According to a recent report by the analytical company Kaiko, cryptocurrency exchange Bybit is showing impressive growth in the global market, surpassing competitors and approaching the industry leader.

Kaiko’s data shows a significant increase in Bybit’s dominance in the global cryptocurrency market. The exchange’s share has grown from 8% to 16%, allowing it to overtake Coinbase and come close to the market leader — Binance.

Changes in the balance of power

While Bybit demonstrates impressive growth, other major players show less dynamic results:

  • Coinbase increased its market share by only one percentage point.
  • Binance, despite maintaining its leading position, saw its share decrease from 60% to 54%.

Bybit representatives attribute the exchange’s growing popularity to several key factors:

  • Comfortable service conditions for users.
  • Low transaction fees.
  • Focus on popular cryptocurrencies: more than half of the transactions on the exchange are conducted using Bitcoin (BTC) and Ethereum (ETH).

Current market position

As of June 25, Bybit ranks second after Binance in terms of cryptocurrency trading volume, processing transactions worth $5.37 billion per day.

Bybit’s success demonstrates that there is still room for growth and changes in the balance of power in the highly competitive cryptocurrency market. The exchange successfully attracts users thanks to its ease of use and favorable conditions, allowing it to strengthen its position among the industry’s leading players.

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