According to CryptoWatch, the native tokens of ARB and OP competing Ethereum scaling solutions Arbitrum and Optimism have lost 2.5% and 0.5% in value over the past 24 hours, respectively. ARB is trading at $1.2 at the time of this writing, while OP is priced at $1.5.
Nansen analyst Sandra Leow noted that the main difference between Mantle and its competitors is the use of EigenDA’s EigenLayer solution. Thanks to this, a three-tier modular Blockchain structure is achieved.
Recall that decentralised autonomous organisation BitDAO rebranded on May 19 and changed its name to Mantle. The company also converted the BIT token to MNT. The token migration is supported by cryptocurrency exchanges Bybit, MEXC and Huobi. Bybit, meanwhile, is the third largest holder of MNT with more than 15% of the total issuance, according to Etherscan data. Jump Capital and Jump Trading also hold MNT worth over $5.3m.