Bybit may have purchased a total of 106,498 ETH in the past day or so
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Odaily reported that according to on-chain analyst Yujin, an address (0x2E4...b77) that may be associated with Bybit or its affiliates received 34,743 ETH (USD 97.75 million) from Wintermute 20 minutes ago. They have likely accumulated 106,498 ETH (USD 294.93 million) in the past day or so, through purchases from Galaxy Digital, FalconX, and Wintermute. This address initially received 100 million USDT from a Bybit cold wallet and then transferred it to FalconX and Galaxy Digital, before starting to receive ETH. Galaxy Digital, FalconX, and Wintermute have all withdrawn ETH from various CEXs and transferred it to the 0x2E4...b77 address, which should have been purchased in the secondary market.
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Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
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