- WLFI bought 3.5M MNT worth ~$3M, MNT up by %6.4 for 24H
- This came after Mantle Network did a hard fork to integrate with EigenDA
- Over the past week, MNT grew by %22.7
WLFI bought 3.5M MNT worth ~$3M, while MNT is up %6.4 for 24H, but even without this purchase, MNT is up %22.7 over the past week, the key driver of which was likely the Mantle Network hard fork to integrate with EigenDA. This enabled Mantle Network to achieve much higher network speed and efficiency.
More About 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 amounting to 3.5M MNT worth ~$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.
Stay tuned for updates, be adaptive in the rapidly evolving financial and crypto landscape, and keep your strategy grounded, balanced, and beneficial.
