Bybit Reports Surge in Trading Volume Amidst USDC Volatility

  • Bybit’s spot market volume for USDC grows by 1,437%
  • Bybit becomes No.2 crypto exchange in MENA

 DUBAI, UNITED ARAB EMIRATES – Media OutReach – 17 March 2023 – Bybit reports a surge in volume for USDC pairs as the world’s third most visited crypto exchange ramps up efforts to meet market demands. Relying on trusted platforms to navigate the recent crypto and banking volatility, customers are turning to Bybit for its rock-solid security and market depth.

Bybit’s spot market volume for USDC grew 1,437%, with USDC contribution to the total spot trading volume rising from 8% to 40%. Bybit’s perpetual market saw the daily trading volume of the USDC/USDT pair exceeding $380 million, and the annualized funding rate reaching as high as 740%.

Bybit’s success is a testament to its rapidly expanding user base, and the trust traders, institutions, and investors put in the platform. Bybit’s battle-tested trading engine, proof of reserves, and sound risk management have seen the crypto exchange grow its market share throughout 2022 despite challenges — a trend that continues in 2023.

To optimize the trading experience and flexibility in portfolio management, Bybit is now offering zero fees on its options contracts and zero fees on all USDC Spot pairs and major stablecoin pairs such as USDC/USDT, BUSD/USDT, DAI/USDT, and WBTC/BTC.

While long-term issues affect the legacy financial system, the crypto exchange has been offering new alternatives from the world of Web3 including Bybit Wallet, which allows users to access decentralized finance apps while keeping their funds safe in custody. The newly launched Bybit Card, a debit card powered by the Mastercard network, allows users to off-ramp crypto into fiat to easily make purchases or take out cash from ATMs. The digital card is already available with preorders for the physical card commencing March 17.

Bybit has also announced the plan for a new headquarters in Dubai in spring 2023. With more than 400 crypto and blockchain businesses operating in the Middle East’s burgeoning digital assets hub, Bybit has taken the No.2 spot among exchanges in the region. In just under a year, Bybit has generated $33.5b in trading volume across the Middle East and North Africa and is on track to double that figure in 2023.

“One thing we do well at Bybit is to Listen, Care and Improve. It is our job to be there for our customers when they need us the most. And we are able to support the surge in volumes in volatile markets because of years of building on platform integrity, fund safety, security, product integrations and risk management. We are determined to empower our customers with next-level products such as AI trading bots, easy fiat conversions, and proof of reserves,” said Ben Zhou, co-founder and CEO of Bybit. “Bybit is the choice of reliability and transparency in times of high volatility, and these are qualities that will steer Bybit towards its goal of becoming the go-to ‘Crypto Ark’ for investors worldwide,” he said.

About Bybit

Bybit is a cryptocurrency exchange established in 2018 that offers a professional platform where crypto traders can find an ultra-fast matching engine, excellent customer service and multilingual community support. Bybit is a proud partner of Formula One’s reigning Constructors’ and Drivers’ champions, the Oracle Red Bull Racing team, esports teams NAVI, Astralis, Alliance, Made in Brazil (MIBR), and Oracle Red Bull Racing Esports, and association football (soccer) team Borussia Dortmund.

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General strike proclaimed to mourn four slain in Jenin raid

Palestinians are Friday observing a general strike in the northern occupied West Bank district of Jenin to mourn four Palestinians killed by Israeli gunfire, according to a Fatah official.
Secretary-General of Fatah movement in Jenin, Ata Abu Rmeileh, said that heading a call from nationalist factions, Palestinians are observing a one-day general strike to mourn the killing of four Palestinians in a surreptitious Israeli raid on Jenin on Thursday.
Businesses, schools, universities and different facilities observed the strike and shut down their doors in different areas of the West Bank and Jerusalem. The strike also included public transportation.
Ministry of Health said in a statement that four Palestinians were killed by undercover Israeli occupation soldiers who broke into downtown Jenin, while another 20 Palestinians were injured by gunfire, including four in critical condition.
The four Palestinians killed by the attacking Israeli forces were identified as Omar Awadin, 16, Nedal Khazem, 28, Youssef Shreim, 29, and Louay al-Zughair.
WAFA correspondent said an undercover Israeli force surreptitiously sneaked into the city center of Jenin on board two civilian vehicles during the busy hours of the day, before they assassinated the four Palestinians at point blank range.
The latest Israeli crime brings up the number of Palestinians killed by Israeli occupation forces since the beginning of the year to 88, including 16 children and an elderly woman.

