Donald Trump’s World Liberty Financial has again sent shockwaves across the broader market with its recent token accumulation saga this Monday. The U.S. President-backed firm accumulated nearly $3M worth of MNT tokens, bringing its total Mantle Network holdings to a whopping 6 million tokens. Notably, this accumulation follows a major mainnet hard fork upgrade on the crypto’s ecosystem.
Trump’s World Liberty Financial Stacks Up MNT Amid Hard Fork Upgrade
The latest data from Arkham Intelligence suggests that World Liberty Financial swapped 3 million USDC for 3.54 million Mantle Network coins. With this recent accumulation, the firm’s MNT holdings totaled 5.99 million tokens at an average price of $0.78.
Intriguingly, CoinGape found that the firm also bagged 725.568K coins a week ago, per Arkham data. Another transaction from the same time period surfaced, showcasing 884.726K coin accumulation for the same crypto.
Overall, WLFI accumulations occur in tandem with the completion of Mantle Network’s mainnet hard fork upgrade, which sparked significant investor curiosity.
Mantle Network Mainnet Hard Fork Upgrade: What’s The Buzz?
Last week, the crypto’s community revealed in an X post that the new hard fork upgrade is complete. This upgrade brings new technical updates such as EigenDA, support for RIP-7212, and more to the ecosystem.
EigenDA stands as a secure, high-output, decentralized data availability service on Ethereum. Overall, this update garnered significant optimism across the industry, whereas World Liberty Financial’s token accumulation added to the market buzz.
Mantle Network Price Shoots Up 8%
As of press time, MNT price witnessed an 8% pump in value, closing in at $0.8449. The crypto bottomed and peaked at $0.7828 and $0.8467 in the past 24 hours. Intriguingly, the rising price action amid the optimistic developments such as WLFI’s accumulations and the network upgrade ignited investor bullishness on future prospects.
On the other hand, Coinglass data continued solidifying this bullishness, underscoring strong market demand for the asset. Mantle Network’s futures OI soared 17% intraday, reaching $25.42 million. On the other hand, the derivatives volume also witnessed a staggering 582% surge to $20.96 million. As a result, crypto market watchers weigh substantial market optimism on the token’s upcoming movements.
Also, it’s worth mentioning that a Mantle Network price prediction by CoinGape revealed that the crypto’s technical chart on the weekly time frame illustrates a bullish engulfing pattern. This pattern suggests a strong momentum favoring buyers, such as Trump’s organization.
Some other tokens held by World Liberty Financial include ETH, TRX, MOVE, AVAX, etc. Intriguingly, CoinGape previously reported that WLFI completed its token sale, raising a total of $550 million, another landmark achievement in the industry.
The post Why Trump’s World Liberty Financial Stacked 6 Million MNT? appeared first on CoinGape.
