The price of Mantra has increased for three consecutive days, making it one of the top-performing cryptocurrencies while many others have seen declines.

The Mantra (OM) token has climbed to $4, slightly exceeding its lowest point this week. This upward movement has raised the token’s market capitalization to over $3.8 billion.

This surge in price occurred even as the staking yield fell to 15.4%, a decrease of more than 12% in the last 24 hours, as reported by StakingRewards. Interestingly, despite this yield drop, the staking market cap grew by over 5% to reach $2.4 billion.

Nevertheless, Mantra continues to provide some of the highest staking rewards in the cryptocurrency market. For comparison, Polygon offers yields of 5.6%, while Ethereum (ETH) and Solana (SOL) offer yields of 3.2% and 6%, respectively.

Staking involves the delegation of tokens to help maintain network security, with yields typically originating from the fees the network generates, distributed on a monthly basis.

The impressive staking yield of Mantra has bolstered its position as one of the leading cryptocurrencies this year, with its price climbing over 7,200% from its lowest point.

This surge accelerated recently with the launch of MantraChain, a layer-1 network designed for the creation of Real World Asset tokenization products. MantraChain aspires to become the preferred blockchain for developers operating within the rapidly expanding tokenization space.

According to its developers, the chain effectively addresses the blockchain trilemma of decentralization, security, and scalability by utilizing the Cosmos SDK, one of the most widely used frameworks in the cryptocurrency sector.

The tokenization industry has seen remarkable growth in recent years. For instance, Ondo Finance (ONDO), a prominent tokenization project, has amassed over $600 million in assets. Additional tokenized assets, including BlackRock’s BUIDL and Franklin Templeton’s FOBXX, collectively represent more than $1 billion in assets.

Mantra price poised for significant movement

The daily chart illustrates that the OM price has been stabilizing in recent weeks after its rapid ascent in November.

This consolidation phase has formed a bullish pennant chart pattern, which is a common continuation indicator. The pattern is characterized by a long vertical line followed by a symmetrical triangle. Generally, assets undergo significant breakouts as the triangle approaches its convergence point.

If this pattern holds true, the OM price may rebound initially to its year-to-date high of $4.5. A movement beyond that threshold could indicate further advancements, potentially elevating the price to the next psychological level of $5. Conversely, a dip below the support level of $3.5 would negate the bullish outlook.