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Blockchain Press Releases

Bitget Report: Middle East Crypto Market Surges, Daily Traders Up 166% in Year

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VICTORIA, Seychelles, April 22, 2024 /PRNewswire/ — Bitget Research, the research arm of the world’s leading cryptocurrency exchange and Web3 company Bitget, has released an in-depth report on cryptocurrency adoption in the Middle East region. The document delves into key aspects influencing the rate of adoption, as well as their impact on user behavior.

Key takeaways:

  • In 2024, there was an average of 500,000 daily crypto traders locally, marking a 166% increase year-over-year.
  • The UAE leads the region in crypto adoption, with 72% of local users investing in Bitcoin.
  • Local countries predominantly rely on global centralized exchanges, with minimal demand for local exchange platforms.
  • Crypto adoption in the region is projected to reach 700,000 daily traders by the end of 2024.
  • This growth is attributed to favorable local crypto regulations, the approval of Bitcoin ETFs, and the increasing attractiveness of digital assets amid a market upturn.

Centralized exchanges have seen the biggest inflow of users engaged in cryptocurrency trading in the six countries examined throughout the study, with over 500,000 daily active users on average in February of 2024, as compared to 300,000 in February of last year. The UAE has showcased the highest cryptocurrency adoption rate in the region. The approval of BTC Spot ETFs and the continuous rise in the total market value of cryptocurrencies is deemed to be the main contributor to such a rise in interest on the part of local users.

The leading position of the UAE as a hub of crypto activity is not surprising, considering that it has the most crypto-friendly policies in the Middle East. In the meantime, most other countries are gradually improving their cryptocurrency regulations, moving from outright bans to a more compliant approach to stream new investments, projects, and users to their jurisdictions.

The UAE has also seen the highest statistics in terms of interest towards cryptocurrencies, as 29% of users surveyed during the study believe that digital assets offer a more convenient way of holding assets. Another 34% of users are cryptocurrency traders, and 22% use them for daily payments. Users in the UAE have also expressed the highest willingness to invest in BTC and ETH, BTC being referred to as “digital gold” by UAE users, with 72% of the latter investing in the asset.

The research revealed that Middle Eastern countries are heavily reliant on global-level centralized exchanges. Local exchange platforms like Rain and M2 are not even in the Top-10 in terms of absolute traffic. The Bitget research division has attributed such lackluster values to the lower variety and liquidity of tradable assets on local exchanges compared to global exchanges, as well as the convenience of local currency deposit and withdrawal channels available on most global competing platforms.

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Decentralized exchanges are also among the go-to venues for users across the Middle East. The primary platforms for P2P trading are based on blockchains like Solana, BSC, and Ethereum, and include DEXs such as Uniswap, Pancakeswap, Raydium, and others. Decentralized exchange aggregators like 1inch and Jupiter are used to a lesser extent. Related analysis of user preferences has uncovered that Trust Wallet, MetaMask, Phantom, Coinbase Wallet, and Bitget Wallet are the Top 5 wallets among users from the Middle East region.

The report released by Bitget highlights in conclusion that cryptocurrency adoption rates in the Middle East are expected to continue rising from 330,000 daily active users in 2023 to around 700,000 by the end of 2024. The main factors influencing such growth are favorable crypto regulation in the analyzed countries, as well as the investment attractiveness of digital assets as a whole in light of a market upturn.

Gracy Chen, Managing Director of Bitget, states: “We are excited about the potential of the Middle East market and anticipate continued growth in both users and market size. The UAE, in particular, holds significant importance as a base within the region. It has emerged as a hub for cryptocurrency talents, funds, and enterprises, while also steadily gaining global influence in the crypto space. We look forward to contributing to and witnessing the further development of this dynamic market.”

About Bitget

Established in 2018, Bitget is the world’s leading cryptocurrency exchange and Web3 company. Serving over 20 million users in 100+ countries and regions, the Bitget exchange is committed to helping users trade smarter with its pioneering copy trading feature and other trading solutions. Formerly known as BitKeep, Bitget Wallet is a world-class multi-chain crypto wallet that offers an array of comprehensive Web3 solutions and features including wallet functionality, swap, NFT Marketplace, DApp browser, and more. Bitget inspires individuals to embrace crypto through collaborations with credible partners, including legendary Argentinian footballer Lionel Messi and official eSports events organizer PGL. 

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For more information, visit: Website  | Twitter  | Telegram  | LinkedIn  | Discord | Bitget Wallet

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Blockchain Press Releases

Bybit Surpasses Market Leaders in Spot Liquidity with Innovative RPI Order Launch

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DUBAI, UAE, March 6, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is pleased to announce a strong surge in liquidity across its spot market, driven by the introduction of its innovative Retail Price Improvement (RPI) order and close collaboration with institutional liquidity partners. This remarkable growth across multiple trading pairs reaffirms Bybit’s position as a leader in delivering best-in-class trading conditions for retail clients.

