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Bybit’s BTC liquidity bounced back to pre-hack levels within 30 days, according to Kaiko.
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A $1.5B hack in February triggered massive withdrawals and market disruption.
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Institutional market maker programs helped restore depth and reduce volatility.
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Altcoin liquidity is also recovering, now above 80% of pre-hack levels.
Quick Recovery After Massive Exploit
Just a month after losing $1.5 billion in ETH in a high-profile hack, Bybit has recovered its Bitcoin liquidity to pre-attack levels, Kaiko reported on Wednesday.
The February exploit, linked to the Lazarus Group, triggered over 350,000 user withdrawals and raised doubts about Bybit’s stability.
Liquidity Rebounds With Institutional Help
Despite macroeconomic turbulence, Bybit’s 1% market depth returned to its February highs, aided by the launch of Retail Price Improvement (RPI) orders. These institutional tools helped stabilize price swings and improved trading conditions for retail users.
Altcoins Lag Behind But Are Catching Up
While Bitcoin liquidity saw a 30% rebound, altcoins recovered more slowly amid a risk-off market environment. Still, liquidity for the top 30 altcoins has reached 80% of pre-hack levels.
Kaiko emphasized that Bybit outperformed competitors like HTX, Bithumb, and MEXC in liquidity recovery.
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