Quick take:
- Bybit attributed its increasing market share to its commitment to user privacy and security.
- The company has also been diversifying its offerings with the recent launches of the Airdrop Arcade, NFT Pro, and Inscription Marketplaces.
- This announcement also comes ahead of Bybit’s planned launch of Bybit Web3 DEX Pro, a decentralised exchange platform powered by the i-SMART data intelligence technology.
Bybit has crossed a key milestone surpassing 30 million registered users globally. The crypto exchange company’s market share in spot trading skyrocketed from 2% in 2023 to a staggering 9.3% in 2024 according to a press release shared with NFTgators.
The announcement comes at the height of a crypto bull run as retail traders continue to flock into the industry.
Bybit registered a 400% surge in the number of registered users from 2023 to 2024, which compared to a growth of 7.3% in the previous year, according to Kaiko Research’s latest quarterly report.
The surge coincides with significant developments in the crypto space with the approval of Spot Bitcoin ETFs, the growth of real-world asset tokenisation as a blockchain use-case, and the March to Bitcoin halving event, which took place in April. During the bull run, the bitcoin price surged to new record highs, boosting the crypto market capitalisation to $2.64 trillion in mid-March, just shy of the $2.8 trillion market capitalisation reached on November 13, 2021.
Bybit credits its rapid growth over the past year to its dedication to security and transparency, which saw it receive “a 10/10 Trust Score from CoinGecko and an ‘AA’ rating in the recent CCData Crypto Exchange Benchmark Report.”
Commenting on the announcement, Ben Zhou, Co-founder and CEO of Bybit said in a statement: “Reaching 30 million registered users is a humbling achievement, and it wouldn’t be possible without the unwavering support of our vibrant global crypto community. We are incredibly grateful for their trust and remain committed to providing best-in-class, reliable services tailored to local needs. Bybit actively collaborates with regulators worldwide to ensure compliance and responsible innovation.”
Bybit has also been expanding its product offerings, launching the Airdrop Arcade, NFT Pro, and Inscription Marketplaces this year. The company also plans to launch the Bybit Web3 DEX Pro, a decentralised exchange platform powered by the i-SMART data intelligence technology.
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The post Bybit Rides the Crypto Bull Run to Cross 30M Registered Users appeared first on NFTgators .