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Monthly Report of mETH Holdings Across the Mantle Ecosystem: January 2026

16 Feb, 20262 min read
MantlemETH
Monthly Report of mETH Holdings Across the Mantle Ecosystem: January 2026

As Ethereum adoption institutionalizes, ETH is increasingly held with a longer-term asset orientation rather than short-term yield optimization.

Mantle is positioning itself as a core ecosystem for real-world asset adoption and sustainable onchain capital deployment. Within this context, mETH Protocol functions as an ETH-native asset that enables yield accrual while remaining liquid and composable across treasury and application use cases. This allows ETH capital to remain productive while aligning with Mantle’s focus on real usage and institutional-grade infrastructure.

This publication provides a baseline view of mETH holdings across the Mantle Ecosystem, supporting consistent onchain transparency over time.

#Onchain Snapshot: January 2026 All figures are derived from publicly verifiable onchain data. Treasury and user-associated balances are presented separately for transparency and do not imply deployment strategy, product usage, or behavioural intent.

Mantle Treasury

This section reflects mETH balances held across wallets designated as Mantle Treasury addresses.

  • mETH held onchain as of Jan. 31 (treasury-associated wallets): 35,629
  • Month-over-month change from Dec. 31: ↑ 851%

Mantle Ecosystem Onchain Activity

Ecosystem balances represent aggregated mETH held across onchain addresses interacting within the Mantle Ecosystem. Figures are not attributed to individual protocols or applications.

  • mETH held onchain as of Jan. 31 (user-associated wallets): 260,353
  • Month-over-month change (Dec. 31 > Jan. 31): ↑ 23.72%
  • Peak ecosystem balance during January: 260,353
  • Gross inflows: 65,803
  • Gross outflows: 15,880
  • Net flow: +49,923

About mETH Protocol

mETH Protocol is a vertically integrated liquid staking and restaking protocol incubated by Mantle, operating at the intersection of DeFi composability and institutional-grade ETH yield access. With a peak total value locked (TVL) of $2.19 billion achieved within its first year, mETH Protocol is supported by leading validator and custody partners, including Kraken Staked, P2P, OSL, and Copper. The protocol is embedded across over 40+ leading DeFi and exchange platforms such as Bybit, Ethena, and more, whilst incorporated in treasury frameworks for DAOs and corporates as a core liquidity and yield layer.