Bybit Celebrates Six Years of Extraordinary Growth
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Bybit Celebrates Six Years of Extraordinary Growth
On its sixth anniversary, Bybit remains steadfast in its mission to "build, transform, and accelerate" the crypto and Web3 ecosystem.
Navigating Web3 tides with focused insights
Bybit, the world's second-largest cryptocurrency exchange by trading volume, is proudly celebrating its sixth anniversary, reflecting on a journey marked by innovation, resilience, and growth that has redefined the future of the crypto industry.
Bybit’s rapid rise in the crypto world is evident through its remarkable achievements. Over the past year, Bybit’s registered user base surged from 20 million at its fifth anniversary to nearly 60 million, demonstrating its ability to attract and retain a rapidly expanding global user base. In Q3 2024, Bybit achieved an average daily trading volume of $33 billion, reaching a record high of $100 billion in a single day in August 2024. This growth propelled Bybit’s spot market share from seventh place last year (3.2%) to second place in 2024 (8.51%). Additionally, Bybit’s derivatives market share increased from 6% to 15%, underscoring its strong product offerings and strategic advancement.
Commenting on Bybit’s extraordinary transformation journey, Ben Zhou, co-founder and CEO of Bybit, said: “Bybit’s growth story is one of transformation. Over the past six years, we’ve not only achieved significant milestones but also redefined what’s possible in the crypto industry. Driven by our mission of innovation, trust, and inclusivity, we are shaping the future of Web3 and empowering millions worldwide to participate in the digital economy. Together, we are building a world full of infinite possibilities.”
Innovation as a Catalyst for Transformation Innovation has been the cornerstone of Bybit’s success. The platform has launched several disruptive products, including bbSOL—the first exchange-backed liquid staking token (LST) on its Web3 staking platform—and DEXPro, an advanced decentralized trading solution that seamlessly bridges centralized exchanges (CEX) and decentralized exchanges (DEX) via www.bybit.com. These innovations were prominently showcased during the 2024 WSOT DEX Wave event, highlighting Bybit’s unique capability to integrate CEX and DEX platforms.
Leading the Web3 Ecosystem
Bybit’s leadership in the Web3 ecosystem is also reflected in its rapidly growing market share. For example, its share within the TON ecosystem increased from 3% in early 2023 to 17% by the end of 2024. This significant growth demonstrates Bybit’s commitment to delivering cutting-edge solutions tailored to the evolving crypto market landscape.
Earlier this year, Bybit became the first exchange to complete the distribution of Catizen ($CATI) tokens via airdrop—part of Catizen, a Telegram-based "play-to-earn" game. The successful execution of these complex airdrops highlights the strength of Bybit’s technical infrastructure and its determination to advance Web3 development.
Global Compliance and Community Commitment
Bybit’s “compliance-first” strategy has led to licensing successes across multiple global jurisdictions, including Argentina, the Netherlands, Kazakhstan, Georgia, Lithuania, Turkey, and Dubai. Furthermore, Bybit was the first global crypto exchange to launch Sharia-compliant halal accounts, further expanding accessibility. These initiatives reflect Bybit’s vision of enhancing trust and building a vibrant Web3 ecosystem.
In 2024, Bybit made notable strides in fostering blockchain community development: As an active contributor to the Blockchain for Good Alliance (BGA), Bybit has onboarded over 100 partners and attracted more than 1,000 participants to its latest hackathon. The BGA Web3 Oscars were recently held in Bangkok, honoring seven outstanding projects leveraging blockchain technology for sustainable development. Additionally, Bybit served as the title sponsor of the 2024 Crypto Content Creator Campus, bringing together over 200 creators and providing strong support for the next wave of crypto content innovators.
As it celebrates its sixth anniversary, Bybit remains firmly committed to its mission of “building, transforming, and accelerating” the crypto and Web3 ecosystems. Bybit’s journey of innovation and trust points toward a promising future, as it continues to lead the evolution of the digital economy.
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 50 million users. Founded in 2018, Bybit provides a professional platform for cryptocurrency investors and traders, featuring an ultra-fast matching engine, round-the-clock customer service, and multilingual community support. Bybit is a partner of Oracle Red Bull Racing, champions in Formula 1 racing.
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