As Bybit celebrates its sixth anniversary, it remains steadfast in its mission to “build, transform, and accelerate” the crypto and Web3 ecosystem.
Bybit, the world’s second largest cryptocurrency exchange by trading volume, celebrates its sixth anniversary, looking back on a journey of innovation, resilience, and growth that has redefined the future of the cryptocurrency industry.
Bybit’s meteoric rise in the cryptocurrency world is reflected in its notable achievements. In the past year, Bybit's number of registered users has soared from 20 million at 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, Bybit's average daily trading volume reached US$33 billion, and in August 2024, it hit a record daily trading volume of US$100 billion. This growth has allowed Bybit’s spot market share to climb from seventh place last year (3.2%) to second place in 2024 (8.51%). In addition, Bybit’s share of the derivatives market has also increased from 6% to 15%, demonstrating its strong product strength and strategic progress.
Speaking of Bybit’s extraordinary transformation, Bybit co-founder and CEO Ben Zhou said: “Bybit’s growth story is a transformational journey. In the past six years, we have not only achieved many milestones, but also redefined the possibilities of the crypto industry. With innovation, trust and inclusion as our mission, Bybit is committed to shaping the future of Web3 and supporting millions of people around the world to participate in the digital economy. Together, we are building a world of unlimited possibilities.”
Innovation drives transformation and development Innovation has always been the cornerstone of Bybit's success. The platform has launched many disruptive products, such as bbSOL, the first exchange-supported liquidity staking token (LST) on its Web3 staking platform, and DEXPro, an advanced decentralized trading solution, which successfully achieved the seamless connection between centralized exchanges (CEX) and decentralized exchanges (DEX). These innovations were fully demonstrated at the 2024 WSOTDEXWave event, highlighting Bybit's ability to integrate CEX and DEX platforms.
Leading the Web3 Ecosystem
Bybit’s leadership position in the Web3 ecosystem is also reflected in its rapid growth in market share. For example, its market share in the TON ecosystem increased from 3% at the beginning of 2023 to 17% at the end of 2024. This significant growth demonstrates Bybit’s commitment to providing cutting-edge solutions to adapt to the evolving crypto market environment.
Earlier this year, Bybit became the first exchange to complete an airdrop of Catizen ($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
Bybit's "compliance first" strategy has obtained 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 a halal account that complies with Shariah principles, further expanding the accessibility of its services. These initiatives reflect Bybit's 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 join its latest Hackathon event. The BGAWeb3 Oscars were also recently held in Bangkok, recognizing seven outstanding projects that use blockchain technology to promote sustainable development. In addition, Bybit serves as the title sponsor of the 2024 CryptoContentCreatorCampus, bringing together more than 200 creators to provide 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 direction of 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.
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