According to EmberCN, two investor or team addresses that each vested 1.8 million PENDLE three years ago transferred a combined 3.6 million PENDLE (about $7.41 million) into Bybit over two days, source: EmberCN. One address, 0x6b4...CF0, moved 1.8 million PENDLE (about $3.83 million) earlier, and another address, 0xf82...aeb, transferred a similar amount about an hour ago, source: EmberCN. The two addresses likely belong to the same entity, according to EmberCN.

According to Onchain Lens, a whale deposited 665,035 HYPE valued at 14.54 million dollars into Bybit after initially buying 651,895 HYPE for 7.5 million dollars at 11.5 per token between Dec 3 and Dec 8, 2024, then staking the position, with wallet activity referenced via hyperbot.network and HyperEVMScan (source: Onchain Lens; hyperbot.network/trader/0xffe664491482ae9db6ba9e55c2ed1ea55c700a52; hyperevmscan.io/address/0xffe664491482ae9db6ba9e55c2ed1ea55c700a52). The exchange inflow to a destination identified as Bybit by Onchain Lens highlights a sizable tradable balance shift for HYPE on that venue that traders can verify directly through the linked address and transaction trail (source: Onchain Lens; hyperbot.network; hyperevmscan.io).

According to @OnchainLens, citing Nansen data, a wallet labeled as linked to the Pendle team deposited 1.8M PENDLE, worth about $3.84M, to Bybit after holding the tokens for three years. According to @OnchainLens, the wallet originally received these PENDLE from the Pendle Vesting Wallet for $266K, and the address is 0x6b4166974fcf730d7933656d26d52922ee285cf0, with all figures and labels sourced from Nansen.

According to @EmberCN, an investor or team-linked address transferred 1.8 million PENDLE (about $3.83 million) to Bybit roughly seven hours ago. The source states the address received these 1.8 million PENDLE from Pendle’s token vesting contract between April 2022 and April 2023, when they were valued around $266,000, and held them until now before moving them to the exchange.

According to @OnchainLens, a newly created wallet withdrew 3,300 ETH from Bybit to address 0x919cd69BdCC80b0A1077A0704bE98c5209bf9B03, marking an identifiable on-chain exchange outflow (source: @OnchainLens). According to @OnchainLens, the withdrawal was valued at $10.51 million, implying an average of roughly $3,185 per ETH based on the figures provided (source: @OnchainLens). According to @OnchainLens, the disclosed address enables traders to monitor subsequent transfers or potential redeposits related to this 3,300 ETH outflow for execution timing and liquidity tracking (source: @OnchainLens).

According to @lookonchain on Jan 19, 2026, a Galaxy Digital OTC wallet transferred 13,000 ETH (about $41.75M) and has deposited 6,500 ETH (about $20.89M) to Binance, Bybit, and OKX, which @lookonchain characterizes as a whale dumping event. According to @lookonchain, the wallet activity is traceable via the Arkham Intel address link shared by @lookonchain.

According to @OnchainDataNerd, Cumberland withdrew 1,900 ETH, valued at approximately $6.29 million, from Binance. source: @OnchainDataNerd on X, Jan 16, 2026. According to @OnchainDataNerd, the same wallet deposited 1.7 million AVNT, valued at approximately $507,000, to Bybit and Binance. source: @OnchainDataNerd on X, Jan 16, 2026. According to @OnchainDataNerd, the transfers were reported as occurring about two hours before the post, and the wallet address link was provided in the source. source: @OnchainDataNerd on X, Jan 16, 2026. Based on these on-chain flows reported by @OnchainDataNerd, traders can monitor ETH and AVNT order books and liquidity on Binance and Bybit for near-term changes in exchange activity. source: @OnchainDataNerd on X, Jan 16, 2026.

According to @OnchainLens, an ONDO multisig wallet deposited 25 million ONDO worth $10.33 million to multiple centralized exchanges on Jan 15, 2026. Source: Onchain Lens. According to @OnchainLens, 5 million ONDO valued at $2.05 million was transferred to a Bybit wallet attributed to Arthur Hayes, with the transfer path visible via Arkham Intelligence Explorer address 0x06F3E3008592614549c58f96f84a4248Ff465a35. Source: Onchain Lens; Arkham Intelligence Explorer. The 5 million ONDO sent to Bybit represents 20% of the total 25 million deposited, calculated from the figures reported. Source: Onchain Lens.

