Bybit, a leading global cryptocurrency exchange, has achieved a significant milestone by surpassing 40 million users.
This rapid growth comes after the platform gained an impressive 10 million new users in less than a month, highlighting its increasing popularity in the crypto space.
The crypto exchange, known for its user-friendly platform and comprehensive trading options, now ranks as the second-largest exchange by market share, trailing only Binance.
Bybit’s rapid expansion is underscored by its substantial trading volumes, with the platform averaging a daily trading volume of $25 billion and recently hitting an all-time high of over $100 billion.
This milestone was widely celebrated within the cryptocurrency community, particularly among Nigerian crypto enthusiasts.
Many took to social media platforms like X (formerly Twitter) to share the news, accompanied by infographics showcasing Bybit’s growth trajectory.
The achievement reflects the platform’s growing influence, especially in markets like Nigeria, where it remains one of the few exchanges offering Peer-to-Peer (P2P) trading services.
Bybit’s co-founder and CEO, Ben Zhou, expressed pride in the company’s accomplishment, emphasizing that while reaching 40 million users is a monumental achievement, it also comes with the responsibility of maintaining a seamless and secure user experience.
Bybit’s commitment to innovation and transparency has been key to its success, positioning it as a major player in the ongoing development of the blockchain and cryptocurrency ecosystem.
Despite its success, Bybit has faced criticism, particularly in Nigeria, where its P2P section has been flagged for issues with scammers and bad actors.
The local Web 3 community has raised concerns about the platform’s security measures, calling for stricter enforcement to protect users.
