Ahead of the weekly market opening in the U.S., Donald Trump’s family backed crypto firm World Liberty Fi (WLFI) has purchased nearly $3 million worth of Mantle (MNT) tokens while continuing their altcoins buying spree.
Data from onchain analytics platform Arkham Intelligence shows that World Liberty Fi has bought 3.54 million MNT tokens, worth $2.18 at the time from the Odos decentralized exchange. This marks WLFI’s another significant purchase as it previously also bought over 1.57 million MNT tokens one week ago.
Source: Arkham Intelligence
As per data, World Liberty Fi’s onchain portfolio is currently valued at $81.67 million, which is largely dominated by $16.37 million of ETH, $14.1 million of WBTC, $11 million of USDT, $10.28 million of stETH, $9.28 million in TRX and a number of other altcoins.
Following the purchase, MNT price pumped over 7% in the past 24 hours with it reaching a market cap of $2.83 billion. At the time of writing, MNT is trading at $0.8435 – as per Coinmarketcap data.
Source: Coinmarketcap
MNT Purchase Comes Ahead of Weekly Opening
The timing of WLFI’s MNT purchase ahead of the U.S. market open suggests a strategic move to capitalize on potential market momentum. It is often found that institutional and high-net-worth investors carry out such purchases before the weekly open to position themselves in the market for any upcoming price action.
Now it seems that WLFI is anticipating a bullish trend in the following weekend thus their early positioning in MNT could be aimed at maximizing short-term gains. Another key factor could be the increasing institutional interest in Mantle (MNT), a modular Ethereum layer-2 solution. Besides, recent developments in the Mantle ecosystem – such as upcoming governance proposals, liquidity expansions, or potential integrations – may have also contributed to WLFI’s aggressive accumulation strategy.
Furthermore, the steady increase in Bitcoin price – which is now breaking above $87,000 – suggest a recovery period in crypto market and this could play out well for altcoins like MNT. By purchasing ahead of the weekly open, WLFI could be looking to front-run potential positive market sentiment that could drive MNT’s price higher.
