On February 23rd, COINOTAG reported that an address linked to Bybit (0x2E4…b77) received a substantial transfer of 34,743 ETH from Wintermute just 20 minutes prior. This recent influx raises the total ETH accumulated by Bybit to an impressive 106,498 ETH within a 24-hour period, with acquisitions facilitated via Galaxy Digital, FalconX, and Wintermute. Initially, this address secured 100 million USDT from Bybit’s cold wallet, subsequently transitioning to ETH after engaging with FalconX and Galaxy Digital. The pattern of transfers suggests a strategic accumulation of ETH from multiple centralized exchanges (CEXs), reinforcing the notion that these prominent institutions are actively participating in the secondary market for ETH. This notable activity reflects ongoing interest in Ethereum as institutional demand evolves.
Source: https://en.coinotag.com/breakingnews/bybit-accumulates-106498-eth-key-transfers-from-wintermute-galaxy-digital-and-falconx/