What to know:
- World Liberty Financial (WLFI), a name that drips with irony, wouldn’t you say? 🤔, backed by President Trump’s family – yes, *that* Trump – has acquired 3.54 million MNT tokens. For nearly $3 million, mind you! Increasing its total coin holdings to over $340 million. Oh, the decadence!
- The Mantle Network, which uses MNT as its native cryptocurrency, recently underwent a “major technological upgrade”. One shudders to think what minor upgrades might entail. Integrating EigenDA to enhance scalability. Because apparently, things weren’t scalable enough already. 🙄
- The upgrade, they say, ensures better compatibility with Ethereum‘s upcoming Pectra upgrade. As if Ethereum needed *more* upgrades. One can only imagine the existential dread of these blockchains.
World Liberty Financial (WLFI), a DeFi project backed by the Trump family, a fact that surely inspires confidence in the common man, has acquired a *substantial* amount of Mantle’s MNT token following last week’s ‘major’ technological upgrade. One wonders if they consulted with the engineers on this venture or simply flipped a coin. Perhaps that’s how fortunes are made these days. 🤷♂️
WLFI, in their infinite wisdom, purchased about 3.54 million MNT for nearly $3 million USDC – that’s real money, folks! – for an average purchase price of 84 cents. Data sources Lookonchain and Arkham Intelligence confirm this, so it *must* be true. Though, one does ponder the reliability of these “intelligence” agencies. Were they sober at the time? 🤔
This recent foray into the crypto abyss has increased WLFI’s coin holdings, including tokens like ETH, WBTC, TRX, LINK, AAVE, ENA, and others. A veritable cornucopia of digital treasures! To over $340 million, no less. However, the Trump family-backed outlet still faced a paper loss of $111 million as of writing. Ah, the sweet, sweet schadenfreude! One can almost hear the anguished cries of the investors. 🤣
MNT, you see, is the native cryptocurrency of the Mantle Network. Serving as a utility token for gas fees – because who doesn’t love paying fees? – and a governance token for the layer 2 ecosystem focused on scaling Ethereum. Scaling, scaling, ever scaling! Will this digital tower of Babel ever reach the heavens? One doubts it. 😏
The Mantle Mainnet hard fork, or backwards-incompatible upgrade, took effect on March 19, activating EigenDA on the network. EigenDA, a name that sounds suspiciously like a Scandinavian furniture store, is a secure, high-throughput, decentralized data availability service on Ethereum. One can only pray that it doesn’t require assembly. 🙏
The EigenDA integration, they claim, is said to boost Mantle Network’s scalability without hitting data rate limits. Reportedly resulting in a 15 MB/s throughput. In other words, the network can process more transactions per block. Which, in the grand scheme of things, probably means nothing to the average soul. Additionally, the upgrade has made the Mantle Network better compatible with Ethereum’s impending Pectra upgrade. Ah, compatibility! The bane of all existence. 🙄
MNT traded at 6% higher on the day at 83 cents at press time. CoinDesk and TradingView reported this monumental event. One can only assume champagne corks were popping across Wall Street. The sheer excitement is almost too much to bear! 🎉
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2025-03-24 09:32