ve listed some of the many outcomes that the user can expect when using Manta:

• Faster transaction speeds than layer 1 blockchains
• Lower gas costs than existing layer 2 solutions
• Enhanced privacy for anonymous transactions
• A highly scalable blockchain that can scale as its use base grows
• Governance voting rights with the $MANTA token

While the Manta Network has an extensive grants program to entice developers over to its network, there is also a large focus on DeFi. This has proven popular with users because it has already reached #9 when chains are ranked by DeFi TVL and #3 out of all layer 2 chains.

What is the Manta Network Token Used For?

The Manta Network token, $MANTA, has numerous utility functions in the Manta Network ecosystem. The most prominent of these are:

• Transaction Fees:The $MANTA token is used by users to pay for transaction fees on the Manta Atlantic network
• Staking:Holders of Manta can stake their tokens to run a collator which helps to secure the Manta Network.
• Delegating:Holders of $MANTA who don’t want to run a collator can delegate their $MANTA to those who do run collators to help secure the network. 2% of the supply issued each year is allocated to stakers.
• Governance: Those who hold $MANTA tokens can vote on governance decisions on both the Manta Atlantic and Manta Pacific Networks.

The Manta Network Governance Structure

The Manta Network’s governance structure is another experiment in decentralized governance, showing just how much this sector of the space is evolving. Here the Manta project has implemented a governance structure that is made up of 5 Councils that collectively oversee the network’s development, treasury, future direction, and grant distribution. These councils are as follows:

• The Legislative Council: Made up of $MANTA token holders, who contribute to decisions on the network’s roadmap, vision, tokenomics, and utility.
• The Executive Council: The Manta Foundation. They translates the Legislative Council’s decisions into actions. Focused on network operations, educational initiatives, and research development
• The Judicial Council:Oversees grant distribution and the implementation of governance tools.
• The Examination Council:Manages the electoral process for electing Manta Foundation members.
• The Control Council: Oversees and “audits” the entire governance process, helping to maintain the integrity of the network and its governance processes.

So, much of the governance process starts with $MANTA holders and trickles down through the other bodies for approval and implementation—which still gives these bodies a sizable say over the direction of the network.

Manta Network Coin Overview

Below is a summary of the key stats of the Manta Network’s $MANTA token.

What Influences the Price of Manta Network?

As a layer 2 network building using an emerging, privacy-focused technology, the Manta Network crypto price can be influenced by a myriad of factors. We’ve detailed the biggest of these here for you.

Crypto Market Prices: As seen with the ripple effects of Bitcoin ETF approval at the beginning of the year, movements in the price of the top cryptocurrencies spur price movements in different sectors of the crypto industry—and can sometimes move the whole market.

This can happen in both directions and we can expect that Manta will not be immune to these price movements and will follow the market rollercoaster up and down.

Macroeconomic Climate: An improving macroeconomic climate is a good sign for crypto as investors are more likely to move funds into more speculative assets, such as crypto. If, however, the global economic situation doesn’t show signs of improving then token prices are likely to take a downturn with it.

Crypto Regulations: As a layer 2 blockchain, built on ZK technology, and focusing on providing identity solutions for ZK operations Manta Network is exposed to many elements of crypto that are going to be scrutinized by regulators around the globe.

While blockchain technology might be accepted by regulators, the biggest complaint against it is that it helps criminals to obfuscate their transactions and funding—this is incorrect as the transparency of blockchains does the exact opposite. ZK Technology is focused on providing such privacy and, as such, may not be accepted by regulators, which would likely be a devastating blow to Manta Network’s token price.

Ethereum Upgrades: As the Ethereum network passes each milestone in its roadmap its price is likely to pump with it. As the current section of the roadmap, called The Surge, is designed to increase the utility of layer 2 rollups (like Manta Network) we can expect that layer 2 token prices will also appreciate in the run-up to these events.

Manta Network Growth and Adoption: As the Manta Network grows, both through its roadmap and by adding more dApps and utility to the network, demand for the $MANTA token will also grow. As a result, it can be expected that token prices will appreciate with this growth in demand. If, however, demand for the network does not grow, then token prices are likely to fall.

Release of Competitors: There are almost a dozen ZK-rollups on Ethereum, and Manta has quickly climbed to the top of the pile to become the most popular of them. However, ZK technology is in its early stages and, as alternatives to Manta are launched investors might diversify their holdings by shedding some of their $MANTA and investing in the alternatives—bringing the $MANTA price down in the process.

Is Manta Network a Buy?

With Manta’s impressive start and rapid climb to the top 10 in the DeFi TVL charts, it already seems like this network has promise. Add to this the fact that the Ethereum roadmap is focused on increasing functionality to scale using rollups like the Manta Pacific network, then it looks like $MANTA should be a part of anyone’s portfolio.

Its ecosystem growth has been impressive so far, and a grant system is aiming to help sustain that growth. It is also a network at the forefront of building with ZK technology; a technology that is expected to become more and more important in the blockchain world as adoption grows and society advances from its current state.

However, while this final point may also be a reason to consider buying $MANTA it might also be a reason as to why, in the future, you may not want to hold $MANTA. As lawmakers draw up regulations for blockchain technology they are wary of its ‘potential for hiding transactions.’

Once they finally discover this not to be true they’ll discover ZK technology, and they will approach such a technology with a huge amount of skepticism and doubt, which may mean that they will not permitted its use. Potentially a death kills for many ZK protocols.

Best Place To Buy Manta Token In 2024

Binance is one of the top crypto exchanges for traders of all levels, and, at the time of writing, the majority of the trading volume for Manta Network’s $MANTA token was through the Binance exchange. This why we recommend Binance as the best place to buy $MANTA.

With Binance being the top exchange when ranked by trading volume and number of weekly visitors, traders can be sure that there is always enough liquidity for them to be able to make their trades; even for the newest of cryptocurrencies like Manta Network.

Users of Binance also trade with some of the lowest fees on the market, with a commission of 0.10% per trade—which users can cut by 25% if they hold the platform’s BNB token, or by hitting minimum trading volume limits.

Finally, Binance also offers staking for a wide variety of cryptocurrencies, featuring an array of APYs, and accepts a plethora of deposit methods, along with dozens of fiat currencies. For the more advanced traders, Binance also offers crypto futures, options, and the ability for traders to leverage their trade 1.5–3x.