TechFlow reports, citing Cointelegraph and a June 25 report from Kaiko, that Bybit has surpassed Coinbase to become the world's second-largest cryptocurrency exchange. Since last October, Bybit's market share has grown from 8% to 16%, while Coinbase's market share increased by only 1%. Part of Bybit's growth is attributed to regulatory issues faced by Binance, which saw its market share decline from 60% to 54%. Additionally, Bybit's launch of zero-fee USDC trading in February may have contributed to its increased trading volume. Nevertheless, Binance remains the largest cryptocurrency exchange globally by trading volume.
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