Bybit CEO Reports 30% Decline in Retail Crypto Participation
Ben Zhou, CEO of Bybit, has indicated that retail participation in the cryptocurrency market has decreased by approximately 30% from previous peak levels. This decline is attributed to a lack of new narratives within the market, leading to diminished trading activity. Centralized spot trading volumes have also seen a significant drop, with figures in mid-2026 being about 67% lower than those recorded in October 2025.
The reduction in retail trading is impacting the broader cryptocurrency ecosystem, resulting in lower trading volumes, thinner order books, and decreased fee revenue for exchanges. This trend is not isolated to Bybit, as reports suggest that trading activity has softened across various platforms, indicating a widespread industry phenomenon.
In response to the changing market dynamics, Bybit is shifting its focus towards institutional clients and enhancing its technological offerings. The exchange is actively pursuing Electronic Money Institution (EMI) and Markets in Financial Instruments Directive (MiFID) licenses in Europe to attract institutional capital. