Crypto exchange Coinbase has been surpassed in volume by Bybit since October, according to analytics firm Kaiko. In a new report, Kaiko says that the launch of Bitcoin (BTC) exchange-traded funds (ETFs) in the US has helped Bybit more than others in its push for market dominance. “The launch of spot Bitcoin ETFs in the […]
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According to a recent report by Kaiko, Bybit has surged to become the world’s second-largest cryptocurrency exchange by volume, overtaking Coinbase and closely trailing Binance. This climb is attributed to significant increases in market share following the launch of spot bitcoin exchange-traded funds (ETFs) in the United States. Bybit Climbs Crypto Exchange Ladder The report […]
Bybit became the world’s second-largest crypto exchange, while the leading exchange, Binance, has lost some market share due to previous regulatory issues.
Bybit exchange has flipped Coinbase to become the world’s second-largest cryptocurrency exchange.
Following a surge in trading, Bybit became the second-largest centralized crypto exchange (CEX) by trading volume, according to a June 25 report by Kaiko. The report said:
During the same period, Coinbase’s market share only increased by 1% despite reporting improved profits and revenue.
Coinbase, Binance and a host of other top crypto exchanges around the world rolled out immediate trading support for a brand new altcoin native to an “omnichain” project. LayerZero bills itself as an omnichain interoperability protocol. The project aims to move data across blockchains and support “censorship-resistant messages and permissionless development through immutable smart contracts.” […]
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Layerzero’s native token, ZRO, has been listed on several major cryptocurrency exchanges, marking a significant milestone for the cross-chain communication protocol. Binance, Upbit, Okx, Bybit, Gate.io, Bitget, Kucoin, MEXC, and Woo X have all added ZRO to their platforms, offering various trading pairs. Layerzero distinguishes itself with its innovative approach to cross-chain communication, facilitating the […]
Cryptocurrency exchange Bybit has opened its platform to overseas Chinese residents for trading. The Dubai-based company’s decision is part of a strategy to draw new users while navigating the complexities of global regulatory scrutiny. “This move is in response to the growing demand for secure, reliable, and user-friendly cryptocurrency trading platforms among Chinese expatriates and […]
Data suggested that more than ten million Chinese nationals lived outside the country, giving Bybit access to a larger pool of crypto users.
Cryptocurrency exchange Bybit has reportedly opened registration and identification verification for Chinese nationals outside the country.
According to reports from Bybit users on June 6, the exchange will allow overseas Chinese nationals to register and trade crypto on the platform. Users can register with a Chinese national ID, but trading crypto as a national based in China was seemingly not permitted.
With a headquarters in Dubai, Bybit is one of the largest cryptocurrency exchanges by trading volume, behind Coinbase and Binance. The firm previously pulled out of Canada in response to the regulatory environment but has expanded into other markets, including Kazakhstan and the Netherlands. Cointelegraph reached out to Bybit for comment but did not receive a response at the time of publication.
Trading volumes on CEXs have somewhat subsided after topping $9 trillion in March.
According to the latest report by CCData, in May 2024, the cryptocurrency market saw a significant decline in both spot and derivatives trading volumes.
The combined trading volume on centralized exchanges fell by 20.1% to $5.27 trillion during the month. This decline marks the second consecutive month of reduced trading activity, driven by the rangebound price of Bitcoin (BTC) following the network’s April halving.
Spot trading volumes on centralized exchanges dropped 21.6% to $1.57 trillion. The derivatives market also experienced a decline, with volumes decreasing by 19.4% to $3.69 trillion. Despite this downturn, the derivatives market’s dominance increased to the highest level since December 2023, as traders responded to the United States Securities and Exchange Commission’s unexpected approval of spot Ether (ETH) exchange-traded funds (ETFs). This led to a record high in open interest for Ether derivative instruments, which rose by 50.3% to $14.0 billion.
Cryptocurrency exchange Bybit has announced that it has surpassed 30 million registered users globally, marking a significant milestone in its growth. The company’s market share in spot trading has increased from 2% in 2023 to 9.3% in 2024, according to the latest Kaiko Research quarterly report. This growth is attributed to Bybit’s commitment to user […]
Bitcoin’s supply on exchanges has significantly decreased, reaching new lows amid a bullish market trend, which analysts interpret as a shift towards long-term holding rather than short-term trading. A report by Bybit claimed that the diminishing supply could deplete within the next nine months, driven by factors such as the recent Bitcoin halving event and […]