Bybit, Bitget Deposit Addresses Rise 142% and 130% During Binance Halt

Bybit and Bitget recorded sharp increases in addresses depositing into wallets labeled as theirs during Binance’s withdrawal halt. The figures show more deposit activity at the rival exchanges, but do not establish that Binance customers moved funds to either one. From Oct. 29 at 6 p.m. ET (22:00 UTC) through Oct. 31 at 8 p.m. ET (Nov. 1 at 00:00 UTC), 31,539 distinct addresses deposited stablecoins to Bybit on Ethereum. That was up 142% from 13,038 addresses in a matching 50-hour period a week earlier. Deposits totaled $239.2 million, compared with $95.1 million.