Bybit became the world’s second-largest crypto exchange, while the leading exchange, Binance, has lost some market share due to previous regulatory issues.centralized crypto exchange
Bybit’s growing market share could partly be attributed to Binance’s past regulatory issues, which caused the world’s largest exchange crypto exchange to lose some of its dominance over the industry.As Bybit’s market share has grown over 8% during the past eight months, Binance has been losing traction.
Despite the initial allegations, there was no evidence of user fund misappropriation. Binance remains the world’s largest crypto exchange by trading volume.Similar to other exchanges, Bybit introduced zero-fee trading for Circle's USD stablecoin in February 2023, which may have contributed to the increased trading volume.