On December 3, Bybit, the world’s second-largest cryptocurrency exchange by trading volume, celebrated its sixth anniversary, looking back on a journey full of innovation, resilience, and growth.
Over the past year, Bybits registered user base has soared from 20 million in its fifth anniversary to nearly 60 million, fully demonstrating its ability to attract and retain a rapidly growing global user base. In the third quarter of 2024, Bybits average daily trading volume reached US$33 billion, and in August 2024, it hit an all-time high of US$100 billion in daily trading volume. This growth has enabled Bybits spot market share to climb from seventh place last year (3.2%) to second place in 2024 (8.51%). In addition, Bybits share of the derivatives market has also increased from 6% to 15%, demonstrating its strong product strength and strategic progress.
Speaking of Bybit’s extraordinary transformation, Ben Zhou, Co-founder and CEO of Bybit, said: “Bybit’s growth story is a transformational journey. In the past six years, we have not only achieved many milestones, but also redefined the possibilities of the crypto industry. With innovation, trust and inclusion as our mission, Bybit is committed to shaping the future of Web3 and supporting millions of people around the world to participate in the digital economy. Together, we are building a world of unlimited possibilities.”
Innovation drives transformation and development
Innovation has always been the cornerstone of Bybits success. The platform has launched many disruptive products, such as bbSOL, the first exchange-supported Liquid Staking Token (LST) on its Web3 staking platform, and DEX Pro, an advanced decentralized trading solution that seamlessly connects centralized exchanges (CEX) and decentralized exchanges (DEX). These innovations were fully demonstrated at the 2024 WSOT DEX Wave event, highlighting Bybits ability to integrate CEX and DEX platforms. www.bybit.com
Leading the Web3 Ecosystem
Bybit’s leadership in the Web3 ecosystem is also reflected in its rapid growth in market share. For example, its market share in the TON ecosystem increased from 3% at the beginning of 2023 to 17% at the end of 2024. This significant growth reflects Bybit’s commitment to providing cutting-edge solutions to adapt to the evolving crypto market environment.
Earlier this year, Bybit became the first exchange to complete an airdrop of Catizen ($CATI) tokens as part of the Telegram-based “play and earn” game Catizen. The smooth completion of these complex airdrop operations demonstrates the strength of Bybit’s technical infrastructure and its determination to promote the development of Web3.
Global Compliance and Community Commitment
Bybits compliance first strategy has resulted in licenses in multiple global jurisdictions, including Argentina, the Netherlands, Kazakhstan, Georgia, Lithuania, Turkey, and Dubai. In addition, Bybit is the first global crypto exchange to launch Sharia-compliant halal accounts, further expanding the accessibility of its services. These initiatives reflect Bybits vision to enhance trust and build a vibrant Web3 ecosystem.
In 2024, Bybit has made significant progress in promoting the development of the blockchain community: as an active contributor to the Blockchain for Good Alliance (BGA), Bybit has attracted more than 100 partners and attracted more than 1,000 participants to its latest hackathon. The BGA Web3 Oscars were also recently held in Bangkok, recognizing seven outstanding projects that use blockchain technology to promote sustainable development. In addition, Bybit, as the title sponsor of the 2024 Crypto Content Creator Campus, has brought together more than 200 creators, providing strong support for the next wave of crypto content innovators.
As Bybit celebrates its sixth anniversary, it remains steadfast in its mission to “build, transform, and accelerate” the crypto and Web3 ecosystem. Bybit’s journey of innovation and trust foreshadows a promising future where it will continue to lead the way in the digital economy.
About Bybit
Bybit is the second largest cryptocurrency exchange in the world by trading volume, serving over 50 million users. Founded in 2018, Bybit provides a professional platform for cryptocurrency investors and traders to find an ultra-fast matching engine, 24/7 customer service, and multi-lingual community support. Bybit is a partner of Formula 1 team and drivers champion Oracle Red Bull Racing.