According to @EmberCN, 25 million ONDO worth about $10.19 million moved from an Ondo multisig wallet into Coinbase, OKX, Bybit, Gate, and KuCoin roughly six hours before the post. Source: @EmberCN (tweet dated Jan 15, 2026).

According to @justinsuntron, overall CEX spot trading volume declined about 20-30% in December versus November, signaling a cooler market backdrop, source: @justinsuntron on X citing @EmberCN on X. According to @justinsuntron, Binance, Bybit, and KuCoin ranked top three by spot volume, with HTX moving up to fourth place in December, source: @justinsuntron on X citing @EmberCN on X. According to @justinsuntron, HTX’s spot trading activity increased in December despite broader contraction, placing HTX at the forefront of second-tier exchanges, source: @justinsuntron on X citing @EmberCN on X. For traders, a fourth-place spot ranking indicates comparatively stronger order-book activity on HTX versus most peers in December, which can influence execution quality for listed pairs, source: @justinsuntron on X citing @EmberCN on X.

According to @EmberCN, BlockBeats’ December exchange ranking shows centralized exchange spot volume fell 35% month over month from November, while perpetual futures volume declined 26% month over month; source: BlockBeats report theblockbeats.info/news/60835; source: @EmberCN on X 2026-01-11 x.com/EmberCN/status/2010282146154545358. The top three venues by December spot volume were Binance, Bybit, and KuCoin, with HTX advancing to fourth place in spot trading share; source: BlockBeats report theblockbeats.info/news/60835; source: BlockBeatsAsia on X x.com/BlockBeatsAsia/status/2009546939105444086. Perp DEX activity also softened, with perpetual DEX volumes down 30% month over month and site traffic down 20% month over month in December; source: BlockBeats report theblockbeats.info/news/60835; source: BlockBeatsAsia on X x.com/BlockBeatsAsia/status/2009546939105444086.

According to @OnchainDataNerd, Flowdesk deposited 8.15 million ENA worth about 2 million US dollars into Binance and Bybit roughly one hour ago, with the deposit address shared via Arkham Intelligence explorer; source: @OnchainDataNerd; Arkham Intelligence. Exchange inflows increase immediately available sell-side liquidity and have been associated with short-term downside risk in token prices; source: CryptoQuant research on Exchange Flows. Large centralized-exchange inflows can precede higher intraday volatility, so traders can monitor ENA order book depth, spreads, funding rates, and open interest on Binance and Bybit to gauge near-term pressure; source: Kaiko research; Binance; Bybit. For confirmation and timing, track subsequent movements from the referenced address and net ENA exchange flows to see if the inflow converts into actual sell activity; source: Arkham Intelligence; CryptoQuant Exchange Netflow.

According to Lookonchain, two newly created wallets 0x387c02d749a1abc9763b7ca0a032036bb163ba4b and 0x5240cae15b3472ef3d974eb274dbbaf8a74d9fe0 withdrew 2.08 million APEX valued around USD 1.06 million from Bybit roughly 9 hours before the post, indicating a notable token outflow from the exchange, source: Lookonchain on X, Jan 3, 2026. Etherscan token transfer records for 0x387c02d749a1abc9763b7ca0a032036bb163ba4b and 0x5240cae15b3472ef3d974eb274dbbaf8a74d9fe0 show APEX inflows consistent with the reported magnitude and timing, source: Etherscan token transfer history for the two addresses. Large exchange outflows are commonly tracked by traders as potential signals of reduced immediate sell-side liquidity and possible accumulation phases in spot markets, source: Glassnode Insights research on exchange balances and asset flows. Traders can monitor Bybit APEX spot order book depth, perpetual funding, and any re-deposits from these two wallets to gauge near-term liquidity and directional intent, source: CryptoQuant research on exchange inflows and outflows as market indicators.

According to The Kobeissi Letter, Solana onchain spot volume reached USD 1.6 trillion in 2025, surpassing all offchain exchanges except Binance, which marks a major shift in venue market share for spot crypto trading, source: The Kobeissi Letter on X Jan 2 2026 citing JupiterExchange. According to The Kobeissi Letter, JupiterExchange data shows Solana onchain volumes rose from 1 percent of total volume in 2022 to 12 percent in 2025, indicating rapid growth in onchain market share, source: The Kobeissi Letter on X Jan 2 2026 citing JupiterExchange. According to The Kobeissi Letter, Solana onchain spot venues surpassed Bybit and other centralized exchanges by 2025 volume, positioning Solana onchain as second only to Binance for spot activity, source: The Kobeissi Letter on X Jan 2 2026 citing JupiterExchange. According to The Kobeissi Letter, this ranking makes Solana onchain a top destination to route spot orders and assess liquidity alongside Binance for trade execution, source: The Kobeissi Letter on X Jan 2 2026 citing JupiterExchange.

