Bybit CEO Ben Zhou: "Quiet Growth continues despite everything"
Despite all the difficulties of the bear market, the cryptocurrency exchange Bybit continues its growth at full speed, succeeding in increasing its futures volume from $2.8 billion to $2.8 billion, fivefold, according to data from CoinGecko.
This growth further consolidated Bybit's lead in the crypto futures arena, with futures and Coin-M Futures taking the second largest market share in terms of trading volumes. Bybit attributes this result to the introduction of many new trading products to users.
These products include trading bots, which are extremely suitable for 24/7 open crypto markets, where users can make the most of arbitrage opportunities and high volatility waves. In addition, there is the advanced Copy Trading product where 30,000 Bybit traders can instantly copy the moves of 10,000 expert traders.
In the last quarter of the year we left behind, Bybit, which went through a similar period with the crypto ecosystem in general, managed to increase its trading volume by more than 50%, according to the report published by the experts at CryptoCompare on digital assets. The same report also stated that, despite the bear market, Bybit increased its overall growth in each quarter of 2022.
Bybit CEO Ben Zhou: "Quiet Growth continues despite everything"
Another reason for the said growth indicator is the business partnerships Bybit has signed with very high-level corporate customers. Bybit's market maker support fund, which was put into use in the fourth quarter of 2022, has been fully completed and participation has reached 140 million dollars. Bybit also launched the industry's first 100% refund program for brokers in January.
CEO Ben Zhou shared his thoughts on building a highly resilient ecosystem and long-term growth rate. “We are in an extremely interesting period of the market cycle, where calm prevails among investors and developers. As Bybit, we not only rely on our ability to deal with future adversities, but also prove that we can use the opportunities presented in the bear market to emerge stronger from tough market conditions. New ideas often arise from misunderstandings.” He continued: “Opportunities filled with gains are not only seen in bull markets. Rational investors can also profit from price movements, that is, from volatility. Futures offers investors the tools to realize profits and reduce risk beyond simple spot price differences over time.
Regardless of the market conditions and comments, we believe that we have laid the foundations for silent and deep growth by further strengthening our experience in technology and our infrastructure ready to be adopted by the masses. We are working hard to be the bridge that connects retail investors to opportunities in crypto and the gateway to Web3.”
Zhou believes that in the long run, the broad masses will step into crypto. “The basis of this technology is decentralization, immutability and non-control. These features will revolutionize financial systems.” “This is why we are working hard to develop easy-to-use products for our customers so that they can easily enjoy the benefits of decentralized finance,” said Zhou.
As part of this mission, Bybit recently released the Crypto Investors Literacy Report. The report in question was an important step towards understanding the educational needs of the community of crypto investors and how the crypto industry can better serve these investors.
