DUBAI, United Arab Emirates, April 24th, 2024, Chainwire
Bybit, one of the world’s top three crypto exchanges by volume, has enjoyed a monumental increase in its Bitcoin trading volume.
Since the launch of its spot trading platform in 2022, Bybit has witnessed unprecedented growth, particularly this year. Its market share has skyrocketed from 2% in 2023 to an impressive 9.3% in 2024, marking a significant leap from the previous year's 7.3%. This nearly 400% surge firmly establishes Bybit as a frontrunner in cryptocurrency trading, according to the latest Kaiko Research's quarterly report.
Bybit also grew its share of altcoin — all cryptos apart from Bitcoin — trading volume over the same period from 2.9% to 8% showing a 275% increase. No doubt fueled by the introduction of Bybit’s Unified Trading Account around the same time.
Bybit's products, which cater to new and seasoned investors alike, along with a 180% growth in institutional clients in the past year, have enabled it to capitalize on the market opportunities arising from shifts in the competitive landscape. The exchange has consistently focused on superior customer service, enhanced security measures, and continuous technological improvements.
“We are immensely proud to see Bybit’s strategy and commitment to user-centric innovation being reflected in our growing market share,” said Ben Zhou, co-founder and CEO. “This milestone is a testament to our sharp trading products and the loyalty of our users. As the industry evolves, Bybit remains at the forefront, ready to set new standards in the crypto trading world.”
As Bybit continues to grow, the exchange is committed to further innovating its services to meet the dynamic needs of the cryptocurrency community. With a strong trajectory and an unwavering commitment to excellence, Bybit is positioned to expand its market leadership.
About BybitBybit is one of the world’s top three crypto exchanges by trading volume with 25 million users. Established in 2018, it offers a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle (NYSE:ORCL) Red Bull Racing team.For more details about Bybit, please visit Bybit Press. For media inquiries, please contact: media@bybit.comFor more information, please visit: https://www.bybit.comFor updates, please follow: Bybit's Communities and Social MediaContactBybitmedia@bybit.com