Bybit, a leading cryptocurrency derivatives exchange, has experienced a surge in trading volume as a result of the recent volatility in the USD Coin (USDC) market. This comes as USDC, a stablecoin pegged to the value of the US dollar, has seen a significant increase in trading activity amid wider market uncertainty. Bybit’s strong performance during this period reflects the growing appetite among traders for exposure to digital assets and the potential for significant returns in a rapidly-evolving market. The exchange’s ability to handle high volumes of trading activity quickly and efficiently has made it a popular choice for both experienced and novice traders alike.
Bybit, the world’s third most visited cryptocurrency exchange, has reported a significant surge in its USDC pairs trading volume as it strives to meet market demands. Customers are turning to Bybit, which has solid security and market depth, to navigate through recent crypto and banking volatility. Bybit’s spot market volume for USDC has surged by 1,437%, with USDC’s contribution to the total spot trading volume rising from 8% to 40%. Bybit Wallet, the platform’s recently launched cryptocurrency wallet, allows its users to access decentralized finance apps whilst ensuring the safety of their funds, and its new debit card, Bybit Card, allows users to off-ramp their crypto into fiat with ease. Bybit is set to have its new headquarters in Dubai by spring 2023, becoming the No.2 crypto exchange in the Middle East and North Africa (MENA). Bybit has generated $33.5bn in trading volume across MENA in under a year and is on track to double it in 2023.