Offering leverage up to 100x and supporting trading of over 650 cryptocurrencies, Bybit has emerged as the second largest crypto exchange. 

With advanced tools and a user-friendly interface, Bybit caters to both experienced traders and beginners, simplifying the complexities of crypto trading.

Bybit’s unique features and market influence set it apart in the crypto space. This statistics page explores the key numbers and trends shaping Bybit’s growth and impact, providing valuable insights for traders, investors, and crypto enthusiasts alike.

Quick Summary Of Bybit Statistics

  1. Bybit’s trading volume in Q1 of 2024 reached $189.0 billion.
  2. Bybit rose to the second position on the most extensive cryptocurrency exchange list.
  3. In June 2024, Bybit had the third-highest 24-hour trading volume at $4.73 billion.
  4. The market share of Bybit increased from 8% to 16% in 2024.
  5. Bybite’s estimated annual revenue is $269.5 million.

Bybit Trading Volume Statistics

Annual trading volume is the sum of the spot and derivatives trading volume.

In 2020, Bybit recorded a trading volume of $528.7 billion. The trading volume on Bybit skyrocketed just the following year. It went up by 221.5% and reached $1.7 trillion in 2021.

Next comes 2022, but that year’s total trading volume data is unavailable.

In 2023, though, the exchange pulled in a trading volume of about $2.491 trillion. When compared against the trading volume of 2021, you’d see that the trading volume of 2023 displays a surge of about 46.53%

This year, things also seem to look better for Bybit. Within just the first quarter of 2024, Bybit shows a total trading volume figure of $189.0 billion.

The remainder of the year still lies ahead, and given Bybit’s rapid growth, the exchange is expected to cross its 2023 record figure soon.

Year Total Trading Volume
2020 $528.7 Billion
2021 $1.7 Trillion
2022 Data not found
2023 $2.491 Trillion
Q1 2024 $189.0 billion

Bybit User Statistics

As per the reports in 2022, Bybit reported 10 million registered users, which experienced a 100% growth in 2023.

From 10 million, the user count shot up to 20 million in 2023. According to the last recorded data in March 2024, Bybit had a user base of 30 million. Within a few months, the exchange’s user base increased by 50%.

Every year, Bybit welcomes more and more new users, and as per the niche experts, the platform’s user base will exceed the 40 million mark by the end of this year.

Year Bybit User Count
2022 10 Million
2023 20 Million
June 2024 30 Million

Bybit 24-Hour Trading Volume

As of June 2024, Bybit is the third largest cryptocurrency exchange in terms of 24-hour trading volume.

In June 2024, Bybit reported a 24-hour trading volume of about 4.73 billion just after Binance.

Market Share Of Bybit

Bybit was the third largest exchange in terms of trading volume until October 2023.

But from October to June of this year, i.e., 2024, Bybit expanded at an unprecedented rate. The platform’s market share, calculated based on trading volume, increased from 8% to 16%.

Now, Bybit is the 2nd largest crypto exchange in the world, coming just after Binance.

Revenue Earned By Bybit

The exchange has not released the exact revenue figures.

The niche experts estimate that Bybit’s annual revenue would be about $269.5 million based on the market condition and trade volumes.

Bybit Investment & New Partnerships

More or less, all the large crypto exchanges invest in various blockchain and web3 projects.

Similarly, Bybit has invested in 22 such startup projects till 2024.

Also, Bybit has ventured into new partnerships with giants like Franck Muller and Dubai Multi Commodities Centre.

With Franck Muller, Bybit partnered to launch the NFT process and a co-branded card, which users could use to make payments and enjoy exclusive discounts on the Franck Muller website.

Also, with this partnership, Franck Muller takes a step toward cementing the utilization of Bybit’s Web3 wallet for making purchases on the website.

Dubai Multi Commodities Centre is a free trade zone and business ecosystem in UAE. By partnering with this commodities exchange, Bybite has become an official player in the UAE’s business ecosystem. It has sponsored almost 15 new Web3 companies by distributing about 500,000 AED.

Moreover, Bybit partnered with Mastercard in 2023 to launch the Bybit crypto debit card. This card enables users to seamlessly convert cryptocurrency into fiat currency for purchases or cash withdrawals.

Apart from these partnerships and investments, Bybit is all set to enlist 15 more new currencies. Here’s a list of 15 new coins enlisted on Bybit in 2024.

  1. Pepe Unchained
  2. Wiener AI
  3. PlayDoge
  4. Base Dawgz
  5. Mega Dice Token
  6. 99Bitcoins Token
  7. e Tuk Tuk
  8. KAI
  9. Doge2014
  10. Shiba Shootout
  11. SpacePay
  12. Fight Night
  13. Memereum
  14. Pepe 2.0
  15. EGO

FAQs

Q1. What is the trading fee on Bybit?

Bybit works on the maker-and-taker fee model. For example, in the case of non-VIP, the spot trading fee is split into a 0.1000% maker fee and a 0.1000% taker fee. This split percentage varies in the case of VIPs. There are VIP1, VIP2, and so on; the fee structure changes for each VIP.

Q2. Is Bybit safe?

Bybit has been around since 2018 and is considered a safe and secure platform for trading crypto.

It has various security measures like 2FA (Two-factor authentication), encrypted data transmission, advanced multi-signature combinations including Threshold Signatur Schemes, etc.

Plus, Bybit has a Proof of Reserve system and stores 100% of its client’s funds offline in cold wallets. Cold wallets are offline storage where cryptocurrencies are stored away from the internet to protect from the risk of hacking.

Bybit has deployed many security measures, but the platform has yet to introduce SAFU funds.

Q3. What is the most traded currency on Bybit?

As per the statistics, the most traded currency on Bybit is BTC/USDT, with a 24-hour trading volume of about $2.01 billion.

Q4. Does Bybit have a mobile app?

Yes, Bybit is available for mobile users as well. It has a Bybit app for Android users. Unfortunately, the platform has yet to launch an app that can be run on iOS.

Q5. Bybit is available in how many countries?

Bybit is available in over 230 countries. The platform offers services in Europe, Asia, Africa, Australia, and America.