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MEXC Transfers 12,652 stETH to Bybit Amidst Market Flurry
Generated by AI AgentCoin World
Friday, Feb 21, 2025 8:46 pm ET1min read
In a significant development, MEXC's hot wallet has transferred 12,652 stETH to Bybit within the last hour. This transaction comes amidst a backdrop of heightened activity in the cryptocurrency market, with several notable movements involving ETH and its derivatives.
Earlier today, Bitget transferred 40,000 ETH to Bybit as a loan, aiming to alleviate withdrawal pressure. This move follows a recent hack on Bybit, which resulted in the loss of 514,723 native ETH and various derivative ETH. The hacker has since transferred 490,000 ETH to 49 addresses, with 15,000 cmETH still awaiting unstaking.
The transfer of stETH from MEXC to Bybit raises questions about the potential reasons behind this transaction. It could be a strategic move to diversify assets or a response to the recent market volatility. As the situation unfolds, it will be crucial to monitor the impact of these transactions on the broader cryptocurrency market.
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