World Liberty Monetary (WLFI), a DeFi challenge backed by President Donald Trump’s household, has acquired substantial quantities of Mantle’s MNT token following final week’s main technological improve of the community.
WLFI bought about 3.54 million MNT for almost $3 million USDC for a median buy value of 84 cents, based on knowledge sources Lookonchain and Arkham Intelligence.
The current buy has elevated WLFI’s coin holdings, which embody tokens like ETH, WBTC, TRX, LINK, AAVE, ENA, and others, to over $340 million. Nevertheless, the Trump family-backed outlet nonetheless confronted a paper lack of $111 million as of writing.
MNT is the native cryptocurrency of the Mantle Community, serving as a utility token for fuel charges and a governance token for the layer 2 ecosystem centered on scaling Ethereum.
The Mantle Mainnet onerous fork, or backwards-incompatible improve, took impact on March 19, activating EigenDA on the community. EigenDA is a safe, high-throughput, decentralized knowledge availability service on Ethereum.
The EigenDA integration is claimed to spice up Mantle Community’s scalability with out hitting knowledge charge limits, reportedly leading to a 15 MB/s throughput. In different phrases, the community can course of extra transactions per block. Moreover, the improve has made the Mantle Community higher appropriate with Ethereum’s impending Pectra improve.
MNT traded at 6% larger on the day at 83 cents at press time, based on knowledge sources CoinDesk and TradingView.