Bybit Marks Six Years of Transformational Growth in the Crypto Landscape

Celebrating Six Years of Bybit

Bybit, the world’s second-largest cryptocurrency exchange by trading volume, proudly commemorates its sixth anniversary, highlighting a remarkable journey of innovation, resilience, and growth that has transformed the cryptocurrency landscape.

Unprecedented Rise in User Engagement

In the past year, Bybit has seen its registered user base surge from 20 million at its fifth anniversary to nearly 60 million now. This substantial increase exemplifies Bybit's ability to attract and retain a rapidly expanding global audience. The platform now boasts an average daily trading volume of $33 billion, peaking at a historic high of $100 billion in August 2024. As a result, Bybit has climbed to the second position in the spot market, moving from seventh place last year to capture an impressive 8.51% market share.

Moreover, its progress in the derivatives market is equally notable, with its share increasing from 6% to 15%, showcasing Bybit's robust product offering and strategic advancements.

A Message from the CEO

Ben Zhou, Co-founder and CEO of Bybit, reflects on this incredible journey, stating, “Bybit's journey is a story of transformation. Over the last six years, we have not only achieved milestones but also reimagined what’s possible in the crypto industry. At Bybit, we are driven by a commitment to innovation, trust, and inclusivity. We are shaping the future of Web3 and helping millions engage with the digital economy. Together, we are building a world of limitless opportunities.”

Innovation as a Driving Force

Innovation has been the cornerstone of Bybit's success. The exchange has introduced groundbreaking products such as bbSOL, the first LST token available on its Web3 staking platform, and DEX Pro, an advanced decentralized trading solution bridging the gap between centralized and decentralized exchanges. These initiatives were showcased during the 2024 WSOT DEX Wave, demonstrating Bybit's capability to seamlessly integrate the benefits of both CEX and DEX platforms.

Leading the Web3 Ecosystem

Bybit's leadership in the Web3 ecosystem is further illustrated by its growing market share within the TON ecosystem, which has skyrocketed from 3% at the beginning of 2023 to an impressive 17% by the end of 2024. The exchange has significantly strengthened its presence in the Web3 space, reflecting its commitment to providing state-of-the-art, bespoke solutions in a rapidly evolving cryptocurrency environment.

Earlier this year, Bybit became the first exchange to successfully complete the Catizen ($CATI) airdrop as part of the Telegram-based tap-to-earn game, showcasing its technical prowess and dedication to enhancing Web3 opportunities.

Commitment to Global Compliance and Community Engagement

Compliance is a high priority for Bybit. This proactive approach has facilitated the acquisition of licenses in key jurisdictions such as Argentina, the Netherlands, Kazakhstan, Georgia, Lithuania, Turkey, and Dubai. Bybit also made headlines by introducing Sharia-compliant Islamic accounts, underscoring its commitment to inclusivity and innovation accessible to a broader range of communities.

These initiatives foster stronger connections and reflect Bybit's mission of creating a trusted and vibrant Web3 ecosystem for global users. The platform continues to contribute to a vibrant and engaged blockchain community. In 2024, Bybit made significant strides by actively participating in the Blockchain for Good Alliance (BGA), recruiting over 100 partners and attracting more than 1,000 participants for its recent hackathon. To recognize exceptional performance, the BGA Web3 Oscar Awards were distributed in Bangkok to celebrate seven projects exemplifying the alliance's mission of employing blockchain technology for a sustainable future. Moreover, Bybit's Crypto Content Creator Campus 2024 brought together over 200 creators, playing a pivotal role in empowering the next wave of cryptocurrency content innovators.

As Bybit celebrates its 6th anniversary, it remains steadfast in its mission to