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 worth of 84 cents, based on information sources Lookonchain and Arkham Intelligence.
The latest buy has elevated WLFI’s coin holdings, which embrace tokens like ETH, WBTC, TRX, LINK, AAVE, ENA, and others, to over $340 million. Nonetheless, 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 targeted on scaling Ethereum.
The Mantle Mainnet laborious fork, or backwards-incompatible improve, took impact on March 19, activating EigenDA on the community. EigenDA is a safe, high-throughput, decentralized information availability service on Ethereum.
The EigenDA integration is alleged to spice up Mantle Community’s scalability with out hitting information fee 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 suitable with Ethereum’s impending Pectra improve.
MNT traded at 6% greater on the day at 83 cents at press time, based on information sources CoinDesk and TradingView.