According to data collected between February 27 and March 3, 2025, after the implementation of RPI, Bybit has successfully elevated liquidity in key trading pairs:

  • BTC/USDT liquidity surged to 1.5 times that of the market leader, establishing Bybit as the #1 exchange for retail liquidity in this pair.
  • ETH/USDT liquidity skyrocketed, reaching 5 times that of the market leader, offering some of the most competitive quotes in the industry.
  • SOL/USDT liquidity increased to 4.5 times that of the market leader, offering unmatched access to top-tier order book depth.
  • Across the top 12 trading pairs, Bybit achieved 3 times the liquidity of the market leader, solidifying its position at the forefront of retail-focused trading.

Retail-Centric Liquidity Innovation: Bybit’s RPI Sets New Industry Benchmark

At the heart of Bybit’s liquidity surge is the recent successful rollout of RPI orders — a pioneering feature that positions Bybit as the first crypto exchange to introduce this retail-friendly liquidity enhancement.

RPI orders are a special type of Maker order, designed specifically to provide liquidity exclusively to retail clients (non-API algorithmic traders). This segmented liquidity pool ensures that retail traders can access deeper order books and more competitive quotes, enhancing their trading experience.

Since the implementation of RPI, Bybit has surpassed the spot liquidity of key competitors across the top 180 trading pairs, delivering near-spread depth improvements across top pairs. This achievement has established a more accessible price environment for retail clients, reinforcing Bybit’s commitment to providing best-in-class liquidity tailored to their needs.

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“Our ability to deliver such significant improvements in liquidity underscores the resilience of Bybit’s ecosystem and our relentless commitment to providing retail traders with a world-class trading experience,” said Shunyet Jan, Head of Derivatives and Institutional at Bybit. “The introduction of RPI is a game-changer, setting a new standard for retail-focused liquidity, and we are proud to lead the industry in innovations that directly benefit our community.”

With RPI driving better prices and deeper books for retail clients, and transparency initiatives ensuring real-time visibility into Bybit’s order book strength, Bybit reaffirms its dedication to building the most retail-friendly trading environment in the crypto space.

#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.

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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 Unveils EcoGalaxy: Mantle Surge, Featuring the Largest MNT Prize Pool with Up to 1,000,000 MNT in Airdrops

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DUBAI, UAE, March 6, 2025 /PRNewswire/ — Bybit, the world’s second-largest cryptocurrency exchange by trading volume, is excited to launch an interactive event boasting the largest-ever MNT prize pool, offering up to 1,000,000 MNT in airdrop rewards. Designed to provide a seamless transition from centralized exchanges (CEX) to Web3, the event challenges participants to strategize their way to the top while unlocking exciting rewards.

Running from March 6, 2025, at 10 AM UTC to March 27, 2025, at 10 AM UTC, EcoGalaxy: Mantle Surge spans five competitive leaderboard rounds, offering an evolving prize pool that rewards both strategy and engagement.

How to Participate

  • Participants must register for the event to begin earning rewards.
  • Wishes can be collected by completing simple tasks, increasing the chances of winning prizes.
  • Wishes can then be used to spin the lucky draw or climb the leaderboard for larger rewards.
  • The event features five leaderboard rounds, each offering progressively bigger prize pools.

How It Works

Participants earn Wishes by completing tasks and can choose between two distinct gameplay options:

  • Lucky Draw – A chance-based game offering substantial rewards.
  • Leaderboard Competition – Stake Wishes to climb the leaderboard and compete for even greater prizes.

Once used, Wishes cannot be reused, making every decision crucial. The key to success lies in choosing between luck and strategy to maximize rewards.

Trade, Hold, and Get On-Chain with Mantle

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Interacting with the Mantle ecosystem – whether through trading, holding, or engaging with on-chain activities – unlocks additional earning opportunities. MNT holders may benefit from exclusive advantages, increasing their chances of securing extra rewards.

For full event details and registration, visit Bybit’s EcoGalaxy: Mantle Surge page.

#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.

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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

CoinW and DeriW: Revolutionizing Decentralized Derivatives with Points Reward

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HONG KONG, March 6, 2025 /PRNewswire/ — Decentralized trading platforms are becoming more vital in the rapidly evolving DeFi ecosystem. In February 2025, CoinW, a leading global cryptocurrency exchange, announced the launch of DeriW, its decentralized derivatives trading platform. Accompanying this is an innovative trade mining program. The launch underscores CoinW’s commitment to blockchain innovation and provides on-chain users to participate with zero-cost and high returns.

DeriW has gas-free transactions, up to 80% annualized LP returns, and an industry-leading throughput of 80,000 transactions per second (TPS). It is backed by CoinW’s seven years of operational expertise and represents a paradigm shift in derivatives trading infrastructure.

