Image Credit: Bybit
Bybit’s tracked-wallet flows have shifted sharply across recent DefiLlama snapshots, showing how quickly rolling exchange-reserve figures can change.
A snapshot reviewed earlier showed about $1.69 billion in seven-day net outflows. The latest DefiLlama reading retrieved for this story instead showed roughly $185 million in seven-day net outflows and about $277 million over one month, after approximately $1.44 billion flowed into tracked addresses over the latest 24-hour period.
The figures measure changes involving wallets DefiLlama attributes to Bybit. They do not establish equivalent customer deposits or withdrawals because exchange-controlled assets can move between addresses while remaining under the platform’s custody.
Bybit Clean Assets Stand Near $14.50B
DefiLlama placed Bybit’s clean assets at roughly $14.50 billion in the latest retrieved snapshot, with total tracked assets near $15.10 billion. Bybit separately publishes proof-of-reserves reports comparing wallet holdings with reported customer liabilities for covered assets.
Its July report said reserve ratios for major assets including BTC, ETH, USDT and USDC remained above 100%. That disclosure serves a different purpose from DefiLlama’s continuous tracking of known exchange addresses.
DefiLlama Flows Separate Balance Changes From Price Moves
DefiLlama calculates USD inflows from changes in individual token balances and their prices rather than simply comparing the total dollar value of reserves between two points in time.
The methodology is designed to prevent token-price changes alone from appearing as deposits or withdrawals. If an asset falls in price while its token balance remains unchanged, DefiLlama records no USD outflow from that price move alone.
The metric still cannot determine why individual exchange-wallet transfers occurred. Internal custody movements, new wallet addresses and changes in address attribution can alter the observed flow without representing customers removing assets.
The confirmed data therefore shows movement in wallets attributed to Bybit, not a corresponding amount of verified customer withdrawals.