Source: Palestine News & Information Agency

Gallup poll reveals Democrats sympathize more with Palestinians than Israelis

A Gallup poll Thursday revealed that Democrats sympathize more with Palestinians than Israelis for the first time.
The Gallup poll found that Democrats’ ‘sympathies in the Middle East now lie more with the Palestinians than the Israelis, 49% versus 38%.’
‘Today’s attitudes reflect an 11-percentage-point increase over the past year in Democrats’ sympathy with the Palestinians. At the same time, the percentages sympathizing more with the Israelis (38%) and those not favoring a side (13%) have dipped to new lows,’ it said.
The poll findings also show that ‘Sympathy toward the Palestinians is also at a new high among political independents, up six points to 32%. However, more independents still lean toward the Israelis (49%).’
‘The resulting 23-point gap in Americans’ sympathy for Israel versus the Palestinians represents Israel’s slimmest advantage on this question in Gallup’s World Affairs poll trend. It is also the first time Israel has not enjoyed a better than 2-to-1 advantage over the Palestinians in Americans’ sympathies,’ it added.
Providing an explanation on these changes in public opinion, the poll said that ‘The most consequential changes in public opinion on this question have occurred in the past five years, as support for the Palestinians has ticked up and support for Israel as well as ambivalence about the conflict have each declined.’

Source: Palestine News & Information Agency

Israeli police block off Jerusalem traffic arteries for settler marathon

Israeli police today blocked off a number of traffic arteries in the occupied city of East Jerusalem to make room for a settler marathon, according to WAFA correspondent.
She said that police closed dozens of roads in Jerusalem, starting from the Sheikh Jarrah neighborhood and the French Hill colonial settlement, north of the city, to the Jerusalem-Hebron Road, south of the city, including roads in the Musrara neighborhood, the Jaffa Gate, the New Gate and the Jaffa Road, bringing traffic to a halt for the race duration.
Heavily-armed police officers deployed in roads close to the race marathon stopped Palestinian commuters in the city and inspected their identity cards purportedly to secure the event.
The event, held in its 12th edition, was held as thousands of Palestinians descended on Jerusalem’s Al-Aqsa Mosque compound for Friday prayers.
Palestinians assert that the marathon, which is backed by Israeli authorities, illegally passes through occupied East Jerusalem and serves to strengthen Israel’s grip on occupied Palestinian territory.

Source: Palestine News & Information Agency

Israeli occupation authorities reject appeal against school demolition near Bethlehem

Israeli occupation authorities today rejected a renewed appeal against the demolition of a school in Jub adh Dhib community, close to Beit Ta’mir village, southeast of Bethlehem, according to a local activist.
Coordinator of the Wall and Settlement Resistance Commission, Hassan Brijiyeh, that the Israeli Supreme Court dismissed a petition lodged by the Commission against the demolition of al-Tahadi 5 (Challenge 5) School in the southern occupied West Bank village.
He added that the appeal dismissal came 11 days after the Central Israeli Court issued a ruling in favor of the demolition of the elementary school with 66 students attending grades 1-6, allowing only 60 days before the demolition is carried out.
The school was built on plot of land donated by Palestinians, who own legal papers that prove their ownership of the land.
In August 2017, he French foreign ministry denounced the demolitions by the occupation authorities of several schools, including a European Union (EU)-funded school Jubbet ad-Dib.
‘This destruction, which is contrary to international law, is all the more disturbing since it has notably taken place in the area known as E1 (between East Jerusalem and the settlement of the Ma’ale Adumim),’ the ministry noted.
Such an area, the ministry stressed, “is of strategic importance for the viability of a future Palestinian state with East Jerusalem as capital and for the two-state solution, to which France reaffirms its support.”

Source: Palestine News & Information Agency

Eight sustain gunshot injuries as Israeli forces quell rally in northern West Bank

Eight people today sustained gunshot injuries as Israeli forces quelled an anti-settlement rally in Kafr Qaddum town, east of Qalqiliya, according to local sources.
They said that heavily-armed Israeli soldiers opened fire towards the participants in the weekly Friday anti-settlement rally, causing gunshot injuries to eight and leading to dozens of suffocation cases.
All the suffocation cases were treated at the scene while the gunshot casualties were hospitalized.
Participants in the rally also called for re-opening the town’s road that has been blocked for 19 years.

