- Mantle surged 12% after a Bybit partnership boosted institutional appeal.
- Avalanche rallied 10% following a $550M treasury buy by AVAX One.
- Aster jumped 7% as TVL hit $1.46B and daily perp volumes topped $6B.
Ethereum Layer-2 project Mantle is leading today’s surprise rallies. The token jumped more than 12% in 24 hours, pushing its market cap to $5.9 billion and making it the 37th largest cryptocurrency. The spike follows Mantle’s new partnership with exchange Bybit, which will offer higher leverage rates and better loan terms for institutional players.
The move signals that Mantle is gaining traction beyond retail hype, positioning itself as a serious scaling solution while other altcoins struggle under selling pressure.
Avalanche Gains Momentum After Massive Treasury Buy
Avalanche (AVAX) has also stunned traders with a 10.7% daily surge, despite the sea of red across the market. The rally came after a Bitcoin mining firm rebranded itself as AVAX One and announced a $550 million purchase of AVAX tokens as part of a treasury pivot. Its stock price soared 200% on the news, sending fresh confidence into the Avalanche ecosystem.
On-chain metrics back the bullishness: Avalanche recorded $4.29 billion in trading volume on Monday and $4.46 billion on Friday—the highest levels since late 2023. Daily inflows topped $80 million in futures markets, fueling speculation that AVAX may have more room to run.
Aster Emerges as Perp DEX Challenger
Meanwhile, Aster—an emerging perpetuals DEX on Binance Smart Chain—continues to gather momentum against its heavyweight rival Hyperliquid. The ASTER token climbed 7% in the last 24 hours, now holding a $2.8 billion market cap and ranking as the 56th largest crypto asset.
DefiLlama data shows that Aster’s total value locked (TVL) exploded from $378 million last week to $1.46 billion today. On Monday alone, the platform posted $6 billion in perpetuals trading volume, a milestone that has investors eyeing its long-term potential. Prediction markets on Myriad currently give Aster a 67% chance of pushing from $1.70 to $2 by month’s end.
The Bigger Picture: Market Still Shaky
Despite these standout performances, Bitcoin and Ethereum remain flat after Monday’s $1.6 billion liquidation wipeout across crypto markets. Most major altcoins continue to trade in the red, showing that Mantle, Avalanche, and Aster are the rare exceptions defying the correction. Whether they can maintain momentum will depend on fresh catalysts and broader market sentiment.
