Bybit, a prominent cryptocurrency exchange based on trading volume, has announced a significant rise in Bitcoin trading activity. Since launching its spot trading platform in 2022, the exchange has experienced a notable increase in its market share.
Kaiko Research’s most recent quarterly report states that Bybit has increased its market share from 2.3% in 2023 to 9.3% in 2024—a significant increase from the 7.3% it had the year before.
Growth is not limited to Bitcoin. The volume of cryptocurrency trades on Bybit has increased significantly by 275%, from 2.9% to 8%. This expansion appears to be related to Bybit’s user-friendly activities, as seen by the launch of the exchange’s Unified Trading Account at the same time as this increase.
https://x.com/Bybit_Official/status/1782831809446707619
The platform has seen a 180% rise in institutional clients over the last year, demonstrating the success of its strategy focus on catering to both novice and experienced investors. Bybit credits its success to its unwavering commitment to security, customer support, and continuous technical innovation.
Cofounder and CEO of Bybit, Ben Zhou, commented on the accomplishment, praising the user base’s faith in the platform and its dedication to innovation. “We are committed to maintaining our role at the forefront of the crypto trading industry,” said Zhou.
Bybit intends to maintain its current rate of growth by continuing to develop and adjust to the changing needs of the cryptocurrency community. Bybit is still expanding, with the goal of reaching an even larger market share in the future.
