DUBAI, UAE, July 25, 2024 /PRNewswire/ — Bybit, the world’s second-largest crypto exchange by trading volume, today announced it has reached the second place in the derivatives market, according to the latest CoinMarketCap figures, solidifying its status as the world’s second-largest crypto exchanges by trading volume. This significant achievement underscores Bybit’s commitment to providing a superior trading experience for its users.
“We are incredibly proud to reach this milestone,” said Joan Han, Sales & Marketing Director at Bybit. “Our ascent to the No. 2 position in the derivatives market is a testament to our relentless focus on innovation and user satisfaction. By continually improving our product offerings, we empower our users with the tools they need to execute trades more effectively.”
Bybit attributes its success in the derivatives market to several key factors, including:
- The Power of the Unified Trading Account (UTA): The UTA revolutionizes crypto trading by offering an all-in-one account that streamlines the experience and empowers users to manage their finances and risk effectively. It eliminates the need to switch between separate accounts for spot trading, margin trading, perpetual contracts, options, and futures. This versatility allows for unparalleled flexibility, including cross-margin trading with over 160 tokens. Users can even leverage unrealized profits to open new positions, maximizing their capital efficiency. The statistic that 96% of Bybit Institutional Investor Services (INS) clients utilize the UTA for their trading activities speaks volumes about its effectiveness.
- Enhanced Product Offerings: Bybit prioritizes the development of cutting-edge trading features. The introduction of Iceberg Order and Websocket Order placement exemplifies this commitment, providing users with greater control and flexibility over their trades.
- Advanced Risk Management Features: Bybit prioritizes user safety and security. The exchange implements features like delayed auto-repayment and automatic risk limit tier adjustments, empowering users to manage their risk profiles effectively.
Bybit’s ascent to the No. 2 position in the derivatives market signifies the exchange’s dedication to becoming the premier destination for all crypto communities. With a relentless focus on innovation, user-centric features, and robust safety and risk management tools, Bybit is poised to continue its impressive growth trajectory.
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About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving over 37 million users. Established in 2018, Bybit provides a professional platform where crypto investors and traders can find an ultra-fast matching engine, 24/7 customer service, and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions: the Oracle Red Bull Racing team.
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