Bybit, the world's second-largest cryptocurrency exchange by trading volume, has achieved a significant milestone by capturing the highest spot trading market share among leading centralized exchanges on December 22, 2025. The exchange recorded over $9.2 billion in 24-hour spot trading volume, securing the number one position and surpassing its industry peers.
This achievement was primarily driven by exceptional trading activity in the NIGHT/USDT pair, which emerged as the hottest trading pair on the platform. According to data from CoinMarketCap, Bybit dominated NIGHT's trading frenzy, commanding more than 77% of the token's network-wide trading activity. This represented approximately $7.6 billion out of the total $9.2 billion in market liquidity for NIGHT during that 24-hour period. Data from CoinGecko corroborated the exchange's lion's share of NIGHT trading volumes.
The NIGHT/USDT pair alone accounted for over 80% of Bybit's total spot trading volume during the surge. Bybit's overall 24-hour spot trading volume saw a 97.6% increase, highlighting the scale of the activity. Emily Bao, Head of Spot at Bybit, stated, "This achievement reflects both Bybit’s capacity to handle significant trading volumes and our commitment to help traders capture high-potential opportunities in the crypto space." She added, "By providing top-notch liquidity and dependable infrastructure for emerging assets like NIGHT, Bybit stands ready to support our users in capitalizing on market opportunities."
The surge underscores Bybit's robust liquidity infrastructure and its capacity to handle high-volume trading without glitches, a capability previously demonstrated in August 2024 when it processed an all-time high daily trading volume of over $107 billion. The event positions Bybit as a primary liquidity hub for emerging digital assets and reinforces its competitive standing in the global cryptocurrency trading landscape.
