tl;dr
Crypto exchange Coinbase has been surpassed in volume by Bybit since October, according to analytics firm Kaiko. Bybit's market share surged from 8% to 16%, overtaking Coinbase in March to become the second-largest exchange after Binance, due in part to the launch of Bitcoin exchange-traded funds (E...
Bybit has surpassed Coinbase in trading volume, propelled by the launch of Bitcoin ETFs in the US. Its market share surged from 8% to 16%, overtaking Coinbase to become the second-largest exchange after Binance. Bybit's growth is attributed to its low fees, Bitcoin and Ethereum trading, and rapidly expanding derivatives offering.
Crypto exchange Coinbase has been surpassed in volume by Bybit since October, according to analytics firm Kaiko. Bybit's market share surged from 8% to 16%, overtaking Coinbase in March to become the second-largest exchange after Binance, due in part to the launch of Bitcoin exchange-traded funds (ETFs) in the US. Bybit's low fees, growing spot market share for Bitcoin and Ethereum, and expanding derivatives offering have contributed to its rise, suggesting a competitive edge beyond fees.
In a new report, Kaiko says that the launch of Bitcoin exchange-traded funds (ETFs) in the US has helped Bybit more than others in its push for market dominance. Bybit’s low fees could be a key factor behind its growth, according to Kaiko. Bitcoin and Ethereum trading have also aided Bybit’s growth as the exchange’s market share of the two leading digital assets has grown from 17% to 53% over the last 12 months.
Bybit’s growing spot market share has also been supported by its rapidly expanding derivatives offering, cementing its place as the second-largest derivative market after Binance in 2023.
More about IRSA Inversiones Y Representaciones
Stock: IRSA Inversiones Y Representaciones
Sector: Real Estate & Construction
Industry: Land Subdividers & Developers (No Cemeteries)
Market Cap: 101.94 billion
Dividend Yield: 8.7
Price/Earnings: 88.47
Price/Book: -2.35
EPS: 1607.04
ROE: -1.37%
Volume: 119,723,999,000
Beta: 0.45
Volatility: -0.067
More about Emeren Group Ltd
Emeren Group Ltd
ReneSola Ltd develops, builds, operates and sells solar energy projects. The company is headquartered in Stamford, Connecticut.
Industry: MANUFACTURING, SEMICONDUCTORS & RELATED DEVICES
Stock Symbol: 84777000
Previous Close: -0.16
Opening Price: 1.918
Day's Range: -0.127
Volume: 106582000
Market Cap: 4.88
PE Ratio (TTM): 3.42
EPS (TTM): 0.148