Source: Palestine News & Information Agency

10 suffocate as Israeli forces quell anti-land-pillage rally east of Nablus

Israeli forces Friday afternoon quelled an anti-land-pillage rally in Beit Dajan village, east of the occupied West Bank city of Nablus, causing a dozen to suffocate, according to WAFA correspondent.
Israeli forces used fatal violence to disperse a rally to defend Palestinian-owned land threatened with confiscation, east of the town, to make room for the construction of a colonial settlement outpost.
Director of the Red Crescent Society Ahmad Jibril said that the soldiers showered protestors with volleys of concussion grenades and tear gas canisters, causing a dozen to suffocate from excessive tear gas inhalation.
He added that all the suffocation cases were treated as the scene.
Palestinians across Historic Palestine have been rising up against decades of Israeli settler- colonialism and apartheid.
The number of settlers living in Jewish-only colonial settlements across occupied East Jerusalem and the West Bank in violation of international law has jumped to over 800,000 and colonial settlement expansion has tripled since the signing of Oslo Accords in 1993.
Israel’s nation-state law, passed in July 2018, enshrines Jewish supremacy, and states that building and strengthening the colonial settlements is a ‘national interest.’

Source: Palestine News & Information Agency

Palestinian sustain injury as Israeli forces crackdown on rally west of Ramallah

At least a Palestinian today sustained a gunshot injury as Israeli forces violently cracked down on an anti-colonial-settlement rally in Al-Lubban Al-Gharbi village, west of the occupied West Bank city of Ramallah, according to local sources.
They said that the occupation soldiers used brutal force to quell the rally called for in defense of the villagers’ land at the imminent risk of takeover to make room for the construction of a new colonial settlement outpost.
The soldiers targeted the participants with rubber-coated steel bullets and concussion grenades, hitting one by grenade shrapnel.
Other media sources said that several Palestinians, solidarity activists and journalists were injured.
The number of settlers living in Jewish-only colonial settlements across occupied East Jerusalem and the West Bank in violation of international law has jumped to over 800,000 and colonial settlement expansion has tripled since the signing of Oslo Accords in 1993.
Israel’s nation-state law, passed in July 2018, enshrines Jewish supremacy, and states that building and strengthening the colonial settlements is a ‘national interest.’

Source: Palestine News & Information Agency

Shooting Palestinians at point-blank range is Israel’s habit these days

A video clip taken by passers-by during yesterday’s brutal Israeli army raid into the city of Jenin, north of the occupied West Bank, shows a number of undercover Israeli soldiers shooting directly at the head of Nidal Amin Khazem, 28, who was critically injured and lying on the ground.
Witnesses in Jenin said the special Israeli forces, dressed in civil clothes, fired point-blank at Khazem, who fell on the ground, before one of their soldiers approached the young man’s body while he was lying on the ground, firing a final bullet directly into his head.
Three other Palestinians, including a 17-year-old child, Omar Awadin, were killed in the brutal raid, which took place in blatant daylight in one of the busiest streets of the Jenin city center, the Abu Bakr Street.
It was not possible to ascertain that Khazim was still alive after the last bullet was fired at him, as the undercover Israeli forces blocked access of medical staff to the scene. In any case however, this crime is classified as an extrajudicial execution, which is a flagrant violation of international human rights law, international humanitarian law, and the Fourth Geneva Convention for the Protection of Civilian Persons, and therefore amounts to a war crime.
The Israeli occupation forces pursue a policy of extrajudicial execution amid international inaction that gives them the green light to continue their crimes with impunity, despite the existence of irrefutable testimonies and documents on these crimes, many of which were documented by cameras.
The crime the execution of the young man Khazem reminds us of several similar Israeli crimes that were documented in videos and photos.
On the 15th of January, the Israeli occupation soldiers manning a checkpoint near the village of Yabroud, east of Ramallah, fired point blank at Palestinian Ahmed Kahla, 45, killing him on the spot.
Two bullets in the neck put an end to the life of Kahla, who hails from the village of Ramoun, east of Ramallah, and who supports five children, the eldest of whom is Qusai, 20 years old, who was with him in his last moments of life.
Qusai said that his father and he were on their way to work in the morning, when their vehicle was stopped by Israeli occupation soldiers at the checkpoint. The soldiers, Qusai added, fired a stun grenade that hit the roof of the car, before they pulled his father out of the vehicle and shot him at point blank.
A videotape taken by a driver who was waiting his turn at the checkpoint showed that at the beginning, soldiers engaged in a fistfight with Kahla before other fellow Israeli soldiers at the site shot him at point blank range despite him posing no danger to the soldiers.
The Israeli occupation army later admitted that it killed Kahla without him posing a danger or threat, as was previously claimed, and that it concluded in an investigation that Kahla posed no danger to the soldiers, and that the accident shouldn’t have ended in his death.
On 2nd of December 2022, Palestinian young man Ammar Mufleh (23) from the village of Usarin, south of Nablus, was shot dead by an Israeli soldier at point blank range in the town of Huwara.
A video taken from the scene showed that an Israeli soldier fired live bullets at Mufleh at zero-point distance.
Despite international condemnations and calls for an investigation into Mufleh’s execution, the soldier who shot him is still at large without any accountability. Rather, the occupation government sometimes goes further by honoring and glorifying its murderous soldiers and the perpetrators of crimes against our people.
On March 24, 2016, Palestinian young Abd al-Fattah al-Sharif was killed by an Israeli soldier in the Tel Rumeida area of Hebron. The execution was documented in a video clip taken by the photographer of the Israeli human rights group B’Tselem. The video sparked international outrage, which forced the Israeli occupation forces to arrest the murderous soldier, Elor Azaria. He was only detained for nine months.
The killer soldier said in a press interview after his release that he “does not regret what he did, ” and that he would “do it again if time turned back,” which reflects the criminal mentality in the occupation army, which is reinforced by the absence of accountability and impunity.
The crime of “extrajudicial execution” is added to a number of crimes committed by the occupation against our people, which all contradict with international and humanitarian laws, and amount to war crimes, such as demolishing homes, forcible displacement, oppression of male and female prisoners, appropriation of land and property, violation of the sanctity of holy places, and others.

