What a tumultuous first half of the year! Given the volatile nature of the crypto markets, nobody can predict future events with any degree of certainty. In the month of May, many saw sudden spikes and crashes in Bitcoin and altcoins that made both buyers and sellers book losses.
Despite market volatility, it’s crucial to keep in mind what happened in early 2021. We saw a substantial and broad first-quarter bull run, a new all-time high for Bitcoin, endorsements of new institutional players, and a whole country, El Salvador, adopted Bitcoin as a legal tender.
For Bybit, the story has followed a similar pattern. The firm more than doubled its community to 2.5 million trading clients from over 200 countries.
Other Bybit milestones are:
- Exceeding $20 billion in ETH global volume.
- A new record daily trading volume of $76 billion.
- Over $4.9 million in global BTC open interest.
- More than $1 trillion in overall trading volume in Q1.
As Bybit continues to grow, the company is working on and expected to launch exciting products and services in H2 2021.
Find out what’s happening in Bybit biannual product launch with the CEO of Bybit, Ben Zhou
Cosmetic upgrades
Bybit is upgrading its UI, homepage design, logo and mobile interface so that everything is at the user’s fingertips.
Bybit logo is a symbol of what the company stands for. The company has revamped its logo to include a bolder, fresher spin on the brand, lifting the I to represent a candlestick graph representing the constant shift in the crypto market.
DeFi centre
DeFi is the game-changer in the crypto space and hence Bybit introduced its own DeFi centre called “Bi-Fi,” which is a portal to enable DeFi services like cloud mining services. This product was launched on 24 May 2021, causing contracts to sell out with every supply renewal.
WSOT 2021 Trading Competition
The company is looking to expand its trading competition which hosted 12,000 participants from around the globe with a price pool of 7.5million USDT, and NFT collectables.
Spot and Options Trading
Bybit is also venturing into spot and options trading. As a result, users can expect a full suite of both European and American options along with access to the best liquidity from both markets.
Quicker Withdrawals
Bybit users will also make withdrawals instantly, unlike currently, which is three times a day. All these updates and services will be available by the end of the year. So the crypto lovers across the globe will have their needs fulfilled at Bybit.