Following a major Ethereum hack that drained a large amount of ETH from Bybit’s wallet the exchange’s ETH reserves have recovered.
According to data, Bybit registered a sharp fall of its ETH reserves from 443,691 ETH before the hack, and at 39,692 ETH within an hour.
The exchange has now managed to successfully recover the loss with the help of multiple loans such as asset purchases, loans, whale deposits.
It has now managed to raise 446,870 ETH ($1.23 billion).
Moreover, Ethereum netflow data also reflects a similar recovery pattern, suggesting that Bybit is actively replenishing reserves.
Analysts believe the exchange is working toward stabilizing its ETH holdings to meet withdrawal demands and restore confidence among users.
Source: CryptoQuant
Funding Rate Decline and Market Reactions
The Bybit hack has raised concerns about Ethereum’s price movement, particularly as funding rates show a downward trend.
The funding rate, which measures the cost of holding
We współpracy z: https://www.thecoinrepublic.com/2025/02/24/ethereum-faces-pressure-as-hack-slashes-reserves-next-price-level/
