DUBAI, UAE, Dec. 3, 2024 /CNW/ -- Bybit, the world's second-largest cryptocurrency exchange by trading volume, proudly marks its 6th anniversary, celebrating a journey of innovation, resilience, and growth that has redefined the cryptocurrency landscape.
Bybit's meteoric rise in the cryptocurrency world is reflected in its remarkable achievements. Over the past year, Bybit's registered user base has tripled from 20 million during its 5th anniversary to nearly 60 million as it celebrates its 6th anniversary, a testament to the platform's ability to attract and retain a rapidly growing global audience. Bybit now averages $33 billion in daily trading volume over the past quarter, , with an all-time-high trading volume of $100 billion recorded in August 2024. This growth has catapulted Bybit to the second spot in spot market share, rising from 7th place last year with 3.2% to 8.51% in 2024. Bybit has also seen significant progress in the derivatives market, increasing its share from 6% to 15%, a testament to its robust offerings and strategic advancements.
Reflecting on Bybit's incredible transformational journey, Ben Zhou, Co-founder and CEO of Bybit, remarked:
"Bybit's journey is a story of transformation. Over the past six years, we have not only achieved milestones but also reimagined what's possible in the crypto industry. At Bybit, we're driven by a commitment to innovation, trust, and inclusivity, shaping the future of Web3 and empowering millions to participate in the digital economy. Together, we're building a world where opportunities are limitless."
Innovation as a Transformational Driving Force
Innovation has been a cornerstone of Bybit's success. The platform has introduced transformative products like bbSOL, the first exchange-backed LST token on its Web3 staking platform, and DEX Pro, an advanced decentralized trading solution that bridges the gap between centralized and decentralized exchanges. These developments were showcased during the 2024 WSOT DEX Wave, which highlighted Bybit's ability to integrate CEX and DEX platforms seamlessly.
Trailblazing the Web3 Ecosystem
Bybit's leadership in the Web3 ecosystem is further evident in its growing market share within the TON ecosystem, which increased from 3% at the start of 2023 to 17% in late 2024.The exchange has also strengthened its presence in the Web3 space, with its share of the TON ecosystem soaring from 3% in early 2023 to 17% in late 2024. This remarkable growth underscores Bybit's commitment to delivering state-of-the-art solutions tailored to an evolving crypto landscape.
Earlier this year, Bybit became the first exchange to complete the Catizen ($CATI) tokens through an airdrop, part of the Telegram-based tap-to-earn game Catizen. Bybit's ability to handle complex airdrop operations demonstrates its technical infrastructure's strength and commitment to advancing Web3 opportunities.
Global Compliance and Community Commitment
Bybit's compliance-first approach has been pivotal in securing licenses across major jurisdictions, including Argentina, the Netherlands, Kazakhstan, Georgia, Lithuania, Turkey, Dubai and among others. Demonstrating its dedication to inclusivity and innovation, Bybit became the first global crypto exchange to introduce Sharia-compliant islamic accounts, making its services accessible to a broader range of communities. These initiatives foster stronger connections and reflect Bybit's mission to create a trusted and vibrant web3 ecosystem for the global users.
Bybit continues to strengthen its commitment to fostering a vibrant and engaged blockchain community. In 2024, the company made notable strides by actively contributing to the Blockchain for Good Alliance (BGA), onboarding over 100 partners, and attracting more than 1,000 participants to its latest hackathon. To celebrate exceptional achievements, the BGA Web3 Oscar Awards were recently held in Bangkok, recognizing seven projects that exemplify the alliance's mission to harness blockchain technology for a sustainable future. Additionally, Bybit's Crypto Content Creator Campus 2024 brought together over 200 creators, with Bybit, as the title sponsor, playing a crucial role in empowering the next wave of crypto content innovators.
As Bybit celebrates its 6th anniversary, it remains steadfast in its mission to "Build, Transform, and Supercharge" the crypto and Web3 ecosystem. Bybit's journey of innovation and trust promises a bold future as it continues to lead the charge in shaping the digital economy.
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About Bybit
Bybit is the world's second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Established in 2018, Bybit provides 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 Red Bull Racing team.
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