Bybit Introduces Zero-Fee Structure for P2P Trading Amidst Rising Memecoin Trading Activity
In Brief
Bybit introduced a zero-fee structure for its P2P trading platform, eliminating fees for traders and optimizing profits.
Cryptocurrency exchange Bybit introduced a zero-fee structure for its peer-to-peer (P2P) trading platform. This initiative eliminates fees for both buyers and sellers, aiming to enhance cost savings and optimize profits for traders worldwide.
The new zero-fee model extends to all fiat trading pairs on its P2P platform, offering traders the opportunity to execute transactions without incurring any costs, ensuring that transactional expenses do not hinder the financial activities of both takers, responding to existing advertisements and makers, and initiating new trade opportunities.
The exchange, maintaining a 99.99% anti-fraud record, highlights its commitment to security through ongoing system refinement, risk control measures, and comprehensive user support.
Founded in 2018, Bybit is among the largest cryptocurrency exchanges by volume, serving a user base of 20 million individuals. The platform facilitates cryptocurrency trading, offering access to over 570 payment methods and supporting more than 60 local currencies. Furthermore, Bybit provides users with a streamlined three-step trading process aimed at optimizing efficiency.
Bybit Advances Amid Surge in Memecoin Trading Activity
The introduction of a new feature for Bybit’s trading platform aligns with a broader cryptocurrency market resurgence, especially amid heightened interest in meme coins.
Last week, the surge in trading and speculation surrounding memecoins on the Solana (SOL) blockchain has driven on-chain volumes to reach a new all-time high in US dollars.
Fueling activity on Solana, the latest token attracting attention for its remarkably high return-on-investment figures, Book of Meme (BOME), recently debuted on cryptocurrency exchange Binance and has witnessed a surge of approximately 1500% in value since its inception just a few days ago.
“The creator of the wildly popular Book of Meme (BOME) token has stated that this memecoin is an art project, and Bybit users traded $150 million in the volume of this coin just today. Indeed, the message of memecoins is clear: if central banks can create valueless paper money out of thin air, so can we,” said Nathan Thompson, lead tech writer at Bybit to MPost.
Simultaneously, presales have experienced significant growth in recent days. An artist operating under the pseudonym Kero initiated a presale by sharing a wallet address, which quickly accumulated funds, ultimately reaching nearly 55,000 SOL, which is equivalent to approximately $10.66 million at current prices. Additionally, dog-themed Solana-based memecoins like Dogwifhat (WIF) and Bonk (BONK) remain active, continuing to generate significant trading volumes amidst the ongoing creation of new memecoins in real-time.
With the introduction of a zero-fee structure for its P2P trading platform, Bybit aims to enhance traders’ experience amid the increasing trading activity following the surge in memecoin popularity.
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Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at alisa@mpost.io
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Alisa is a reporter for the Metaverse Post. She focuses on investments, AI, metaverse, and everything related to Web3. Alisa has a degree in Business of Art and expertise in Art & Tech. She has developed her passion for journalism through writing for VCs, notable crypto projects, and scientific writing. You can contact her at alisa@mpost.io
