Bybit Marks Volume Growth, Expands Its Share in Crypto Trading

by

Since launching its spot trading platform in 2022, Bybit – a top-tier cryptocurrency exchange by trading volume – has experienced a significant surge in Bitcoin transactions. As a result, the exchange’s market presence has significantly expanded.

Based on Kaiko Research’s most recent quarterly report, Bybit’s market share has significantly increased from 2% in 2023 to 9.3% in 2024. This represents a substantial growth over the previous year’s 7.3%.

🎉 Announcing the addition of 7 new assets for Margin Trading, Crypto Loans, Flexible Savings, and Institutional Loans on Bybit! 🌐

— Bybit (@Bybit_Official) April 23, 2024

The expansion goes beyond just Bitcoin at Bybit. The trading volumes for altcoins have seen a remarkable increase of 275%, rising from a 2.9% share to an 8% share. This surge in growth occurred concurrently with the launch of Bybit’s Unified Trading Account, implying a potential connection to the exchange’s user-friendly advancements.

The platform’s commitment to catering to new and experienced investors is bringing substantial rewards, as indicated by a significant 180% growth in institutional clients within the past year. Bybit ascribes its achievement to its unwavering prioritization of customer service, security, and continuous technological advancements.

Ben Zhou, the co-founder and CEO of Bybit, expressed his excitement about the milestone, emphasizing the company’s dedication to pioneering advancements and the confidence of its customer base. “We remain devoted to leading the way in crypto trading,” Zhou stated.

Bybit strives to maintain its upward trend, consistently introducing new innovations to meet the ever-changing needs of the crypto market. The exchange looks forward to expanding its influence even further in the cryptocurrency world.

Read More

2024-04-24 16:22