Blockchain Press Releases
Cheaper and Safer Sodium-Ion Batteries on the Horizon, Reports IDTechEx
BOSTON, July 14, 2023 /PRNewswire/ —
Diversification in the Energy Storage Industry Is Foreseeable
As the world progresses rapidly towards electrification, the energy storage industry is increasingly reliant on critical raw materials such as lithium and cobalt. Diversification of battery chemistries is critical for long-term capacity growth. It should be self-evident that no single battery chemistry possesses all the attributes for every single application – each market has its nuances and requires unique solutions. The sodium-ion (Na-ion) chemistry will certainly not be the answer for all applications; however, it will be well-suited to complement, rather than displace, the existing and future lithium-ion technologies in many applications. Concerns of energy security and geopolitical considerations in the supply chain also drive nations without local access to lithium-ion raw materials to seek alternative chemistries to meet energy storage demands.
Small Pilot Plants and Big Plans
Currently, mainly pilot plants are running, and a few smaller factories are starting up, which only produce a few gigawatt hours (GWh) of Na-ion batteries per year, but the capacities that have been publicly announced by various raw material manufacturers alone add up to well over 100 GWh over the next three years. However, once the production processes are known, it takes less than two years to build up further capacities. By 2025, significantly more capacity can be built up than has been financed so far if investors are found for it in the course of 2023. The forecast of a radical conversion of a large part of the industry to a new technology in a few years may sound bold, but in the last five years alone, this has happened twice in the battery industry with NMC811 and LFP. Na-ion requires hardly any new plant technology, just different starting materials and production parameters. The latest report from IDTechEx, “Sodium-ion Batteries 2023-2033: Technology, Players, Markets, and Forecasts“, covers the global commercialization efforts of Na-ion batteries by analyzing patents and finds that China is taking the lead once again.
Outlook: Demand Not Limited by Lack of Raw Materials
IDTechEx forecast that by 2025, around 10 GWh of Na-ion batteries will be installed as significant manufacturing capacities come online and existing Li-ion lines are converted to Na-ion production. Success (or failure) for one player can significantly impact the market. A CAGR of 27% is expected for the period 2025-2033. Growth follows a similar market growth rate as that of Li-ion batteries. Over the next 10 years, the addressable markets will likely be far higher than the expansion of Na-ion supply chains and manufacturing capacities or even demand. But there may be potential for more rapid growth than forecast once the technology is trusted, qualified, bankable, available, etc. Importantly, Na-ion is a drop-in technology to Li-ion’s current production lines. Gigafactories can be retrofitted to produce Na-ion cells relatively quickly. The production capacities of the material manufacturers also indicate that significantly more companies will build their own sodium batteries in 2024 and that there could be much larger capacities in 2025.
Significant Savings Over LFP Are Unlikely Initially
There is currently no cost-effective battery technology with an energy density between lead and lithium batteries. According to IDTechEx research, the average cell cost for Na-ion batteries is US$87/kWh taking different chemistries into account. By the end of the decade, the production cost of Na-ion battery cells using primarily iron and manganese will probably bottom out at around US$40/kWh, which would be around US$50/kWh at the pack level. Na-ion cells are likely to come at a price premium initially, but IDTechEx expect a drop in cost/price in the short term through manufacturing efficiencies, scale, and technology development. However, long-term cost reductions become harder as technology and manufacturing become more established and mature. The IDTechEx report includes modeling of various Na-ion chemistries with a breakdown of the material and prices.
Sodium Is Not the End for Lithium
For most EVs, volumetric energy density is the first or second priority because the more space a battery cell takes up for a given energy density, the fewer cells you can squeeze under a vehicle, limiting range. For grid storage, the space that the battery packs take up doesn’t affect their commercial viability, and the priority is the cost per kWh per cycle. Commercial energy storage is all about cost control, and this is where sodium ions can potentially dominate other chemistries. The greatest potential in transport applications for Na-ion batteries exists wherever the energy density of lithium batteries is not fully utilized. This includes almost all electric cars with a so-called standard range, i.e., reduced battery capacity compared to more expensive models of the same construction. There, sodium batteries with higher charging speeds and less capacity loss in cold temperatures could represent a very attractive alternative. Above all, thanks to this alternative energy storage technology, lithium batteries will be available where they are truly indispensable.
