Auzzi Shopping

The Times Real Estate

.

Today's Features at Auzzi

Knuckle Boom Cranes: The Ultimate Guide to Versatility and Efficiency in Lifting

Knuckle boom cranes are a revolutionary type of crane that combines power and flexibility, making them indispensable tools in various industries. Their unique design, resembling the human ...

Beekeeping: A Rewarding Journey into Sustainable Agriculture

Beekeeping, or apiculture, is an ancient practice that has been crucial to both agriculture and the environment for thousands of years. In recent years, it has gained popularity not only a...

The Ultimate Guide to Hydraulic System Design for Industrial Applications

In modern industrial applications, hydraulic systems play a critical role in powering machinery, enhancing efficiency, and ensuring smooth operations. Whether in manufacturing, constructio...

Mistakes to Avoid When Purchasing Wholesale Packaging Supplies

Packaging is far more than just a protective layer for your products; it's a crucial component of your brand identity, customer experience, and overall business success. Opting for wholesa...

Protecting Your Financial Well-Being with TPD Insurance

Total and Permanent Disability (TPD) insurance is a must-have for the protection of financial interests that can be put at risk by unanticipated ill health. It pays a lump sum to individua...

Revolutionizing Silos Production: Superior FRP Technology for Diverse Industries

FRP (Fiber Reinforced Plastic) technology has brought astonishing innovations to storage. Conventionally, materials used for silo construction were steel and concrete, and there was limite...

The Importance of Tax Accounting in Modern Business

Accounting is the backbone of every successful business. It gives the financial information essential for decisions, performance monitoring, and legal compliance. In a fast-moving business...

Bybit Reports Surge in Trading Volume Amidst USDC Volatility

  • Written by Auzzi Shopping
  • 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: