Trump’s WLFI project made a major purchase of MNT tokens in the past few hours.
The project has invested $343 million funds in accumulating several altcoins.
As another week dawns in the crypto sector, modest bullish signs have sparked. Bitcoin, after intense bull-bear combat over the weekend, has shown a mild price increase to $86.9 in the past few hours. Meanwhile, with FED rates staying unchanged, the bulls are scourging for positive momentum.
However, a recent activity by Donald Trump’s World Liberty Financial has caught market attention. In the past few hours, the WLFI project has made significant altcoin purchases, increasing its investment to approximately $343 million. The present day’s chief purchase was the Mantletoken.
According to Arkham Intelligence reports, the project spent $3 million to purchase 3.539 million Mantle tokens. Furthermore, WLFI also bought 1 million MFG tokens 2 days ago. Its most recent market activity included selling 3 million USDT tokens to a wallet named Odos.
These altcoin purchases have caused huge speculations among community members on the strategy behind which WLFI is working. The DeFi project currently holds 7.933K ETH, 162.69 WBTC, and 5.99M MNT. Its other altcoin holdings include Tron, STETH, USDT, and MOVE.
Why is WLFI Accumulating Altcoins?
Over the past few months, the World Liberty Financial project, as aforementioned, has made significant purchases. In March particularly, it showed huge accumulation activity, which included tokens such as SEI, and recently partnered with SUI.
During the several market crashes that occurred, WLFI suffered losses due to its ETH purchases. However, this has not caused the DeFi project to abandon its token accumulation activities over the past month.
Furthermore, Donald Trump’s project also plans to set up its very own strategic token reserve. The partnership with Sui Network was for the inclusion in this token reserve. Particular community members speculate that the altcoin accumulation is WLFI’s move toward this token reserve.
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