Bybit’s Market Share Skyrockets: A Testament to Sharp Trading Products and User Loyalty

Bybit, a leading cryptocurrency exchange platform, has recently announced a significant increase in its Bitcoin trading volume, solidifying its position as a frontrunner in the crypto trading world. According to the latest Kaiko Research quarterly report, Bybit’s market share has surged from 2% in 2023 to 9.3% in 2024, marking a nearly 400% increase.

The rise in Bybit’s market share of altcoins, all cryptocurrencies apart from Bitcoin, has also been notable. Trading volume for altcoins has increased from 2.9% to 8% over the same period, a 275% year-over-year growth. Bybit attributes this increase to the introduction of its Unified Trading Account, which has made trading altcoins more accessible to users.

Ben Zhou, co-founder and CEO of Bybit, expressed pride in the company’s growth, stating, “This milestone is a testament to our sharp trading products and the loyalty of our users. As the industry evolves, Bybit remains at the forefront, ready to set new standards in the crypto trading world.”

In addition to its increased market share, Bybit has reported a 180% growth in institutional clients over the past year. This growth may be attributed to the growing interest in cryptocurrencies within the institutional sphere, as well as the increased regulatory clarity provided by key jurisdictions such as Europe, Singapore, Hong Kong, and Dubai.

Bybit recently hosted a panel discussion on Bitcoin halving, ETFs, and macroeconomic shifts, featuring industry thought leaders. The panelists discussed the impact of Bitcoin halving events, the influence of institutional investments, and the role of macroeconomics in shaping the cryptocurrency market.

Overall, Bybit’s impressive growth in market share and institutional client base, coupled with its commitment to innovation and user-centric products, positions the platform as a key player in the evolving world of crypto trading.