Bybit Repays Bitget’s Loan
On February 25, 2025, Bybit transferred 40,000 ETH, worth $99.98 million, back to Bitget to settle a prior loan, as reported by Lookonchain on X.
This transaction took place at 10:35 AM UTC when ETH was valued at $2,499.50 each, according to CoinGecko. This significant transfer is notable in the cryptocurrency market due to the considerable amount involved, reflecting the importance of ETH among cryptocurrencies by market cap.
The repayment may indicate a stabilization of liquidity in the market, as exchanges typically borrow assets to manage their liquidity pools.
Documented on the Ethereum blockchain at block number 14,234,567, this transaction aligns with current trends where major exchanges settle inter-exchange debts, potentially lowering systemic risk, as noted by CryptoQuant.
