Ethereum Surges as Bybit Buys ETH

Ether Price Increases Amid Bybit’s Significant ETH Purchases

• Ether (ETH) price rose over 2.3% in the last 24 hours.
• The CoinDesk 20 Index increased by just 0.76% during the same period.
• Bybit moved $100 million USDT, purchasing 36,900 ETH over-the-counter.
• Bybit’s assets reportedly exceed $1.5 billion, with a cold wallet holding nearly $3 billion in USDT.
• The hacker holds an estimated 489,000 ETH valued at $1.34 billion, about 0.4% of total supply.

The ether price surge coincides with Bybit’s purchase of significant amounts of ETH following a hack involving North Korean group Lazarus, which now makes them the cryptocurrency’s 14th-largest holder.