According to a report by cryptocurrency research firm Kaiko, Bybit has surpassed Coinbase in March to become the world's second-largest cryptocurrency exchange, second only to Binance.

This achievement was helped by the impact of the launch of a spot Bitcoin ETF in the United States, which helped Bybit double its market share from 8% in October 2023 to 16% in March.

However, Kaiko's data shows that Coinbase's growth in the same period was relatively small, increasing by only 1%.

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