Crypto
exchange Bybit has surpassed 30 million registered users globally. The
exchange, one of the largest in terms of spot volumes, has
increased its customer base by 10 million over the last six months.
Bybit Surpasses 30 Million
Registered Users
At the end
of November last year, Bybit celebrated its fifth anniversary and boasted a
very high rate of new user acquisition, which helped increase its customer base
to over 20 million.
By early
March 2024, their number had already exceeded 25 million, growing by another 5
million in just the last 2.5 months. This increase was due to a significant
surge in interest in cryptocurrencies in recent months and the rising
popularity of Bybit’s crypto copy trading platform.
“Reaching
30 million registered users is a humbling achievement, and it wouldn’t be
possible without the unwavering support of our vibrant global crypto
community,” said Ben Zhou, the Co-Founder and CEO of Bybit.
Bybit also focuses on expanding its Web3 offerings, including introducing the NFT
Pro marketplace and Inscriptions. Soon, it will launch Bybit Web3 DEX Pro,
a decentralized cryptocurrency exchange platform.
“We
are incredibly grateful for their trust and remain committed to providing
best-in-class, reliable services tailored to local needs. Bybit actively
collaborates with regulators worldwide to ensure compliance and responsible
innovation.”
Market Share and Volumes
Surge
According
to the latest Finance Magnates Intelligence Report, Bybit’s market share in
spot trading has experienced a visible surge, jumping from 2% in 2023 to 11% in April
2024.
The cryptocurrency exchange is currently the second largest in spot volumes, trailing only Binance and surpassing OKX, UpBit, and Coinbase. Notably, the exchange’s volumes have jumped sixfold within a year, from $20 billion to $138 billion.
„Bybit
attributes this growth to its unwavering commitment to user security and trust.
The company prioritizes asset safety through the regular publication of
proof-of-reserve audits, ensuring transparency and accountability with user
funds,” the company commented in the press release.
Recently, however,
the exchange found itself targeted by the French regulator AMF, which warned
against its operations in the country. The regulator reminded that the platform
was blacklisted two years ago.
This article was written by Damian Chmiel at www.financemagnates.com.