To find out more about the IDTechex report “Sodium-ion Batteries 2023-2033: Technology, Players, Markets, and Forecasts“, including downloadable sample pages, please visit www.IDTechEx.com/Sodium.
About IDTechEx
IDTechEx guides your strategic business decisions through its Research, Subscription and Consultancy products, helping you profit from emerging technologies. For more information, contact [email protected] or visit www.IDTechEx.com.
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Blockchain Press Releases
Bybit Surpasses 70 Million Users, Reinforces Commitment to Transparency and Institutional Growth
DUBAI, UAE, May 9, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, today announced it has surpassed 70 million registered users, a milestone that highlights the platform’s sustained global growth and deepening trust among both retail and institutional clients. This achievement underscores Bybit’s robust market presence and its steadfast commitment to security, compliance, and product innovation.
“Reaching 70 million users is more than a number—it’s a testament to the trust our global community places in us,” said Ben Zhou, co-founder and CEO of Bybit. “We are doubling down on compliance, institutional-grade infrastructure, and user-centric innovation to ensure everyone—from first-time traders to global institutions—can access the future of finance with confidence.”
Strengthening Global Compliance and Regulatory Engagement
Bybit continues to expand its global compliance framework, working closely with regulators around the world. Most recently, Bybit held strategic discussions with Vietnam’s Ministry of Finance, contributing to the country’s regulatory sandbox initiative by sharing expertise in KYC, AML, and international best practices.
Bybit has also made key progress in major jurisdictions, including the United Arab Emirates, further demonstrating its commitment to regulatory alignment and operational transparency.
Accelerating Institutional Growth
Bybit is seeing rapid growth among institutional clients, driven by high-performance trading infrastructure, advanced risk controls, and strategic partnerships. The integration with Zodia Custody—a leading provider of institutional-grade custody and off-venue settlement solutions—reflects Bybit’s ongoing efforts to meet the needs of sophisticated investors with robust, compliant offerings.
Pioneering Web3 Integration and Real-World Utility
Bybit continues to lead in practical Web3 innovation. The Bybit Card, now used by nearly 2 million people, enables everyday crypto spending, while Bybit Pay streamlines on-chain and off-chain transactions for both users and merchants.
In line with its user-first philosophy, Bybit is also leveraging artificial intelligence to enhance trading, research, and support services. CryptoLens, an in-house AI analytics tool, offers users deep insights into token fundamentals, community activity, social trends, and tokenomics—even for projects not listed on the platform. TradeGPT, an AI agent trained on Bybit’s proprietary data, delivers rapid price action summaries and technical analysis, helping traders make smarter decisions. Complementing these innovations, an AI Support Agent enhances customer service by improving response efficiency and user experience across the platform.
Bridging Traditional Finance and the Future of Digital Assets
Bybit remains committed to its role as #TheCryptoArk—a safe, trusted bridge from traditional finance into the world of Web3. Through intuitive products, regulatory collaboration, and cutting-edge technology, Bybit empowers users of all levels to navigate and thrive in the digital asset ecosystem.
“We’re building the infrastructure for the next era of finance,” Ben added. “By championing regulation, professionalism, and a relentless user-first approach, we’re shaping a safer, more inclusive, and more empowering financial future for all.”
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 70 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open, and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For updates, please follow: Bybit’s Communities and Social Media
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Blockchain Press Releases
Unleashing the Power of Futures Combo Bots on Bybit: Leveling up Futures Trading with More Rewards
DUBAI, UAE, May 9, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, Futures Combo Carnival, a month-long trading event rewarding both new and experienced Futures Combo traders with multiple rewards tracks. Trading thresholds start at 300 USDT with rewards of up to 500 USDT in prizes weekly.
The largest Futures Combo campaign on Bybit to date, the Carnival gives traders even more reasons to make their futures trading journey hassle-free and more rewarding. Bot-enabled automated trading is becoming the norm among strategic traders in a turbulent market, where no traders can afford manmade mistakes or delays in execution.
