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Bitget Turns Net Inflow on Third Day of Open Withdrawals

Bitget has returned to net capital inflow on the third day of open withdrawals, with $9.47 million flowing in over a full day, on-chain analyst Yu Chen reported. Roughly 28,900 ETH entered the exchange since withdrawals opened on Monday afternoon versus about 7,266 ETH leaving. The largest depositor, an address starting 0x714, pulled 20,000 ETH worth about $54.66 million from Lido to join Bitget’s ETH pool at 11.27% APR.

Original source

AI take

The return to net inflow suggests the initial withdrawal wave has stabilized, but the composition matters: a single large depositor moving 20,000 ETH from Lido into Bitget's ETH pool is chasing a headline APR, not necessarily expressing durable confidence in the exchange. That kind of yield-driven, concentrated deposit can reverse quickly if rates normalize or sentiment shifts. Whether inflows remain broad-based after this address's capital is absorbed — or whether the headline inflow figure is effectively one whale — is the open question.

Generated by AI for reference only.

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