One of the major cryptocurrency exchanges named By bit surpasses 10 billion dollars in just 24 hours. In the year 2020, by bit has revealed the growth arc, which includes more than 50000 active users in a month. By bit was launched in December 2018, and since then, it has observed a remarkable increase in the volume.
Undoubtedly, 2020 is one of the most unprecedented years of the whole decade, and it will be known for the global pandemic. The new coronavirus has spread globally, resulting in lockdown in numerous countries. Each of our daily life activities was prohibited during the lockdown. From transportation to infrastructure, every sort of motion was restricted.
Amidst the corona pandemic, a great effort was observed in the trade competition by the crypto exchange By bit. This cryptocurrency exchange is severely making efforts by donating 5% of the total prize money for UNICEF’s funds.
Many ups and downs in the financial market have been observed this year. Despite all the fluctuation in the financial market, Bitcoin has managed to shore in the sea of cryptocurrency exchanges. As of March 2020, the cryptocurrency market has crashed but somemanagednage to reach a high record of $20,000 in December 2020.
Mass user registration
Many users have registered in By bit, resulting in more than a million and 50000 active users in a month. Due to many end-users, different languages have been included on vibrate, such as Japanese, Spanish, Russian, Korean, and many more. Currently, numerous initiatives like trade competition are going on to increase its registered users.
In the year 2020, By bit has added some new services and features that will play a significant role. By bit launched a mobile application for its better reach amongst users and empowered them for exchanges.
In the third quarter, they expanded their service by enabling USD futures and appended ETH, LTC, LINK, and XTZ as USD pairs.
Difference between 2017 crypto bubble
Due to immaturity in the market and an increase in market-rate three years ago, there was a rise in BTC prices. Eventually, a vast number of institutional investors signed the Bitcoin market at that time.
By bit is one of the recent cryptocurrency exchange and seeing an incremental graph of investors and traders. Globally, the legitimacy of cryptocurrency is under-recognition.
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