Bybit Reaches Six-Year Milestone With Innovation And Transformative Growth
In Brief
Bybit celebrates its 6th anniversary, reflecting on a journey of innovation, adaptability, and growth that has reshaped the crypto industry.
Cryptocurrency exchange Bybit announced its 6th anniversary, reflecting on a journey of innovation, adaptability, and growth that has redefined the cryptocurrency industry.
“Bybit’s journey is a story of transformation. Over the past six years, we have not only achieved milestones but also reimagined what’s possible in the crypto industry,” said Ben Zhou, Co-founder and CEO of Bybit, in a written statement. “At Bybit, we’re driven by a commitment to innovation, trust, and inclusivity, shaping the future of Web3 and empowering millions to participate in the digital economy. Together, we’re building a world where opportunities are limitless,” he added.
Bybit’s fast growth in the cryptocurrency space is evident in its impressive accomplishments. Over the past year, the platform’s registered user base has surged from 20 million at its 5th anniversary to nearly 60 million at its 6th anniversary, demonstrating its ability to attract and retain a fast-growing global audience. Bybit now averages $33 billion in daily trading volume for the past quarter, with an all-time high of $100 billion in trading volume recorded in August 2024. This growth has propelled Bybit to the second position in spot market share, up from 7th place last year with 3.2% to 8.51% in 2024. Additionally, Bybit has made notable strides in the derivatives market, growing its share from 6% to 15%, reflecting the strength of its offerings and strategic developments.
Innovation has been a key factor in Bybit’s success. The platform has launched transformative products such as bbSOL, the first exchange-backed LST token on its Web3 staking platform, and DEX Pro, a sophisticated decentralized trading solution that bridges centralized and decentralized exchanges. These innovations were highlighted during the 2024 WSOT DEX Wave, showcasing Bybit’s capability to integrate CEX and DEX platforms seamlessly.
Bybit’s leadership in the Web3 space is also reflected in its increasing market share within The Open Network (TON) ecosystem, which grew from 3% at the beginning of 2023 to 17% by late 2024. This impressive growth highlights Bybit’s focus on providing cutting-edge solutions for the evolving cryptocurrency landscape.
Earlier this year, Bybit became the first exchange to facilitate the Catizen (CATI) token airdrop as part of the Telegram-based tap-to-earn game Catizen. This move demonstrates Bybit’s technical infrastructure and its commitment to pushing the boundaries of Web3 opportunities.
Bybit Highlights Its Commitment To Global Compliance And Community Engagement
Furthermore, Bybit’s compliance-first strategy has played a crucial role in securing licenses across key global jurisdictions, including Argentina, the Netherlands, Kazakhstan, Georgia, Lithuania, Turkey, and Dubai, among others. As part of its commitment to inclusivity and innovation, Bybit became the first global cryptocurrency exchange to offer Sharia-compliant Islamic accounts, broadening access to its services for a wider range of communities. These initiatives help foster stronger connections and reflect Bybit’s mission to build a trusted and thriving Web3 ecosystem for users worldwide.
Bybit has also continued to strengthen its commitment to the blockchain community. In 2024, the company made notable contributions by joining the Blockchain for Good Alliance (BGA), adding over 100 new partners, and drawing more than 1,000 participants to its latest hackathon. The BGA Web3 Oscar Awards, recently held in Bangkok, celebrated seven projects that embody the alliance’s goal of using blockchain technology for a sustainable future. Additionally, Bybit’s Crypto Content Creator Campus 2024 brought together over 200 creators, with Bybit serving as the title sponsor and supporting the next generation of cryptocurrency content innovators.
As Bybit celebrates its 6th anniversary, the company remains focused on its mission to “Build, Transform, and Supercharge” the cryptocurrency and Web3 ecosystem. With a strong foundation in innovation and trust, Bybit is poised to continue leading the way in shaping the future of the digital economy.
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About The Author
Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
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Alisa, a dedicated journalist at the MPost, specializes in cryptocurrency, zero-knowledge proofs, investments, and the expansive realm of Web3. With a keen eye for emerging trends and technologies, she delivers comprehensive coverage to inform and engage readers in the ever-evolving landscape of digital finance.
