Key Notes
- WLFI acquired $3 million of MNT tokens, bringing its total holdings to 5.99 million tokens.
- The fund's average entry price is $0.834, with the position currently valued at $5.05 million, yielding a slight unrealized profit.
- MNT surged 8% to $0.84 on Monday, with a 7.5% increase in market cap.
Mantle MNT $0.84 24h volatility: 6.6% Market cap: $2.82 B Vol. 24h: $202.44 M has seen a notable 8% price increase, currently trading around $0.84, following a $3 million accumulation by Trump family-backed World Liberty Financial (WLFI).
Trump’s World Liberty( @worldlibertyfi ) spent 3M $USDT to buy 3.54M $MNT again ~30 mins ago. #WorldLiberty has spent $346M on 11 different tokens, with a total loss of $111M. https://t.co/IzbZt1afkV pic.twitter.com/pxip4mxbiP
— Lookonchain (@lookonchain) March 24, 2025
Earlier on Monday, WLFI acquired 3.539 million MNT tokens for around $3 million. The latest shopping has brought the fund’s total MNT holdings to 5.99 million tokens, with an average entry price of $0.834. The position is currently worth $5.05 million, giving WLFI a slight unrealized profit on its MNT investment.
Analysts are connecting this major accumulation to Mantle’s upcoming Index Fund and Mantle Banking services. These initiatives, aimed to attract institutional capital, are potentially boosting the token’s demand.
WLFI has been aggressively purchasing crypto assets despite posting a $111 million loss from its $343 million investment across 11 different digital assets. Since February’s market correction, the fund has accumulated $28.6 million worth of crypto across ETH, WBTC, MOVE, SEI, AVAX, and MNT.
MNT Price Outlook
Soon after WLFI’s purchase, MNT has seen a 7.5% uptick in its market cap, currently sitting around $2.84. The token’s 24-hour trading volume has also surged by 76%, currently at $147 million.
This surge comes after the token completed a deep 0.786 Fibonacci retracement, a technical level often viewed as a solid entry point for traders.
On the daily MNT price chart, the RSI bounced off the bearish control zone and is now sitting at 56, indicating moderate bullish momentum. Historically, MNT tends to oscillate between the bullish and bearish control zones, making the RSI a reliable indicator for its price movements.
Source: TradingView
Moreover, the MACD line has crossed above the signal line, indicating a potential bullish trend reversal. The histogram is also turning green. This reflects growing upward momentum.
Source: TradingView
Meanwhile, the token is approaching the upper Bollinger Band, signaling increased volatility. A breakout above this level could trigger further upside, with the resistance around $0.90. However, before that, a crucial level lies around the 50 Exponential Moving Average at $0.8822.
Mantle has recently launched a $1 million MNT rewards program to boost its user engagement and total value locked (TVL). The campaign encourages users to interact with Mantle-based dApps, driving activity on the network.
nextDisclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
