Ethereum Layer-2 (L2) tokens showed remarkable strength in the aftermath of last week’s $19 billion crypto liquidation. Mantle (MNT) surged 31%, outperforming the broader market and becoming one of the top three gainers among the 100 largest cryptocurrencies. Other major L2s — Arbitrum (ARB), Immutable (IMX), and Polygon (POL) — also posted solid double-digit rebounds.
Analysts attributed Mantle’s rally to its integration with Bybit, growing on-chain activity, and expanding ecosystem utility. Data from blockchain researcher SatyaXBT showed a 117% weekly rise in active addresses, the fastest growth among all Layer-2 networks.
Bybit’s August campaigns and its joint roadmap with Mantle — dubbed Mantle 2.0 — aim to transform the network into a “liquidity chain” for tokenized real-world assets, bridging centralized and decentralized finance. Research firm Delphi Digital noted that the partnership effectively turns MNT into a core utility asset within the Bybit ecosystem.
Meanwhile, recent Binance outages during the market crash may have further boosted investor confidence in Bybit and Mantle. Binance acknowledged temporary glitches that caused token de-pegging events and later compensated users with $283 million.
According to Redstone Labs co-founder Marcin Kazmierczak, the crash was triggered by President Trump’s 100% tariff announcement on China, sparking panic selling when traditional markets were closed — leaving crypto as the primary outlet for global risk reaction.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.