Bybit Acquires 71,755 ETH Through OTC Purchase Worth $197 Million

In Brief:

Bybit reportedly acquired 71,755 ETH via OTC transactions.

The purchase is valued at approximately $197 million.

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According to on-chain monitoring by Lookonchain, crypto exchange Bybit has allegedly executed an over-the-counter (OTC) purchase of 71,755 ETH. This acquisition, worth around $197 million, comes in the wake of the recent security breach that resulted in significant fund losses.

The move suggests Bybit may be replenishing reserves, stabilizing liquidity, or making strategic investments in Ethereum. While details on the transaction remain undisclosed, the purchase indicates continued confidence in ETH as a key asset.

Market analysts are closely watching how this affects Ethereum’s price action and Bybit’s operational recovery.

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