[Updated] Brevan Howard Digital had transferred all of the remaining 2.2M $MNT ($876K) from main address 0x79c to middle address 0x506, of which:

• 750K $MNT was deposited to Bybit via Wintermute Trading at $0.397 ($298K) on October 6, 16:07 PM (UTC). Overall, a total of 2.215M $MNT has been deposited to Bybit at $0.4 on average ($885K) over the past 32 hours
• 1.454M $MNT ($574K) is still kept in address 0x506 and may be transferred to Wintermute Trading soon
• estimated loss from $MNT: $426K (more details in previous signal below)
• Brevan Howard Digital address: 0x79c775e38a231d2db4c9e575b2a6f39bf7d9acb6
• Wintermute Trading address: 0xe401a6a38024d8f5ab88f1b08cad476ccaca45e8
• middle address: 0x50600f6afc73c435e73ac1187da0ddb8920f5b19

Fig 1. Brevan Howard Digital has deposited 2.215M $MNT to Bybit via Wintermute at $0.4 on average ($885K) over the past 32 hours.

[Previous] Brevan Howard Digital deposited a total of 1.465M $MNT ($588K) to Bybit via Wintermute Trading at $0.401 on average ($587K) between October 5, 18:09 PM, and October 6, 2:50:23 AM (UTC):

• $MNT price dropped around 2% right after the first deposit to Bybit, from $0.404 to $0.398 as of this analysis, while the second deposit was made just now on October 6, 2:51 AM (UTC)

• current holding: 2.2M $MNT ($876K)

• Brevan Howard Digital address: 0x79c775e38a231d2db4c9e575b2a6f39bf7d9acb6
• Wintermute Trading address: 0xe401a6a38024d8f5ab88f1b08cad476ccaca45e8
• middle address: 0x50600f6afc73c435e73ac1187da0ddb8920f5b19

Notably, Brevan Howard Digital may currently have an estimated loss of $427K from $MNT:

• received 3.67M $MNT (then worth $1.89M) from Amber Group on August 4, 2023. Amber Group, in turn, accumulated a total of 14.085M $MNT from Bybit at $0.525 on average ($7.4M) between July 18, 2023 and August 3, 2023
• has deposited only 1.465M $MNT ($587K) to Bybit at $0.401 ($587K) as mentioned above. Estimated realized loss: $167K
• still holds 2.2M $MNT ($876K). Estimated unrealized loss: $260K

Furthermore, Mantle: Temporary Conversion Treasury also transferred 408M MNT ($162M) to BitDAO: Bybit Flexible address on October 6, 3:49 AM (UTC) just now:

• the purpose of the transfer is probably to facilitate the BitDAO ($BIT) token conversion and rebranding to Mantle ($MNT) process supported by Bybit (more details here)

• txid: 0xa0946e7dd764823006c41337dd0b71ebeaffd6652dff00be3b98bfe770daa084
• Mantle: Temporary Conversion Treasury: 0x9deaa906829d8cf05ff1f24663ad553cb90bf241
• BitDAO: Bybit Flexible: 0x5a076b2d0941f2bc9b49d05d3a1ff9c7acdc5e78

Fig 2. Brevan Howard Digital deposited 745.011K $MNT to Bybit at $0.404 ($301K) recently.

Fig 3. Brevan Howard Digital's overall $MNT trading history.