ALAMEDA RESEARCH JUST MOVED $10M MANTLEAlameda Research just transferred $10.7M MNT to an address associated with Hex Trust. This address makes frequent deposits to CEX like Binance and Kraken.Is Alameda’s estate selling Mantle? https://t.co/ysRYLSpNup ...

Mantle was one of the few top 30 ranked cryptocurrencies to deliver rare gains on Monday, September 15, rising 5% as broader macro headwinds weighed down crypto market momentum. Mantle’s 5% price rally coincided with the team confirming a packed line-up of community engagement events scheduled for the coming weeks. In a thread posted on X, the Mantle team announced the start of its program with “Mantle in Seoul,” set for September 22–25. The event is designed to connect builders and users, shaping near-ter ...

#BybitMNT #Mantle #Bybit ...

Market Overview - The cryptocurrency market has rebounded impressively after a significant downturn, with a total market capitalization rising to $3.76 trillion, an increase of 2.01% from the previous day [1] - Among the top 100 cryptocurrencies, 95% experienced price increases within the last 24 hours, indicating a strong recovery momentum [1] Traditional Market Influence - The rebound coincides with a stabilization in traditional markets, with S&P 500 futures rising after a sell-off triggered by tariffs, alleviating investor concerns due to factors like tariff reductions and strong earnings from companies like Meta and Microsoft [3] - Analysts predict that the Nasdaq's performance will likely surpass that of the S&P 500, driven by the tech sector's growth during the AI boom [3] Key Cryptocurrency Performances - Bitcoin saw a slight increase of 1% to $114,798, providing a stable foundation for altcoins [3] - Ethereum led the recovery among major cryptocurrencies, rising 4.36% to $3,650, breaking through the $3,600 resistance level [4] - XRP increased by 2.83% to $3.04, buoyed by speculation around its spot ETF and clearer regulatory outlook following the SEC lawsuit [7] - Litecoin outperformed both Bitcoin and Ethereum with an 8.72% increase to $119.11, with analysts confident about its upcoming ETF approval [8] Technical Indicators - Ethereum's technical indicators show a bullish trend, with the 50-day moving average providing solid support around $3,200 and the 200-day moving average at $2,700 [4] - The Average Directional Index (ADX) for Ethereum reached 40, indicating a strong upward trend [4] - Litecoin's technical indicators also suggest a bullish outlook, with an ADX nearing the critical 25 mark and the RSI at 68, indicating strong buying pressure [8] Trading Platform Insights - XBIT decentralized exchange is highlighted for its low slippage, high liquidity, and compliance, becoming a core platform for trading mid-cap cryptocurrencies like Mantle and Memecore [3][10] - The platform supports major public chains such as Ethereum, Solana, and BSC, attracting traditional financial investments into the crypto market through RWA (real-world asset) channels [10]

Financial Data and Key Metrics Changes - In Q1 2025, the company reported total revenue of $97.8 million, representing a year-over-year growth of 28.5% [23] - Adjusted EBITDA improved to $12.1 million compared to $3.8 million in the same quarter last year [23] - The company exited the quarter with an Annual Recurring Revenue (ARR) of approximately $400 million, reflecting a 33% increase [23] Business Line Data and Key Metrics Changes - Subscription revenue grew by 27% in Q1 2025, accounting for 95% of total revenue [23] - The company added 36 new digital banking clients, representing 1.1 million digital users, and exited the quarter with 278 live clients and 20.5 million registered users [24] - Revenue per user (RPU) increased by 18% to $19.74, driven by the Mantle acquisition and successful add-on sales [25] Market Data and Key Metrics Changes - The company reported a strong demand environment for digital banking, with no observed decline in demand from regional and community financial institutions [6][10] - The company’s sales pipeline remains robust, with a healthy mix of new logos and client renewals [25] - The company expects to churn only four clients in 2025, representing less than 1% of ARR, indicating strong client retention [24] Company Strategy and Development Direction - The company is focused on enhancing its product offerings in onboarding and account opening, retail and commercial functionality, user experience, and personalization [13] - The Mantle acquisition is expected to drive cross-selling opportunities and enhance the company's competitive position in the digital banking space [15][44] - The company is building a strategic development center in India to increase product and engineering capacity while maintaining profitability commitments [16] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving the 2026 financial objectives outlined in previous earnings calls, citing a strong implementation backlog and sales pipeline [6] - The management noted that digital banking has shifted from a budget agenda to a capital allocation agenda for clients, emphasizing its strategic importance [9] - The company anticipates that the Mantle business will be accretive to adjusted EBITDA in 2026, with expected ARR under contract of approximately $60 million by the end of 2025 [33] Other Important Information - The company completed the acquisition of Mantle on March 17, 2025, for an enterprise value of $393 million [30] - The company ended the quarter with $95 million in cash and marketable securities and expanded its credit facility from $125 million to $225 million [29] Q&A Session Summary Question: Was the $5 million spend for the offshore initiative lighter in Q1? - Yes, it was a lighter expense in Q1, with the majority expected to concentrate in Q3 and Q4 of 2025 [36][37] Question: What contributed to the growth in revenue per user? - Mantle contributed about 1.8 to RPU this quarter, with a more normalized growth rate expected going forward [39][40] Question: Can you frame the cross-selling opportunity with Mantle? - Mantle had five transactions sold into the Alchemy base, and the integration is expected to be smoother than previous acquisitions [44][46] Question: Where is the most traction seen with the Mantle acquisition? - Balanced demand is observed in both banks and credit unions, with a focus on enhancing account opening experiences [51][53] Question: What are the implications of potential deregulation in the banking industry? - Open banking could present opportunities for customers to gain market share if they have the right technology [93][94] Question: What would it take for banks to slow spending on digital banking? - There would need to be extraordinary dislocation for banks to halt their digital banking projects, as these are often budgeted line items [97][98]