On the occasion of its sixth anniversary, Bybit remains committed to its mission of "Building, Transforming, Accelerating" the cryptocurrency and Web3 ecosystem.

Bybit is the second largest cryptocurrency exchange in the world by trading volume, grandly celebrating its sixth anniversary while reflecting on a journey filled with innovation, resilience, and growth that has redefined the future of the cryptocurrency industry.

Bybit's rapid rise in the cryptocurrency world is evident in its significant achievements. Over the past year, the number of registered users on Bybit surged from 20 million at its fifth anniversary to nearly 60 million, showcasing 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 $33 billion, and in August 2024, it set a historical high daily trading volume of $100 billion. This growth propelled Bybit's spot market share from seventh place last year (3.2%) to second place in 2024 (8.51%). Additionally, Bybit's share in the derivatives market increased from 6% to 15%, highlighting its strong product capabilities and strategic advancements.

Speaking about Bybit's extraordinary transformation journey, Bybit co-founder and CEO Ben Zhou stated: "Bybit's growth story is a journey of transformation. Over the past six years, we have not only achieved numerous milestones but also redefined the possibilities within the crypto industry. With a mission centered on innovation, trust, and inclusivity, Bybit is dedicated to shaping the future of Web3 and supporting millions of people worldwide in participating in the digital economy. Together, we are building a world full of infinite possibilities."

Innovation Drives Transformational Development Innovation has always been the cornerstone of Bybit's success. The platform has launched many disruptive products, such as the first exchange-supported liquid staking token (LST) bbSOL on its Web3 staking platform, and the advanced decentralized trading solution DEXPro, successfully achieving a seamless connection between the centralized exchange (CEX) at www.bybit.com and decentralized exchanges (DEX). These innovations were prominently showcased during the 2024 WSOT DEX Wave 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 market share growth. For instance, its market share in the TON ecosystem increased from 3% at the beginning of 2023 to 17% by the end of 2024. This significant growth demonstrates Bybit's commitment to providing cutting-edge solutions to adapt to the ever-evolving cryptocurrency market environment.

Earlier this year, Bybit became the first exchange to complete the distribution of Catizen ($CATI) tokens through an airdrop, which is part of the "play-to-earn" game Catizen based on Telegram. The successful execution of these complex airdrop operations showcases the strength of Bybit's technological infrastructure and its determination to drive Web3 development.

Global Compliance and Community Commitment

Bybit's "compliance-first" strategy has achieved licensing in multiple global jurisdictions, including Argentina, the Netherlands, Kazakhstan, Georgia, Lithuania, Turkey, and Dubai. Additionally, Bybit is the first global cryptocurrency exchange to launch Sharia-compliant accounts, further expanding accessibility to its services. These initiatives reflect Bybit's vision of enhancing trust and building a vibrant Web3 ecosystem.

In 2024, Bybit made significant progress in promoting the development of the blockchain community: as an active contributor to the Blockchain for Good Alliance (BGA), Bybit has onboarded over 100 partners and attracted more than 1,000 participants to its latest hackathon event. The BGA Web3 Oscars were recently held in Bangkok, recognizing seven outstanding projects that utilize blockchain technology to promote sustainable development. Furthermore, Bybit, as the title sponsor of the 2024 Crypto Content Creator Campus, gathered over 200 creators, providing strong support for the next wave of crypto content innovators.

On the occasion of its sixth anniversary, Bybit remains steadfast in its mission of "Building, Transforming, Accelerating" the cryptocurrency and Web3 ecosystem. Bybit's journey of innovation and trust heralds a hopeful future, as it continues 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, offering ultra-fast matching engines, 24/7 customer service, and multilingual community support. Bybit is a partner of the Formula 1 team and driver champion Oracle Red Bull Racing.

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