Brevan Howard Digital has come to the fore in the recent activity in the cryptocurrency world. Lido Finance (LDO) has emerged as a key player by making strategic moves with the altcoin. These transactions raised eyebrows in the crypto community and sparked debate about the company’s intentions. Here are the details…
Brevan Howard Digital sells altcoins
Brevan Howard Digital, a leading crypto asset space, is reportedly actively engaged in LDO transactions. The company is alleged to have deposited a significant amount of LDO to central exchanges through two different addresses. Address 0x4c3, reportedly linked to Brevan Howard Digital, deposited a significant amount of money. Since September 6, he has deposited 3.25 million LDOs on Binance at a price of $1.52, totaling approximately $4.95 million.
🚨 VCs appear to be taking different actions with $LDO lately:
1. Brevan Howard Digital further deposited 250K $LDO to #coinbase Prime at $1,488 ($372K) 18hrs ago.
– Total deposit to CEX since Sep 5: 3M $LDO at $1.52 on avg ($4.56M)2. Amber Group allegedly accumulated 1.175M… pic.twitter.com/OodfNtiuAV
— Spot On Chain (@spotonchain) September 28, 2023
Additionally, it appears that Brevan Howard Digital may have deposited a total of 6.5 million LDO (equivalent to $9.89 million) to Binance and Coinbase Prime at a price of $1.52 since September 5 through two addresses, 0x7d6 and 0x4c3. In the last 24 hours, some of this LDO, specifically 500,000 LDO, was in movement. It was sent from these addresses to Binance and Coinbase Prime for an average price of $1,538. As a result, the total was quoted as $769,000.
LDO assets of Brevan Howard Digital
Brevan Howard Digital’s recent moves have raised curiosity about the company’s overall LDO assets and financial health. Between July 15, 2021 and July 23, 2023, the company raised 23.8 million LDO from various sources, including Copper, Binance, and decentralized exchanges, at an average price of $1.85, reaching a staggering $44.2 million. Currently, Brevan Howard Digital holds 8 million LDOs worth approximately $12.9 million. But this also means an estimated unrealized loss of $1.87 million.
The company’s history includes selling a total of 15.8 thousand ETH since August 15, 2021, at an average price of $2,237 through decentralized exchanges and multiple platforms, including OKX, Binance, and Coinbase Prime. These altcoin transactions ended with an estimated realized gain of $6.07 million for the company. Brevan Howard Digital isn’t the only venture capital firm making waves in the LDO market. According to ChainCatcher and Spot On Chain, other major players have taken significant actions regarding LDO.
Result: Millions are transferred to stock markets
As a result, just 18 hours ago Brevan Howard Digital also sent altcoins to Coinbase Prime. Because he deposited 250,000 LDO (about $372,000) at an average price of $1,488. This follows a pattern of depositing a total of 3 million LDO (about $4.56 million) on CEX since September 5 at an average price of $1.52. Meanwhile, Amber Group is actively withdrawing LDO from Binance. cryptokoin.com As we reported, an address starting with 0x011 has recently been activated. He withdrew 1.175 million LDOs through this address, equivalent to $1.75 million, at an average price of $1.491. Amber Group has made LDO moves at an average price of $1,588 since August 18. It has since attracted a total of 3.27 million LDOs worth approximately $5.2 million.
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