WLFI bought 3.5M MNT worth ~$3M

MNT is up %6.4 for 24H, but even without this purchase, MNT is up %22.7 over the past week

World Liberty Financial (WLFI) bought 3.5M MNT for ~3M, while MNT is up 6.4% for 24H. However, even without this purchase, MNT is up 22.7% over the past week, which is likely driven by the Mantle Network hard fork to integrate with EigenDA. This enabled Mantle Network to achieve much higher network speed and efficiency.

A Deeper Look at the MNT Growth and the Mantle Network & EigenDA Integration

Let's start with the main player, namely EigenDA, which is a data availability layer on Ethereum developed as part of EigenLayer. It allows for a significant increase in transaction processing speeds through increased network bandwidth, around 15MB/s.

So, Mantle Network had to do a hard fork to integrate with EigenDA, but it was probably worth it, or at least it seems so at the moment. In the last week, the native token MNT – which is used as a gas, also for voting in DAO and staking – has grown by 22.7%.

But of course, a huge contribution to this growth was the impressive purchase from World Liberty Financial (WLFI), namely 3.5M MNT for ~$3M, and over the last 24 hours – we've seen a 6.4% increase.

Most recently, the price was $0.84, but at the time of writing met a little resistance and was down to $0.83.

Conclusion

From a technical perspective, this is a critical infrastructure improvement, especially from a strategic perspective. From an asset standpoint, the result is also good, showing strong growth and sticking to one of the key players, but whether the price will hold up remains to be seen, especially in the near term.