Bybit Sees $10 Million USDT Withdrawal as New Address Purchases 3,655.6 ETH at $2,735

The post Bybit Sees $10 Million USDT Withdrawal as New Address Purchases 3,655.6 ETH at $2,735 appeared on BitcoinEthereumNews.com.

On February 22, a significant transaction was reported by COINOTAG News. According to data from EmberCN, a newly created address withdrew 10 million USDT from the cryptocurrency exchange Bybit. Following this substantial withdrawal, the address executed an on-chain acquisition of 3,655.6 ETH, with an average purchase price standing at $2,735 per Ethereum. Shortly after the transaction, the acquired ETH was immediately transferred back to the Bybit exchange. This sequence of events underscores a strategic maneuver within the crypto market, illustrating the ongoing activities of high-value investors and their interactions with centralized exchanges. Such transactions may indicate liquidity adjustments and are pivotal in analyzing market trends and investor behaviors. Source: https://en.coinotag.com/breakingnews/bybit-sees-10-million-usdt-withdrawal-as-new-address-purchases-3655-6-eth-at-2735/

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Filed under: News - @ February 22, 2025 12:18 pm