Mantle Becomes Largest ZK Rollup Chain After Latest Upgrade – Crypto News – Crypto News
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Mantle Becomes Largest ZK Rollup Chain After Latest Upgrade Mantle Becomes Largest ZK Rollup Chain After Latest Upgrade

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Mantle Becomes Largest ZK Rollup Chain After Latest Upgrade – Crypto News

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7 months ago

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The move comes alongside increased speculation of MNT integrations on ByBit.

Ethereum Layer 2 network Mantle completed its upgrade to OP Succinct today, making the ByBit-backed blockchain the largest zero-knowledge (ZK) rollup by total value locked (TVL).

Mantle has transitioned to a custom version of the Optimism (OP) stack in an effort to become what it calls “the Liquidity Chain” in order to scale its DeFi ecosystem. The ecosystem’s TVL surged this summer, driven primarily by ETH’s price appreciation, and currently sits at $2.24 billion, just shy of its December 2024 all-time high of $2.36 billion.

Mantle TVL – L2Beat

Comparatively, ZkSync is now the second-largest ZK rollup with $1.2 billion, according to L2Beat.

In addition to the network upgrade, ByBit teased a new integration with Mantle that it refers to as the ByBit MNT Pass. There are no public details at this time regarding this pass or its benefits for either Mantle or ByBit users.

Mantle’s token has rallied sharply leading up to these announcements, with MNT up 45% since the beginning of September to $1.66, or a $5 billion market capitalization, from $1.14 at the beginning of the month.

Despite being the largest ZK rollup by total TVL, the chain is still on the smaller side in terms of its DeFi TVL, and maintains just $215 million in DeFi TVL according to DeFiLlama.

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