World Liberty Financial (WLFI), a defi project supported by President Donald Trump’s family, has acquired significant amounts of Mantles MNT -Token after last week’s major technological upgrade of the network.

WLFI bought approx. 3.54 million MNT for nearly $ 3 million USDC at an average purchase price of 84 cents, according to data sources Lookonchain and Arkham Intelligence.

The recent purchase has increased WLFI’s coin stocks that include tokens such as ETH, WBTC, TRX, LINK, Aave, ETA and others, to over $ 340 million. However, the Trump family-backed outlets still faced a paper loss of $ 111 million after writing.

MNT is the original cryptocurrency of the mantle network, which serves as a tool token for gas fees and a control token by layer 2 ecosystem focused on scaling Ethereum.

Mantel Mainnet Hard fork, or Backward-Compatible Upgrade, came into force on March 19 and activated Eigenda on the network. Eigenda is a safe, high-flow, decentralized data availability service at Ethereum.

The Eigenda integration is said to increase mantle networks scalability without hitting data rate limits, which reportedly results in a 15 MB/s flow. In other words, the network can process more transactions per year. Block. In addition, the upgrade has made the mantle network better compatible with Ethereum’s impending pectra upgrade.

MNT traded with 6% higher on the day at 83 cents at the press time, according to data sources Coindesk and TradingView.