mETH Protocol (COOK) Price Prediction

Deep Dive

1. Institutional mETH Adoption (Bullish Impact)

Overview: mETH Protocol’s partnership with Republic Technologies marked the first time a public company added a liquid staking token (mETH) to its balance sheet. This sets a precedent for ETH-based corporate treasuries, with mETH acting as yield-bearing collateral. The token is also slated for inclusion in MI4, a $1B-target index fund backed by Mantle Treasury.

What this means: Corporate demand for mETH could reduce circulating supply, creating upward pressure on COOK as governance token holders benefit from protocol fee accruals. Historical precedent: mETH’s TVL surged 119% to $2.19B within two months of the Republic deal (mETH Protocol).

2. Token Unlock Overhang (Bearish Impact)

Overview: Only 18.3% of COOK’s 5B total supply is circulating. While the project hasn’t disclosed a detailed vesting schedule, typical DeFi governance tokens unlock linearly over 2-4 years. At current prices, $6.6B in theoretical supply hangs over the market.

What this means: Even modest sell pressure from team/advisor unlocks could overwhelm COOK’s $15.5M market cap. The token’s 90-day volatility (79.77%) suggests traders price in supply risk, though recent price action (+51.95% in 30d) shows speculative interest.

3. cmETH Restaking Growth (Bullish Impact)

Overview: mETH Protocol’s cmETH – a restaking token – saw supply spike 750% on HyperEVM between April-June 2025 via partnerships. Bybit’s cmETH holdings also grew 25% to 81K tokens, reflecting demand for EigenLayer-style rewards.

What this means: Restaking activity directly feeds protocol revenue (fees on cmETH conversions/withdrawals), which could fund COOK buybacks or staking rewards. The 16%+ APR campaigns (mETH Protocol) suggest aggressive user acquisition that may boost TVL.

Conclusion

COOK’s medium-term trajectory likely hinges on whether institutional mETH adoption outpaces token dilution. Watch the cmETH/MI4 integration timeline – successful deployment could position COOK as a proxy for Ethereum’s institutional yield economy. Can Mantle Banking’s fiat integrations (planned 2025) offset unlock risks?