加密货币交易所Coinbase自10月以来已被Bybit在交易量上超越，根据分析公司Kaiko。
Coinbase(NASDAQ:COIN)has
been overtaken in trading volume by Bybit since October, according to a new report by analytics firm Kaiko. The report
highlights the impact of the launch of Bitcoin (BTC) exchange-traded funds (ETFs) in the US on crypto exchange volumes. Kaiko
notes that the launch of spot Bitcoin ETFs in the US has significantly boosted global crypto trading volumes. However, not all exchanges
have benefited equally from the rally that began in October. One exchange that
has stood out and made the most
gains is Bybit. Since October, the exchange's market share
has surged from 8% to 16%, surpassing Coinbase in March to become the second-largest exchange after Binance.
Notably, Coinbase's global market share
has seen only a minor increase of 1% over the same time period, despite reporting improving revenue and profits. According to Kaiko, several factors could be contributing to Bybit's growth, including its
low fees. However, other offshore exchanges like Binance and OKX also offer
low fees, and many exchanges
have ongoing zero-fee promotions and reward campaigns. For example, Bybit launched zero fees for USDC trading in February 2023, while Binance
has promoted TUSD and FDUS over the past year. This suggests that while
low fees contribute to Bybit's competitive edge, they are not the only reason for its rise. Kaiko also
notes that Bybit's growth
has been supported by its strong offering in Bitcoin and Ethereum (ETH) trading, with the exchange's market share of the two leading digital assets growing from 17% to 53% over the last 12 months. In addition to its spot market strength, Bybit
has also rapidly expanded its derivatives offering, cementing its place as the second-largest derivative market after Binance in 2023.
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