According to Onchain Lens, a wallet linked to Arthur Hayes deposited 6.27 million ENA, valued at approximately $1.28 million, into Bybit on December 31, 2025 (source: Onchain Lens). According to Arkham Intelligence’s address page for 0x229AfD6964a5EF12cbf5611a0F9a9c8B5297A86E, the wallet is labeled as associated with Arthur Hayes and shows the ENA transfer to a Bybit deposit address (source: Arkham Intelligence). According to CryptoQuant research on exchange flows, inflows to centralized exchanges increase immediately tradable supply and are monitored by traders for potential short-term liquidity shifts (source: CryptoQuant).

According to @OnchainDataNerd, roughly 7 hours ago a wallet, reported by the source as possibly linked to the Ethena team, withdrew 26.8k AAAVE (~$4.03M) and then deposited 17.9k AAVE (~$2.68M) to Binance and Bybit; address: https://t.co/ed7UCFOEd6. Source: @OnchainDataNerd. Exchange deposits of this magnitude are commonly interpreted by traders as potential sell-side supply that can pressure near-term AAVE price and increase volatility. Source: Glassnode research on exchange inflows and sell pressure (2023). The claimed Ethena association is unverified and is relayed as reported by the original on-chain analyst; traders should treat the label as tentative. Source: @OnchainDataNerd.

According to @OnchainLens, Blockchain Capital withdrew 1.13M UNI worth approximately $6.48M from Bybit, Binance, and OKX over the last 6 hours (source: @OnchainLens; data: Nansen). The receiving wallet now holds 1.92M UNI valued around $10.88M at the time of reporting (source: @OnchainLens; data: Nansen). The figures imply an average reference value of about $5.73 per UNI for the withdrawn amount, based on the values provided by the source (source: @OnchainLens; data: Nansen). The address cited is 0xb5E4d21240e9356caFc3a1261d10383f62DFc24e, which the source attributes to Blockchain Capital activity (source: @OnchainLens; data: Nansen).

According to @OnchainDataNerd, wallet 0xc97 deposited 8.4M ENA worth approximately $2.42M to Binance and Bybit about 7 hours ago, with those ENA originally transferred five months earlier; source: The Data Nerd (@OnchainDataNerd), Dec 10, 2025. Exchange inflows increase the amount of tokens available to trade on centralized exchanges and are commonly monitored for potential sell-side liquidity and short-term volatility; source: Binance Academy, on-chain data and exchange flows. Traders tracking ENA may watch spot order books and derivatives funding on Binance and Bybit around the deposited size for liquidity shifts during U.S. and Asia sessions; source: Binance Academy.

According to @lookonchain, wallet 0xb5E4 withdrew 823,368 UNI (about $4.72M) from Binance and Bybit in the past 5 hours and now holds 1.61M UNI (about $9.1M), with the holdings and transfers viewable via Arkham Intelligence’s address explorer. According to @lookonchain, these transactions are framed as institutional accumulation of UNI, and the cited Arkham Intelligence page is provided as the on-chain source for verification.

According to @0xRyze, funding rates transfer payments between longs and shorts to keep perpetual futures aligned with spot, with positive funding meaning longs pay and negative funding meaning shorts pay, source: @0xRyze. The funding payment is calculated as Position Size times Oracle Price times Funding Rate, source: @0xRyze. Payments occur hourly on Hyperliquid and every eight hours on major centralized exchanges including Binance and Bybit, source: @0xRyze. In the ETH example where spot is 3000 dollars and the perp trades at 3030 dollars, a simple estimate of the funding rate is perp minus spot divided by spot which is about one percent, so a long of ten ETH would pay 300 dollars to shorts, prompting longs to close and shorts to add until the perp converges to spot, source: @0xRyze. Conversely, when the perp trades below spot the funding turns negative so shorts pay longs, encouraging shorts to close and longs to open which pushes the perp back up toward spot, source: @0xRyze. Trading implications include holding costs where an hourly funding of zero point zero one percent equates to about zero point two four percent per day and seven point two percent per month, using extreme positive or negative funding as a leverage sentiment gauge that often precedes reversals, and running basis arbitrage by shorting high positive funding perps while buying spot to collect funding, source: @0xRyze. These dynamics explain why perps track spot and how funding can drive PnL and positioning across crypto markets including ETH, source: @0xRyze.