Bybit, the fastest growing cryptocurrency exchange, won the Best Crypto Exchange Award at Crypto Expo Dubai (CED) 2022 on Thursday. Now the third most visited exchange in terms of web traffic, Bybit has more than doubled its user base since it last participated in CED six months ago.
The award is testimony to Bybit’s meteoric rise from a niche but formidable derivatives trading platform in 2018 to a fully fledged exchange for all crypto traders — all 6 million of them — of varying risk appetites and skill levels. Backed by its powerful matching engine and robust infrastructure, the platform sailed through the high seas of crypto’s historic trading frenzy in May 2021 unscathed with an up rate of 99.9%.
Bybit joined hundreds of speakers, founders and crypto fans at CED 2022 connected by a colorful vision for the future of blockchain technology.
“The original promise of the internet was to create a level playing field for all,” and somehow web 2.0 was led astray from that vision, said Igneus Terrenus, head of communications at Bybit. “What web3 and the metaverse could do is to give power back to the individual,” he shared at a panel on what the future holds for crypto after the metaverse.
According to him, blockchain could also help us save the world from an impending climate disaster. Existing carbon credit models have a greenwashing problem, and distributed ledger technology could plug the loopholes.
“This is where blockchain can come in to monitor and assess real progress in carbon reduction and carbon capture. And NFTs are about ownership and bragging rights as much as they are tradable assets and financial instruments. These technologies can play a role in addressing the biggest problems of our generation. And if we don’t, we are kicking the can down the road at our own peril,” said Igneus Terrenus.
Bybit also recreated part of its NFT universe in physical form at CED 2022, showcasing interactive metaverse creations, select artists and projects from the Bybit NFT Marketplace.
Crypto Expo Dubai 2022 drew to a successful close on March 17 after an action-packed two days featuring blockchain projects and crypto units from around the world.