Singapore-based crypto derivatives exchange Bybit Continuing its momentum for growth, Bybit has enriched its USDT perpetual trading catalog with an addition of four pairs, bringing the total coverage to include five distinct cryptocurrencies.
This move by Bybit is poised to further ignite interest in crypto derivatives, a sector witnessing unprecedented growth and becoming a lucrative focus for traders worldwide.
Bybit Introduces Four Additional Crypto Pairs for USDT Perpetual Trades
Bybit News of Bybit's expanded USDT trading came through an announcement made on October 21, disclosed in a press release shared with Blockonomi. The statement highlighted Ethereum as among the new assets available for USDT trades. ETH ), Chainlink ( LINK ), Litecoin ( LTC ), and Tezos ( XTZ These newly unveiled pairs join the existing lineup inclusive of BTC/USDT, BTC/USD, ETH/USD, XRP/USD, and EOS/USD perpetual contracts, as previously discussed by Blockonomi.
The platform initiated its USDT perpetual contracts trading in March 2020. introduced The recent announcement also unveiled that Bybit's decision to broaden its USDT offering was fueled by the rising user base on the platform. Bybit’s CEO, Ben Zhou, commented:
Driven by high demand, we are elated to introduce four additional USDT pairs. Our commitment is to offer these polished products from the get-go, ensuring the same level of liquidity our traders have come to expect from Bybit.
Initiatives for Traders and Enhanced Fiat Accessibility
In an effort to stimulate activity on these new pairs, Bybit has also implemented a lottery program along with fee reductions. Furthermore, the platform’s referral scheme offers up to a 20% discount on trading fees for successful referrals.
Bybit’s strategy of incentivizing its user base is well-established, having previously utilized such approaches when launching USDT perpetual contracts in March.
The broadened market for USDT perpetual contracts marks the latest enhancement undertaken by Bybit. In August, the platform Tether airdrop campaign which saw active users win up to 1,000 USDT.
expanded its supported fiat currencies from 23 to 43, enhancing its stature as a increased spotlighted event—the inaugural World Series of Trading (WSOT) contest, offered winners a staggering prize pool of $1.27 million. The exchange also fiat-to-crypto gateway service .
Bybit also recently concluded donated approximately $100,000 from the event’s proceeds to UNICEF to support vulnerable children adversely impacted by the COVID-19 crisis. donated Osato is a dedicated Bitcoin aficionado who frequently shares insightful commentary on the latest happenings in the Bitcoin scene. When not following industry stories, he can be found trying to outdo his previous Scrabble score or grappling with philosophical musings. Reach [email protected]
