Bitcoin

Dubai-based crypto exchange Bybit has overtaken Coinbase and risen to second place globally by trading volume, largely targeting former customers of the defunct FTX platform as well as users in Europe and Russia.
<h2 id="crypto-exchange-bybit-rises-in-the-gap-left-by-ftx">Crypto Exchange Bybit Rises in the Gap Left by FTX</h2>
Bybit's growth has been driven by offering services that allow digital tokens to be used as collateral for margin trading, filling the gap left by the collapse of FTX.
“When FTX crashed, we saw the opportunity,” co-founder and CEO Ben Zhou highlighted this strategy in a recent interview.
According to Kaiko data, Bybit's share in transaction volume has doubled since October, reaching 16%, surpassing the US leader Coinbase.
Related News: <a href="https://en.bitcoinsistemi.com/breaking-us-government-allegedly-moved-4000-bitcoin-btc-to-coinbase/" target="_blank" rel="noopener noreferrer nofollow">BREAKING: US Government Allegedly Moved 4,000 Bitcoin (BTC) to Coinbase</a>
The platform currently ranks second behind Binance in both spot and derivatives trading.
Crypto exchanges have benefited from a significant recovery in Bitcoin's price over the past year, fueled by the launch of dedicated US exchange-traded funds.
This recovery follows a tough bear market and FTX's high-profile crash in 2022.
Shortly after FTX's collapse, Bybit introduced a trading account that allowed cross-margin trading with more than 160 tokens.
Users can also take advantage of unrealized profits to open new positions. “This was something no one else had,” Zhou said.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/huge-attack-from-dubai-based-bitcoin-exchange-it-surpassed-coinbase-and-rose-to-the-2nd-place-in-terms-of-transaction-volume/" rel="noopener noreferrer nofollow">Huge Attack from Dubai-Based Bitcoin Exchange! It surpassed Coinbase and rose to the 2nd place in terms of transaction volume!</a>

Huge Attack from Dubai-Based Bitcoin Exchange! It surpassed Coinbase and rose to the 2nd place in terms of transaction volume!

Tabla de contenidos

Bitcoin Sistemi EN

Otros artículos publicados el 27 jun 2024

Bitcoin Inflows: Will BTC DIP Below $60k Again?

‘Crypto Queen’ Wanted: FBI Puts $5 Million Price Tag On OneCoin Founder’s Arrest

The Best Crypto Presales To Buy Before The End Of June 2024

Machi Big Brother Invests in BLAST Tokens

With MARA Interest Boost In Kaspa, Can It Shoot To $1 Mark?

Katie Haun: The Journey from a Federal Prosecutor to a Leading Blockchain Venture Capitalist

¡Únete a nuestro boletín gratuito para recibir actualizaciones diarias de criptografía!