The native token of Ethereum Layer-2 blockchain Mantle surged over 20% to reach a record high of $0.948 at one stage on Monday afternoon in Asia, according to The Block’s price page. The jump was mainly driven by the growing interest in Mantle’s applications and the broader Ethereum Layer-2 ecosystem, experts said.

Joe Caselin, head of institutional marketing of crypto exchange BIT, said that Mantle’s “double-dose” drive — which offers double the market reference rate for staking ether — has driven its popularity.

"With Mantle Staked Ethereum (mETH), the team has cooked up ways to take market share away from category leader Lido. The unusually high 7.2% native ‘double dose’ yield serves as a clear example," Caselin told The Block. 

“As users get a taste of the mETH, developers are …