- Mantle has increased in total value by 230% over the past six months to $755 million, surpassing L1 rivals such as Sui and Avalanche.
- It recently became the third-largest protocol on Aave for total credit amount, securing $1.34 billion in a month.
Mantle has surpassed $755 million in DeFi Total Value Locked (TVL), data from DeFiLlama shows, representing a 230% increase in the past six months.
According to DeFiLlama, Mantle is available across 165 protocols with $753.65 in TVL at the time of writing and $1.394 billion in bridged TVL. The network’s meteoric rise in TVL has overtaken established networks such as Avalanche, Sui, Cronos and Aptos to now rank 12th in the market, just behind Polygon.
Fresh from @DefiLlama:
Mantle has surpassed several major chains in DeFi TVL for the first time, crossing $755 million with over 230% growth in six months.
MoMNTum, unmistakable. pic.twitter.com/c9dc1156YN
— Mantel (@Mantle_Official) March 23, 2026
In his announcement, Mantle revealed that the TVL was between $200 and $300 million six months ago. Despite bearish market conditions that have wiped $1.4 trillion from the total market cap, the protocol has increased its TVL by almost 300%.
The network credits its focus on quality and usability for the expansion. The remarkable growth has not been the result of “short-term liquidity incentives or mercenary capital. It is the compound effect of deliberate ecosystem building and structural infrastructure benefits,” the report says.
Mantle is gradually expanding beyond its traditional markets to target fast-growing segments such as tokenized treasury notes and real estate.
Mantle’s rise in a bear market
The announcement comes just days after Mantle revealed that total lending to Aave had surpassed $1.34 billion just a month after its implementation, revealing strong demand for its products in the DeFi market. This rapid growth made it the third largest network on Aave, after Ethereum and Plasma.
BREAKING: Mantle now officially ranks third in market size for total loans and borrowings on @aave.
$1.34 billion secured in just over a month.
Another new all-time record. MoMNTum is inevitable. pic.twitter.com/r7d7mgeR1I
— Mantel (@Mantle_Official) March 19, 2026
Commenting on the performance, Emily Bao, a key advisor at Mantle, said surpassing Avalanche, Sui and other established networks was just the beginning. She added:
Our 230% growth despite the current “cold” market conditions and ongoing political tensions proves that our infrastructure is built for builders who value sustainability and scale. As RWA becomes the backbone of DeFi, Mantle will be the engine that accelerates it.
Meanwhile, the MNT token opened the week with one 4% loss, trade on $0.703 and brings its total market capitalization to $2.3 billion. The past week has been lost 16.5%but trading volume rose 132% to $89 million.
Overall, the DeFi market continues to grow as its product range extends beyond crypto. On Hyperliquid, traditional commodities like oil and silver have surpassed tokens like XRP and SOL in recent days.
Despite the rapid growth, safety is a major problem; in the first three months, more than $137 million was lost to exploits. The latest victim is Resolv, which lost more than $25 million this weekend after an attacker exploited a loophole in the protocol to earn more than 80 million unbacked USR tokens.