Bybit Surpasses Coinbase to Be World’s Second-Largest Crypto Exchange

Bybit surpassed Coinbase in March to become the world’s second-largest cryptocurrency exchange after Binance, according to a report from crypto research firm Kaiko.

The launch of spot Bitcoin exchange-traded-funds in the US helped Bybit double its market share to 16% in March from 8% in October 2023. Coinbase didn’t benefit nearly as much, however, and only saw a small increase of 1% over the same span, Kaiko’s data show.