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Bybit and Bitget see big stablecoin deposit spikes during Binance withdrawal freeze

Market News
03 Nov 2026, 12:55 WIB
Tokenpost
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Neutral
Bybit and Bitget see big stablecoin deposit spikes during Binance withdrawal freeze

During Binance's withdrawal halt following a $6.3 billion hot wallet hack, rival exchanges Bybit and Bitget experienced sharp increases in stablecoin deposits. From Oct. 29 to Oct. 31, Bybit saw a 142% rise in distinct Ethereum stablecoin deposit addresses, totaling $239.2 million, while Bitget recorded a 130% increase in Tether deposits on TRON, reaching $87 million. However, these figures count addresses, not verified customers, and do not confirm Binance users moved funds or stayed at the rivals. Market volatility and multiple address use may also influence the data, so the deposit surge does not necessarily indicate lasting customer migration or market share gains.

Following the Binance withdrawal halt and the surge in deposits at rival exchanges Bybit and Bitget, Binance Coin (BNB) on Pluang trades at Rp12.712.397 as of Nov 03, 2026 18:03 WIB. The token shows a slight decline of 0.53% over the past day, with a market cap of Rp1.660,04 trillion and a 24-hour trading volume of Rp23,93 trillion. Pluang users currently favor buying BNB with a 67% buy order activity and hold it typically for 90 days.

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