Bybit Doubles Trading Volumes After Bitcoin ETF Launch, Binance Losing Ground!

🚀 The launch of spot Bitcoin ETFs in the U.S. has significantly boosted global cryptocurrency trading volumes. Bybit capitalized on this, doubling its market share from 8% to 16%. This surge has positioned the platform as the second-largest in the world by this metric, trailing only Binance (54%). 💪

👀 Despite improvements in revenue and profit metrics, Coinbase's global market share increased by only 1% from October to March.

🤷 Notably, Binance's market share decreased from 60% to 54%, even though the exchange resolved all disputes with U.S. regulators by the end of 2023.

🔎 Analysts attribute Bybit's success to its competitive fees, which are among the lowest in the industry.