Bybit Crosses 30 Million User Threshold amid Sixfold Volume Jump

Crypto exchange Bybit has surpassed 30 million registered users globally. The exchange, one of the largest in terms of spot volumes, has increased its customer base by 10 million over the last six months.

Bybit Surpasses 30 Million Registered Users

At the end of November last year, Bybit celebrated its fifth anniversary and boasted a very high rate of new user acquisition, which helped increase its customer base to over 20 million.

By early March 2024, their number had already exceeded 25 million, growing by another 5 million in just the last 2.5 months. This increase was due to a significant surge in interest in cryptocurrencies in recent months and the rising popularity of Bybit's crypto copy trading platform.

"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," said Ben Zhou, the Co-Founder and CEO of Bybit.

Bybit also focuses on expanding its Web3 offerings, including introducing the NFT Pro marketplace and Inscriptions. Soon, it will launch Bybit Web3 DEX Pro, a decentralized cryptocurrency exchange platform.

"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."

Market Share and Volumes Surge

According to the latest Finance Magnates Intelligence Report, Bybit's market share in spot trading has experienced a visible surge, jumping from 2% in 2023 to 11% in April 2024.

The cryptocurrency exchange is currently the second largest in spot volumes, trailing only Binance and surpassing OKX, UpBit, and Coinbase. Notably, the exchange's volumes have jumped sixfold within a year, from $20 billion to $138 billion.

„Bybit attributes this growth to its unwavering commitment to user security and trust. The company prioritizes asset safety through the regular publication of proof-of-reserve audits, ensuring transparency and accountability with user funds,” the company commented in the press release.

Recently, however, the exchange found itself targeted by the French regulator AMF, which warned against its operations in the country. The regulator reminded that the platform was blacklisted two years ago.