Ushering in a New Era of DeFi 

DeriW pioneers gas-free decentralized derivatives trading using Rollup technology and a seamless Layer 3/Layer 2 architecture. It inherits Ethereum-level security with full on-chain transparency.

With its array of novel functionalities, DeriW distinguishes itself within the decentralized exchange (DEX) arena. It is further bolstered by the technical expertise and reputable brand that CoinW provides.

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Recognizing the need for user-friendly decentralized platforms, CoinW’s technology team spent years developing DeriW to provide a smooth, centralized exchange experience in a decentralized space.

Key differentiators:

  • Gas-Free, High-Throughput Trading: Eliminates gas fees while achieving 80,000 TPS and millisecond confirmation speeds, rivaling centralized exchanges through optimized on-chain mechanisms.
  • PendulumAMM for Optimal LP Returns: A proprietary automated market maker dynamically allocates liquidity, delivering up to 80% APR for LPs and enabling zero-slippage trading across hundreds of assets.
  • Secure, High-Leverage Platform: Offers up to 100x leverage trading with non-custodial wallets and audited smart contracts, ensuring institutional-grade security across diverse asset offerings.
  • EVM-Compatible Layer 3 Ecosystem with Cross-Chain Potential: Enables one-click token launches and smart contract deployment, with future cross-chain bridges promising seamless interoperability.

DeriW’s innovative approach to trade mining goes beyond simply breaking DeFi technology barriers. It actively returns value to CoinW ecosystem participants.

The platform acts as a bridge connecting CoinW’s centralized and decentralized services for users of all levels. It opens new pathways to increase wealth.

The integration system releases DeriW ecological potential

To celebrate the launch of DeriW, we are launching the Bonus Points campaign, which aims to distribute $6,600 DER points through user transactions, further incentivizing community engagement and contributing value back to the CoinW ecosystem. Aimed at the average user, the campaign is simple to understand and rewarding:

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The activity is divided into two modules: ladder task and basic airdrop. After the user completes the corresponding task, it will be airdropped to the user’s address after the main network is online:

1. Basic task Level 1: Users only need to connect the wallet or create Deriw wallet, receive test coins, and complete the first transaction ≥ 1000 USDT, to get 100 DER rewards;

2. Ladder task: Divided into three levels according to cumulative trading volume and holding days:

a. Level 2:500 DER tokens for trading volume ≥ 100,000U and holding position for 1 day;

b. Level 3: Trading volume ≥ 500,000U, holding position for 2 days, reward 1000 DER tokens;

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c. Level 4:5000 DER tokens for trading volume ≥ 1 million U for 4 days.

Through the integration activities, DeriW organically combines user trading income, LP capital pool return and commission incentive to build a multi-win ecological closed loop. All of this can not be achieved without CoinW’s technical and operational strength as an industry leader.

DeriW Rewards participants will not only enjoy the technical dividends of DeriW, but also be deeply integrated into CoinW’s global layout and share the growth opportunities of the DeFi 2.0 era.

The Future of Decentralized Trading is Here

DeriW’s launch not only signifies a technological advancement for CoinW in the field of decentralized trading. It also serves as a catalyst for on-chain ecosystem growth.

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It delivers an unprecedented DEX experience and invigorates the CoinW ecosystem with its trade mining program. DeriW integrates zero-cost trading, high-speed performance, and an open ecosystem.

From users pursuing low-cost transactions to on-chain experts seeking to expand their income through generous rebate programs, or DeFi enthusiasts optimistic about the future, DeriW and CoinW open doors to a world of possibilities.

With the 2025 mainnet launch and $DER token listing imminent, DeriW is set to redefine decentralized derivatives markets. CoinW invites participants across the blockchain spectrum to join this new era of value creation as it bridges centralized and decentralized finance.

About CoinW 

Founded in 2017, CoinW is a globally trusted cryptocurrency exchange serving over 13 million users in 14 countries. With cutting-edge technology, advanced security, and a focus on empowering blockchain innovation, CoinW supports communities worldwide in realizing the transformative power of digital assets. 

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Website: https://www.coinw.com/  
Twitter Official: https://twitter.com/CoinWOfficial  
Telegram: https://t.me/coinwoff  
YouTube Official: https://www.youtube.com/@CoinWOfficial  
Linkedin: https://www.linkedin.com/company/coinwofficial/  

About DeriW  

DeriW is the first zero-gas-fee decentralized perpetual contract exchange, blending Ethereum’s security with Layer 3 scalability to deliver CEX-like efficiency in a decentralized framework. Operated by CoinW’s seasoned fintech team, it redefines trading with 80,000 TPS throughput, ensuring speed, transparency, and trustless execution.   

Website: www.deriw.com 
Twitter:
@deriwfi 
Telegram:
https://t.me/deriwfinance 
Discord:
https://discord.com/invite/deriwfinance 

The future of decentralized trading is not coming – it has arrived.

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