Bybit Records Daily Trading Volume Record Reaches 107 Billion US Dollars

Bybit crypto exchange. (Photo; Doc. Yahoo Finance)

JAKARTA - Bybit, one of the largest crypto exchanges in the world, set a new record with a daily trading volume of 107 billion US dollars (around Rp1,712 trillion). This figure is four times the daily volume of US$25 billion (around Rp400 trillion), confirming its position as global crypto market leader.

This surge in trading volume is driven by high activity in products such as percent, futures, spots, and operations. Bybit stated that this growth was thanks to the platform's strong infrastructure and commitment to provide the best trading experience.

To accommodate this increase, Bybit has increased trading capacity per Second (TPS) from 500,000 to 800,000. This step shows Bybit's focus on stability and high performance.

Launches Pre-Market Perpetual

Bybit also launched a new feature called Pre-Market Perpetuals, which allows merchants to transact with new tokens before they are officially available. Users can use leverage up to 5x, facilitating initial access and price risk management at launch.

Despite the great success, Bybit faces regulatory challenges in Europe. On August 1, 2024, Bybit announced it would stop its operations in France due to new regulations. Since August 2, users in France could only withdraw their funds. All open positions will be liquidated on August 13.

This decision was taken due to increased scrutiny from French regulators and the European Union's implementation of Markets in Crypto-Assets (MiCA) regulations. Bybit plans to return to the French market after obtaining the necessary licenses. Similar challenges are also faced in Canada and Britain, which resulted in a withdrawal from the market.

Bybit continues to be a major player in the crypto market, ranking second-largest by trading volume. Since its launch in 2018, the platform has offered various trade options such as futures, everydays, spot trading, and operations.

This platform serves more than 39 million users worldwide and supports various languages. Bybit prioritizes security with three-layer asset protection and strict privacy protocols. Customer support 24/7 is also one of its flagship features.

A record daily trading volume of 107 billion US dollars (around Rp1,712 trillion) shows Bybit's strength in the global crypto market. However, regulatory challenges must still be overcome with an appropriate strategy.