- Bybit Surpasses 15 Million Users, Experiencing Rapid User Growth
- Bybit Adds SUI Token to its Exchange, Joining Three Other Exchanges
Bybit, a major global cryptocurrency exchange, saw its user base increase twofold in just six months. Starting with 10 million users in the third quarter of 2022, the exchange reached an impressive milestone of 15 million users by May 2023. This significant growth of 50% can be attributed to the introduction of diverse and engaging products by the exchange, which attracted a larger user base.
Bybit’s impressive growth can be attributed to not only its product offerings but also notable partnerships and collaborations. For instance, the exchange expanded its partnership with Paradigm, a crypto derivative platform, and became one of the Principal Team Partners for Oracle Red Bull Racing. These strategic alliances have played a significant role in capturing the audience’s attention and contributing to Bybit’s success.
Revved up for the Miami GP tomorrow? Looks like @elonmusk is!
Bybit (@Bybit_Official) May 7, 2023
In April, the exchange proudly opened its global headquarters in Dubai, which holds special significance for Ben Zhou, the CEO of the company.
“We are very excited and proud to see Bybit reach 15 million users worldwide, especially as we recently established our global headquarters in Dubai. This milestone is a testament to our dedication to innovation and expansion, confirming our strong presence as a major player in the global cryptocurrency exchange market.”
Products Range of Bybit
By listing Sui Network’s native token (SUI) for crowd sale and introducing a range of products tailored to different types of investors, Bybit attracted a diverse range of users. Particularly, Bybit Lending drew the interest of investors looking to earn attractive yields with annual percentage rates (APRs) in the triple digits.
Bybit’s Position Builder has gained popularity among top traders due to its user-friendly interface and the ability to easily construct positions using a wide range of derivative products and trading strategies. Additionally, the exchange is venturing into the field of Artificial Intelligence with its AI program called Tools Discovery. This initiative aims to leverage AI technology to enhance the trading experience and provide valuable tools for users.