Source: Palestine News & Information Agency

Four Palestinians injured by Israeli gunfire in Beit Ummar

Four Palestinians were injured today during confrontations with the Israeli occupation forces in the town of Beit Ummar, to the north of Hebron, according to the Ministry of Health.
Witnesses told WAFA that Israeli occupation soldiers fired live shots and rubber-coated steel rounds at protesters during confrontations in the town, injuring three by live bullets and a fourth by rubber-coated rounds. One of the injured was reported in moderate condition, while the other three are in a stable condition.
Mohammad Awad, a local Palestinian activist, said the Israeli soldiers also fired teargas canisters and stun grenades at homes in the town, causing several cases of suffocation from gas inhalation.

Source: Palestine News & Information Agency

After holding it for 3 years, Israel turns over the body of a Palestinian killed by its forces to his family

The Israeli occupation military today turned over the body of Sufyan Nawwaf Khawaja, 20, to his family at a checkpoint in the central West Bank, three years after withholding the body, according to the WAFA correspondent.
Khawaja was shot dead by Israeli army gunfire on March 23, 2020 at the entrance to the town of Ni’lin, to the west of Ramallah. At the time, Israeli occupation soldiers blocked access of ambulances to the body, which has been withheld by Israel ever since.
Khawaja’s body was turned over to the Palestinian Red Crescent at Ni’lin military checkpoint near Ramallah in the presence of his family and members of the Civil Affairs Authority. He will be buried later tomorrow in his hometown.
According to Palestinian reports, Israel is withholding the bodies of 103 Palestinians its forces have killed since 2015 or died in prison, including 10 minors, eight prisoners, and three women, as well as the corpses of 256 Palestinians killed in action since 1967 and buried at what is known as ‘numbers cemetery’ in the north of Israel. The graves are identified by numbers instead of the names of those buried there.

Source: Palestine News & Information Agency

Israeli soldiers kill a Palestinian young man near Ramallah

A Palestinian young man was shot and killed by Israeli occupation soldiers tonight at the north entrance to the city of Ramallah in the occupied West Bank, according to the Ministry of Health.
The young man, identified as Yazan Omar Khasib, 23, was reportedly shot by soldiers at the Israeli military checkpoint at the entrance to Ramallah. He was arrested in critical condition by the soldiers, only to be announced dead of his wounds a few minutes later.
Palestinian ambulance and medical staff were denied access by the Israeli army to the scene where the young man was first reported wounded. Khasib’s body was held by the Israeli occupation military for nearly two hours, before the body was turned over to the Palestinian side.
The Israeli military shut down the checkpoint to the Palestinian traffic in the aftermath of the shooting.
The latest Israeli crime brings up the number of Palestinians killed by the Israeli occupation forces since the beginning of the year to 89, including 17 children and an elderly woman.

Source: Palestine News & Information Agency