Bybit Sees Major MNT Inflow as Mantle Faces Critical Technical Test
The Mantle (MNT) token is navigating turbulent waters as of early 2026, with its price action painting a concerning technical picture. Over the past week, MNT has registered an 8% decline, pushing the asset toward a decisive support level. This downturn has effectively sidelined many market participants, casting a shadow over near-term bullish forecasts. The focal point for traders is the $0.885 level, identified as the neckline of a potential bearish head-and-shoulders chart pattern forming on the higher timeframes. A confirmed and sustained breakdown below this critical juncture could, according to technical analysis, catalyze a significant downward move. Projections suggest such a breach might lead to a decline of approximately 30%, targeting price zones last seen in August, around $0.685. This would represent a substantial retracement and test the resilience of longer-term holders. Amplifying the bearish sentiment are on-chain movements from large holders, often interpreted as precursors to increased selling pressure. Notably, venture capital firm Dragonfly Capital executed a substantial transfer involving 7.85 million MNT tokens, valued at roughly $6.95 million, to the cryptocurrency exchange Bybit. Transactions of this magnitude from institutional wallets to centralized exchanges are typically viewed by the market as signals of impending liquidation or distribution. The choice of Bybit as the destination is significant, as the platform is a major liquidity hub for derivatives and spot trading, particularly in the altcoin sector. This move suggests that sophisticated capital is positioning for potential volatility or seeking an exit, adding fundamental weight to the deteriorating technical structure. The convergence of these factors—the ominous chart pattern at a breaking point and the large institutional deposit to Bybit—creates a high-stakes environment for MNT. The coming days will be crucial in determining whether the $0.885 support holds, potentially forming a base for a recovery, or fractures, validating the bearish pattern and likely triggering a wave of stop-loss orders and further selling. Market participants are advised to monitor trading volume on Bybit and other major exchanges closely, as a spike in volume on a break below support would confirm the bearish thesis. While the broader cryptocurrency market's sentiment will also play a role, MNT currently faces unique headwinds that could decouple its performance from any general market uptrend in the short term.
Mantle Price Prediction: Is the MNT Price on a Crash Course With 8% Weekly Drop?
Market participants are sidelining MNT, dampening bullish Mantle Price predictions with an 8% weekly drop. The altcoin approaches a critical juncture at the $0.885 neckline of a bearish head-and-shoulders pattern. A breach below this level could trigger a 30% decline to August lows near $0.685.
Dragonfly Capital's recent transfer of $6.95 million in MNT to Bybit signals potential liquidation moves by institutional holders. Despite these bearish technicals, Mantle's fundamentals remain strong as the top-performing layer-2 network in 2025, driven by its tokenization-as-a-service offerings.
The protocol's bridge between traditional and decentralized finance positions it as a potential leader in the next phase of on-chain finance adoption, particularly as regulatory clarity improves. The coming days will determine whether the neckline support holds or gives way to deeper losses.
Bybit’s $1.4B Hack Highlights Concentrated Crypto Losses Amid Rising Scams
Cryptocurrency thefts remain a persistent threat, with Bybit’s $1.4 billion hack underscoring the risks of centralized exchange vulnerabilities. PeckShield reported 26 major exploits in a single month, including a $50 million address-poisoning scam and a $27.3 million multi-signature wallet breach. Attackers exploit human error—using look-alike wallet addresses where only the first and last characters match—to siphon funds undetected.
Despite a marginal decline in total stolen funds compared to 2024, Chainalysis data reveals alarming concentration: the top 10 incidents accounted for $2.2 billion in losses. The industry’s battle against cybercrime is far from over, with mid-tier exploits proliferating even as security protocols advance. Vigilance remains non-negotiable for users navigating an ecosystem where sophistication meets opportunism.
