Business Daily Media

Men's Weekly

.

Bybit Reports Surge in Trading Volume Amidst USDC Volatility

  • Bybit's spot market volume for USDC grows by 1,437%
  • Bybit becomes No.2 crypto exchange in MENA

DUBAI, UNITED ARAB EMIRATES - Media OutReach - 17 March 2023 - Bybit reports a surge in volume for USDC pairs as the world's third most visited crypto exchange ramps up efforts to meet market demands. Relying on trusted platforms to navigate the recent crypto and banking volatility, customers are turning to Bybit for its rock-solid security and market depth.

Bybit's spot market volume for USDC grew 1,437%, with USDC contribution to the total spot trading volume rising from 8% to 40%. Bybit's perpetual market saw the daily trading volume of the USDC/USDT pair exceeding $380 million, and the annualized funding rate reaching as high as 740%.

Bybit's success is a testament to its rapidly expanding user base, and the trust traders, institutions, and investors put in the platform. Bybit's battle-tested trading engine, proof of reserves, and sound risk management have seen the crypto exchange grow its market share throughout 2022 despite challenges — a trend that continues in 2023.

To optimize the trading experience and flexibility in portfolio management, Bybit is now offering zero fees on its options contracts and zero fees on all USDC Spot pairs and major stablecoin pairs such as USDC/USDT, BUSD/USDT, DAI/USDT, and WBTC/BTC.

While long-term issues affect the legacy financial system, the crypto exchange has been offering new alternatives from the world of Web3 including Bybit Wallet, which allows users to access decentralized finance apps while keeping their funds safe in custody. The newly launched Bybit Card, a debit card powered by the Mastercard network, allows users to off-ramp crypto into fiat to easily make purchases or take out cash from ATMs. The digital card is already available with preorders for the physical card commencing March 17.

Bybit has also announced the plan for a new headquarters in Dubai in spring 2023. With more than 400 crypto and blockchain businesses operating in the Middle East's burgeoning digital assets hub, Bybit has taken the No.2 spot among exchanges in the region. In just under a year, Bybit has generated $33.5b in trading volume across the Middle East and North Africa and is on track to double that figure in 2023.

"One thing we do well at Bybit is to Listen, Care and Improve. It is our job to be there for our customers when they need us the most. And we are able to support the surge in volumes in volatile markets because of years of building on platform integrity, fund safety, security, product integrations and risk management. We are determined to empower our customers with next-level products such as AI trading bots, easy fiat conversions, and proof of reserves," said Ben Zhou, co-founder and CEO of Bybit. "Bybit is the choice of reliability and transparency in times of high volatility, and these are qualities that will steer Bybit towards its goal of becoming the go-to 'Crypto Ark' for investors worldwide," he said.

Hashtag: #Bybit #TheCryptoArk

The issuer is solely responsible for the content of this announcement.

About Bybit

Bybit is a cryptocurrency exchange established in 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent 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, esports teams NAVI, Astralis, Alliance, Made in Brazil (MIBR), and Oracle Red Bull Racing Esports, and association football (soccer) team Borussia Dortmund.

For more information please visit:

For updates, please follow:










News from Asia

XCoffee Launches the Region’s First AI-Powered Smart Robotic Beverage

SINGAPORE - Media OutReach Newswire - 10 October 2025 - XCoffee, a Singapore-based beverage technology company, unveiled the latest evolution of its AI-powered smart robotic beverage, reinforcing ...

Jollibee Group Named Among Top Global Restaurant Brands for Sustainability Perception Value

Jollibee Group also ranked #1 in Brand Finance 2025 Sustainability Perceptions Index among all Philippine companies MANILA, PHILIPPINES - Media OutReach Newswire - 9 October 2025 - Jollibee Group...

The G-DRAGON 2025 WORLD TOUR [ÜBERMENSCH] IN HANOI - Day 2 Tickets Now On Sale At 8Wonder Ocean City

HANOI, VIETNAM - Media OutReach Newswire - 10 October 2025 - The Vietnamese music scene is experiencing an unprecedented seismic event: G-DRAGON has assented to fan demands, officially announcing...

XIXILI Unveils Pinktober Campaign in Honour of Breast Cancer Awareness Month

KUALA LUMPUR, MALAYSIA - Media OutReach Newswire - 11 October 2025 - For XIXILI, support is more than a design principle; it is a mission woven into every seam. In conjunction with Breast Cancer A...

Haikou, China: Where the City Becomes a Stage, and Art Belongs to All

HAIKOU, CHINA - Media OutReach Newswire - 11 October 2025 - From September 28 to October 8, Haikou, the capital of China's Hainan Province, won global attention with its colorful public art activi...

VinFast sets national record, surpasses 100,000 vehicles sold in just three quarters

HANOI, VIETNAM - Media OutReach Newswire - 11 October 2025 - VinFast has officially become the first automobile brand in Vietnam to surpass 100,000 vehicle sales within the first three quarters o...

Linyi international sourcing conference enhances global trade links

LINYI, CHINA - Media OutReach Newswire - 11 October 2025 - The 3rd Linyi Trade City International Sourcing Conference for Belt and Road Cooperation kickstarted a global trade extravaganza on Oct 1...

CGTN:How China is empowering women and advancing 'her power'

BEIJING, CHINA - Media OutReach Newswire - 11 October 2025 - An article published by CGTN highlights China's upcoming Global Leaders' Meeting on Women in Beijing, marking 30 years since the 1995 B...

B.Grimm Power Joins Hands with Sawasdee Seoul Thai Festival 2025

Celebrating Thai Culture and Soft Power on the Global Stage While Highlighting the Success of Korea’s Clean Energy Transformation BANGKOK, THAILAND - Media OutReach Newswire - 9 October 2025 - B.G...

VIVANT Launches Wine App to Enable Wine Lovers with AI-Powered Sommelier Guidance

New app pairs with VIVANT’s award-winning precision wine accessories to enable smart wine ecosystem SINGAPORE - Media OutReach Newswire - 13 October 2025 - VIVANT, a pioneer in wine temperature t...

Qantas to Serve Nan’s Davidson Plum Cookie

Lake Macquarie, NSW (Awabakal Country): From a single mother’s kitchen bench to supermarket shelves, Wiradjuri entrepreneur Terri-Ann “Tezzi” Dani...

Minns Labor Government shutting down the Business Connect program

The NSW Opposition is concerned that the Labor government will shut down a support program that has assisted New South Wales businesses. In a media ...

Samsara Eco appoints Dr. Lars Kissau as General Manager for Asia

Australian biotech innovator Samsara Eco has announced the appointment of Dr Lars Kissau as its first General Manager of Asia. Based in Singapore...

From the first bounce to the final siren - small business lessons from the AFL Grand Final

The AFL Grand Final is one of the most anticipated days on the sporting calendar. This Saturday, the Geelong Cats and Brisbane Lions will battle i...

Australia’s top finance leaders recognised as CFO role expands

Amid surging regulatory demands and rapidly evolving industry, Australia’s most influential Chief Financial Officers will be honoured at the inaug...

Why outdated security leaves small businesses exposed to crime

Small and medium businesses in Australia are under increasing pressure to address security gaps that criminals readily exploit. An unlocked door, an...