Bybit Receives $4 Billion in Total Inflows in 24 Hours

Bybit, a cryptocurrency exchange, saw over $4 billion transferred into its platform within a 24-hour period. This included 63,168.08 units of Ethereum (ETH), $3.15 billion worth of Tether (USDT), $173 million of USD Coin (USDC), and $525 million of Celo Dollar (CUSD). Much of this movement consisted of transfers from Bybit's offline storage (cold wallets) to online, readily accessible storage (hot wallets). This suggests that the funds were made available for customer withdrawals or to facilitate loans from outside sources.