Bybit’s Futures Combo Bot is a powerful tool for streamlining users’ futures trading experience, empowering them to build portfolios and rebalance positions across multiple futures contracts. The innovative solution allows traders to set up a Bot within minutes, minimizing manual management of complex trading strategies, and achieving both efficiency and flexibility when managing combos of futures contracts.
From now to Jun. 9, 2025, eligible Bybit users may take part in two events with a welcome bonus for first-time users:
- The Combo Battle offers newcomers who achieve a trading volume of 300 USDT an immediate 5 USDT Bot Bonus on a first-come, first-served basis, while experienced traders can earn lucky draw tickets by reaching volume milestones of 1,000 USDT and 2,500 USDT respectively using Bybit’s Futures Combo Bot.
- The Combo Challenge invites Mandarin-speaking Key Opinion Leaders to create and share their trading strategies on social media using the hashtag #ComboChallenge, with three weekly winners receiving 500 USDT each.
Bybit is committed to making futures trading more accessible to users looking to diversify their trading strategies. With rewards designed for both newcomers and experienced traders, this event strengthens community engagement while supporting users wherever they are on their trading journey. For more details and terms and conditions, users may visit: Bybit Futures Combo Carnival
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
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Blockchain Press Releases
Bybit Unifies Loan Products to Enhance Capital Efficiency for Crypto Traders
DUBAI, UAE, May 9, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is enhancing the user experience and capital efficiency of its lending products by integrating Crypto Loans (flexible loans) and Fixed Rate Loans into a single, streamlined interface.
The integration introduces a unified platform for both loan types, enabling users to compare, manage, and optimize their borrowing strategies with greater ease. All loan products are now accessible under the Crypto Loans page, with a redesigned layout that prioritizes usability and transparency.
“Our goal is to simplify how users interact with our lending products while enhancing their capital flexibility,” said Emily Bao, Head of Spot at Bybit. “By consolidating management tools and aligning risk models, we’re giving our users more control and clarity over their borrowing activity.”
Key upgrades include:
- Unified Cross Margin Model: Both flexible and fixed-term loans will now operate under a shared cross-margin system, allowing users to benefit from consolidated Loan-to-Value (LTV) ratios — set at 80% (initial), 85% (margin call), and 92% (liquidation).
- Shared Collateral: Collateral can now be used interchangeably across both loan types, enabling more agile capital deployment.
- Tiered Collateral Ratios: All supported assets will follow a tiered collateral system, reflecting each asset’s risk profile — consistent with the structure previously applied to Fixed Rate Loans.
- Updated Interest Calculation: Interest will be calculated hourly using a compounding method: total debt (principal + accrued interest) multiplied by the hourly interest rate.
Existing loan orders will remain unaffected, continuing under their original terms and conditions. For users seeking further information, detailed guides on both Fixed Rate Loans and Crypto Loans are available via the Bybit Help Center.
This strategic move reaffirms Bybit’s commitment to innovation and user empowerment in the evolving digital asset economy.
#Bybit / #TheCryptoArk
About Bybit
Bybit is the world’s second-largest cryptocurrency exchange by trading volume, serving a global community of over 60 million users. Founded in 2018, Bybit is redefining openness in the decentralized world by creating a simpler, open and equal ecosystem for everyone. With a strong focus on Web3, Bybit partners strategically with leading blockchain protocols to provide robust infrastructure and drive on-chain innovation. Renowned for its secure custody, diverse marketplaces, intuitive user experience, and advanced blockchain tools, Bybit bridges the gap between TradFi and DeFi, empowering builders, creators, and enthusiasts to unlock the full potential of Web3. Discover the future of decentralized finance at Bybit.com.
For more details about Bybit, please visit Bybit Press
For media inquiries, please contact: [email protected]
For updates, please follow: Bybit’s Communities and Social Media
Discord | Facebook | Instagram | LinkedIn | Reddit | Telegram | TikTok | X | Youtube
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View original content:https://www.prnewswire.co.uk/news-releases/bybit-unifies-loan-products-to-enhance-capital-efficiency-for-crypto-traders-302451043.html
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