In 2023, the popularity of cryptocurrency exchange Bybit in Russia increased after the departure of Binance. This platform in Russia began to process up to 20% of transactions with digital assets.
According to Kaiko, the Bybit exchange surpassed Coinbase in terms of trading volume and came close to Binance in the global market.
Bybit’s dominance increased from 8% to 16%.
Coinbase’s market share grew by only one point, while Binance’s dominance, on the contrary, decreased from 60% to 54%, Kaiko analysts emphasized.
Bybit’s press service confirmed that the number of users of this bitcoin exchange is increasing due to its comfortable service conditions.
The platform charges low transaction fees. Traders realize more than half of transactions with bitcoin (BTC) and ether (ETH).
As of June 25, Bybit ranks second after Binance in terms of cryptocurrency trading volume – $5.37 billion per day.