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

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.