CoinQuora Exclusive: ByBit to Take 50% of Crypto Options Market in 18 Months

Bybit Head of Communications Igneus Terrenus proudly claimed that the company can get 50% of the Options Exchange market share within 18 months. In an interview with CoinQuora at Crypto Expo 2022, Terrenus revealed the company’s plan for the future. 

Bybit is looking forward to an Options Exchange. Currently, 80% of the world’s crypto options have been on Deribit. Bybit brought together an A-Team and the exchange is already on the testnet. Terrenus claimed that the team has tested every metric and has surpassed Deribit in every single one.

“We brought together an A-Team and [the exchange] is already on the testnet. We’ve tested it in every metric and we do better than Deribit. Internally, we think we can take 50% of the market share in 18 months.”

Moreover, the company is also launching MT4 integration, a pool often used by Forex traders or people who trade commodities. By this, Bybit intends to make the exchange more accessible to people all over the world.

In the recent Crypto Expo held in Poland, Bybit received the Best Cryptocurrency Market Exchange Award. In reference to the award, Terennus responded that it was good to be recognized for the efforts they put in. “Unlike our colleagues in the industry, we take a really long-term view. So instead of focusing on quarter-to-quarter, sometimes our measurements of success use units such as decades.”

Terrenus further added that Bybit wants to be here for decades to come and empower users to achieve what they want for themselves.

Furthermore, when asked about the Crypto Expo event in Dubai, he opined that it is the largest dedicated crypto event in the region. Terrenus also said that it is always good to meet some of the blockchain industry players. As there are several large exchanges in the event, there are chances for every firm to learn about each crypto exchange and its exhibitions.

Deribit is a crypto derivatives exchange that offers perpetual swaps, futures, and options on Bitcoin and Ethereum networks. It is one of the leading derivatives exchanges because of its professional trading dashboard, which is combined with low latency and deep liquidity in the market.

Bybit is acclaimed to be one of the leading cryptocurrencies in the world with over 2 million registered users. By integrating a blockchain system, Bybit supports multiple blockchains and tokens. At first, Bybit started a derivatives exchange – now it is among the top 10 exchanges in the world. 

Crypto Expo 2022 at Festival Arena in Dubai showcased several crypto-blockchain firms. There were panel discussions and short presentations by the crypto firms on various blockchain-related topics. Moreover, crypto firm booths gained visitors’ attention, who were exploring the latest trends and innovations in the blockchain industry.