- Mantle has shot up 230% in total value locked over the past six months to hit $755 million, outpacing L1 rivals like Sui and Avalanche.
- It recently became the third-largest protocol on Aave for total lending and borrowing, with $1.34 billion secured in a month.
Mantle has surpassed $755 million in DeFi total value locked (TVL), data from DeFiLlama shows, representing a 230% rise over the past six months.
According to DeFiLlama, Mantle is available across 165 protocols with $753.65 in TVL at press time and $1.394 billion in bridged TVL. The network’s rapid surge in TVL has overtaken established networks like Avalanche, Sui, Cronos, and Aptos, and it now ranks 12th in the market, just behind Polygon.
Fresh off @DefiLlama:
Mantle has outpaced multiple major chains in DeFi TVL for the first time, crossing $755M with over 230% growth in 6 months.
MoMNTum, undeniable. pic.twitter.com/c9dc1156YN
— Mantle (@Mantle_Official) March 23, 2026
In its announcement, Mantle revealed that six months ago, its TVL ranged around $200-$300 million. Despite the bearish market conditions that have wiped $1.4 trillion from the overall market cap, the protocol has increased its TVL by nearly 300%.
The network credits its focus on quality and utility for the expansion. The remarkable growth has not been a result of “short-term liquidity incentives or mercenary capital. It is the compound effect of deliberate ecosystem building, structural infrastructure advantages,” it says.
Mantle is gradually expanding beyond its traditional markets to target fast-growing segments like tokenized treasury bills and real estate.
Mantle’s Rise in a Bear Market
The announcement comes just days after Mantle revealed that its total lending and borrowing on Aave had surpassed $1.34 billion, just a month after its deployment, 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 is now officially ranked 3rd largest in market size for total lending and borrowing on @aave.
$1.34B secured, in slightly over a month.
Another new all-time high. MoMNTum is inevitable. pic.twitter.com/r7d7mgeR1I
— Mantle (@Mantle_Official) March 19, 2026
Commenting on the achievements, Emily Bao, a key advisor at Mantle, said that 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 accelerating it.
Meanwhile, the MNT token opened the week with a 4% loss, trading at $0.703 and bringing its total market cap to $2.3 billion. Over the past week, it has lost 16.5%, but the trading volume surged 132% to $89 million.
Overall, the DeFi market continues to expand as the product range goes beyond crypto. On Hyperliquid, traditional commodities like oil and silver have surpassed tokens like XRP and SOL in recent days.
Despite the rapid growth, security is a major concern; in the first three months, over $137 million has been lost in exploits. The most recent victim is Resolv, which lost more than $25 million over the weekend after an attacker exploited a protocol loophole to mint over 80 million unbacked USR tokens.
