Key Highlights:
- World Liberty Financial (WLFI), associated with President Trump’s family, has bought 3.54 million MNT tokens for nearly $3 million.
- This purchase raises WLFI’s total cryptocurrency portfolio to over $340 million.
- Mantle Network, utilizing MNT as its primary cryptocurrency, recently executed a significant upgrade by incorporating EigenDA to improve scalability.
- This upgrade enhances compatibility with Ethereum’s upcoming Pectra upgrade.
Earlier, World Liberty Financial acquired a sizable amount of Mantle’s MNT token as part of their portfolio expansion following last week’s major network upgrade. The firm spent nearly $3 million USDC, averaging 84 cents per token purchased, according to data sources like Lookonchain and Arkham Intelligence.
This latest transaction boosts WLFI’s holdings of various tokens, including ETH and WBTC, surpassing $340 million overall. However, they report a paper loss of $111 million at the time of the report.
MNT serves not only as a utility token for transaction fees but also as a governance token within Mantle Network, a layer 2 ecosystem focused on optimizing Ethereum’s performance.
The recent hard fork of the Mantle Mainnet, activated on March 19, brought EigenDA into service, aiming to increase scalability significantly, allowing for more transactions per block without overshooting data rate limits. MNT was trading at an approximate increase of 6% at the time of reporting.
