MNT Price Slides 15%, and INF Token Presale Surges As CPI Reading Turns Bearish

The MNT price has taken a major hit on the news that US inflation data suggests prices could once again be on the rise. The data sent shudders through the market as the possibility of interest rate cuts by the Federal Reserve was once again drawn into doubt despite promises from the US president.

While Mantle (MNT) was one of the big losers following the poor CPI data, the Infinaeon presale managed to continue to build on its momentum. Several large presale purchases came in in the days following the CPI data, partly due to the INF60 promotional offer that is expected to end in the near future.

The MNT price is now struggling to find support above $1, and its market cap continues to shed millions. This bearish price action reflects the uncertainty surrounding the project's future and the challenges it faces in a volatile market environment.

Meanwhile, the INF presale is nearing its final few months, as the Layer-2 network's native token looks to have its Token Generation Event (TGE) in the coming months. This progress, coupled with the attractive presale bonus and the project's strong fundamentals, has contributed to the growing interest in Infinaeon.

MNT Price Struggles To Hold $1

The MNT price hit $1.4 dollars in January, which was just a few cents from its all-time high. The rally was driven by an enormous surge in demand for MNT, which operated as the utility token for the Mantle Layer-2 Ethereum scaling solution.

Mantle utilizes Optimistic Rollup technology to achieve faster and cheaper transactions than those typically found on the Ethereum mainnet. This technology allows for transactions to be processed off-chain and then batched together and submitted to the main Ethereum blockchain, reducing congestion and fees.

The MNT token has a total supply of six billion, two hundred nineteen million, three hundred sixteen thousand, seven hundred ninety-four (6,219,316,794). Approximately half of this supply, around 3.1 billion MNT, is currently in circulation.

The recent price decline has raised concerns among investors and analysts. Price prediction experts worry that if MNT can't establish support above $1, more downside could be on the way. This uncertainty highlights the challenges faced by Layer-2 tokens and the importance of factors such as adoption, technology, and tokenomics in determining their long-term success.

Infinaeon Presale Heats Up As TGE Approaches

Several whale purchases have been recorded by the Infinaeon presale, even as the poor CPI data hit the rest of the market. As MNT was crashing towards $1, INF was being snapped up by traders, some of whom were drawn in by the INF60 code, which gives 60% extra tokens on top of the original purchase for free.

The strong fundamentals of the project are pushing the presale forward. Infinaeon's Layer-2 solution promises to address Ethereum's scalability challenges by providing faster and cheaper transactions, making it an attractive alternative for users and developers seeking a more efficient blockchain experience.

The mainnet and DEX are already live, with staking options in the pipeline. This demonstrates the project's commitment to delivering on its promises and building a robust and user-friendly platform. The successful launch of these key features has further solidified Infinaeon's position as a promising Layer-2 solution.

The presale is nearly 50% completed, with the TGE date fast approaching. This creates a sense of urgency for those looking to participate in the presale and acquire INF tokens at a discounted price with the added bonus.

Join The Infinaeon Presale Now

Presale: https://presale.infinaeon.com/

Telegram: https://t.me/Infinaeon/

Discord: https://discord.com/invite/WSy65uAYfd

X: https://x.com/Infinaeon