#Bybit #Dubai #UAE #MNT #Mantle

Bybit Launches OTC Trading for MNT Tokens

Bybit, the premier cryptocurrency exchange globally by trading volume, recently announced the introduction of OTC (over-the-counter) trading for Mantle ($MNT) tokens. Providing institutional-grade trading capabilities, this initiative allows users to conduct bulk trades and enjoy more favorable rates, enhancing the trading experience.

What is MNT?

MNT is the native token of the Mantle Network, a groundbreaking L2 (Layer 2) scaling solution designed to build on Ethereum's architecture. The Mantle Network utilizes a technique known as Optimistic Rollup, enabling transactions to be logged off-chain and settled on-chain. This innovative approach leads to reduced transaction fees and significantly increased throughput compared to trading directly on Ethereum.

MNT's Performance Boost

Recent market trends have benefited MNT, particularly due to the surging value of Ethereum and its enhanced utility spurred by Bybit's integration. Reflecting its growth, MNT's price skyrocketed by 56.9% from $0.872 on August 5 to a peak of $1.368 by August 16. As of August 27, MNT managed to retain its price above $1.20, marking a significant 38.1% increase since early August.

In addition to its appreciating value, trading volumes for MNT have exploded as well. Notably, the spot trading volume climbed by 54.46% quarter-on-quarter, while derivatives trading surged an astonishing 412.58%, culminating in a total trading volume exceeding $20.5 billion during this cycle—an overall growth of 80.12%. This exemplary performance showcases Bybit's vital role in nurturing the MNT ecosystem and fostering its adoption in the crypto space.

Advantages of OTC Trading for MNT

Bybit now offers MNT trading via its OTC platform, which allows users to engage directly with their trading counterparty, ensuring better control by locking in prices and minimizing exposure to slippage in the order book. Key benefits include:

• - Locked-in Prices: Reduce the risks associated with price volatility.
• - Competitive Rates: Ideal for those interested in substantial trades, ensuring users receive optimal trading conditions.
• - Instant Execution: No delays—once a trade is confirmed, it is executed without time lag.
• - Multi-Token Trading: Trade MNT alongside popular tokens like USDT, USDC, BTC, or ETH.
• - Flexible Trading Range: Facilitates trades ranging from 100,000 to 3,000,000 MNT.

This OTC service is tailored to accommodate high trading volumes while ensuring speed and efficiency, making it particularly appealing to institutional investors and high-volume traders seeking reliable execution in a dynamic market.

Bybit's OTC trading for MNT is now officially live, providing users with an exciting opportunity to unlock new potential in their trading strategies. Be sure to check Bybit's terms and conditions for more details.

About Bybit

Established in 2018, Bybit has rapidly grown to become the world's second-largest cryptocurrency exchange by trading volume, with a vibrant user base of over 70 million. Bybit is committed to reshaping the cryptocurrency landscape by prioritizing transparency and accessibility within a decentralized framework. Through strategic partnerships with significant blockchain protocols, Bybit continues to bolster the infrastructure required for on-chain innovation. Known for its security, diverse marketplaces, and intuitive user experience, Bybit connects traditional finance with decentralized finance, empowering developers, creators, and enthusiasts alike to harness the immense capabilities of Web3. To explore the future of decentralized finance, visit Bybit.com.

For further information about Bybit and updates, follow their social media channels on Discord, Facebook, Instagram, LinkedIn, Reddit, Telegram, TikTok, Twitter, and YouTube.