Mantle (MNT) Price Today

Mantle's all-time high is $2.85, reached on October 9, 2025. At today's price of $0.3941, MNT trades 86.2% below that peak. Its lowest recorded price was $0.3136 on October 18, 2023.

Over the past 30 days MNT has moved −10.31% and over the past 90 days −37.82%.

Circulating supply is 3,302,294,383 MNT , against a maximum supply of 6,219,316,795 MNT. Total supply is about 6.21 billion MNT with roughly 53% circulating. Most of the remainder sits in the Mantle treasury, so new supply reaches the market through DAO-voted deployments — ecosystem funds, incentives, and credit facilities — rather than a published vesting calendar. That makes governance forum activity, not an unlock schedule, the thing to watch on the supply side.

What moves Mantle's price

• The Bybit relationship: Bybit co-founded and funded BitDAO, Mantle's predecessor, and remains its most visible affiliate and deepest listing venue. When Bybit was hacked for roughly $1.5 billion in February 2025, Mantle-ecosystem tokens sold off on contagion fears even though the Mantle network itself was not compromised.
• Treasury decisions: the DAO controls one of crypto's largest treasuries, but per Messari's Q2 2025 breakdown about three-quarters of it is MNT itself. Deployments — the $200M EcoFund, the 2026 credit facility of up to 30,000 ETH to Aave — and any sign of treasury selling are recurring catalysts in both directions.
• ZK-transition delivery: the 2025 upgrade to a validity rollup via Succinct's SP1 cut finality from about seven days to about one hour, the core of Mantle's institutional-settlement pitch. Execution on that roadmap, and whether it attracts real settlement volume, drives the fundamental story.
• mETH and cmETH growth: Mantle's liquid-staking arm grew into the fourth-largest ETH liquid staking token, and its TVL is the ecosystem's main on-chain demand signal.
• Supply overhang by vote: with only about half of MNT circulating and the treasury holding the bulk of the rest, governance proposals that move treasury MNT are effectively unlock events without a calendar.
• L2 competition and Ethereum data costs: like Arbitrum and Optimism, Mantle competes for activity and pays Ethereum for data availability (via EigenDA), so blob economics and the L2 market-share race flow through its fee competitiveness.

About Mantle

Mantle began as BitDAO, an investment DAO launched in August 2021 with backing from Bybit, Peter Thiel, Founders Fund, and Pantera; Bybit committed a slice of its futures trading volume to the treasury, building it into the largest in crypto. In May 2023 token holders voted to merge BitDAO into Mantle, converting BIT to MNT 1:1, and the Mantle Network mainnet launched in July 2023 as a modular OP-Stack rollup using EigenDA for data availability.

The network's defining move came in December 2024, when Mantle announced it would abandon the optimistic model and become a ZK validity rollup using Succinct's SP1 prover; the mainnet upgrade completed in 2025, cutting finality to about an hour and making Mantle the largest ZK rollup by value locked. Alongside the chain, Mantle built mETH Protocol — the fourth-largest ETH liquid staking token, with the cmETH restaking product added in late 2024 — and positions the whole stack as on-chain financial infrastructure anchored by its treasury.

MNT tokenomics

MNT superseded BitDAO's BIT token 1:1 in 2023. Total supply is about 6.21 billion, with roughly 3.3 billion (53%) circulating; the Mantle treasury holds most of the rest. Unlike ARB or OP, MNT is the gas token on its own network as well as the governance token, so it has direct fee utility. There is no fixed vesting schedule — treasury MNT enters circulation through DAO-approved programs, which concentrates supply decisions in governance votes that holders should track.