Bybit Celebrates Six Years of Transformational Growth in the Cryptocurrency Sector

Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has marked its sixth anniversary, celebrating a period of significant growth and innovation. The exchange’s journey has been characterized by a series of achievements that have reshaped the cryptocurrency landscape.

Over the past year, Bybit’s registered user base has expanded dramatically, tripling from 20 million during its fifth anniversary to nearly 60 million. This growth highlights the platform’s ability to attract and retain a global audience. Bybit now averages $33 billion in daily trading volume, with an all-time high of $100 billion recorded in August 2024. This surge has elevated Bybit to the second position in spot market share, rising from seventh place last year with 3.2% to 8.51% in 2024. In the derivatives market, Bybit’s share increased from 6% to 15%, reflecting its robust offerings and strategic advancements.

Innovation as a Transformational Driving Force

Innovation has been central to Bybit’s success. The platform has introduced transformative products such as bbSOL, the first exchange-backed LST token on its Web3 staking platform, and DEX Pro, an advanced decentralized trading solution. These developments were showcased during the 2024 WSOT DEX Wave, demonstrating Bybit’s capability to integrate centralized and decentralized exchange platforms seamlessly.

Trailblazing the Web3 Ecosystem

Bybit’s leadership in the Web3 ecosystem is further evidenced by its growing market share within the TON ecosystem, which increased from 3% at the start of 2023 to 17% in late 2024. This growth underscores Bybit’s commitment to delivering state-of-the-art solutions tailored to the 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. This achievement highlights Bybit’s technical infrastructure and commitment to advancing Web3 opportunities.

Global Compliance and Community Commitment

Bybit’s compliance-first approach has been crucial in securing licenses across major jurisdictions, including Argentina, the Netherlands, Kazakhstan, Georgia, Lithuania, Turkey, and Dubai. The exchange has also introduced Sharia-compliant Islamic accounts, making its services accessible to a broader range of communities. These initiatives reflect Bybit’s mission to create a trusted and vibrant Web3 ecosystem for global users.

In 2024, Bybit made significant strides in fostering a vibrant blockchain community by contributing to the Blockchain for Good Alliance (BGA), onboarding over 100 partners, and attracting more than 1,000 participants to its latest hackathon. The BGA Web3 Oscar Awards, held in Bangkok, recognized 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 playing a crucial role in empowering the next wave of crypto content innovators.

As Bybit celebrates its sixth anniversary, it remains committed to 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.

For more information, visit the official announcement here.

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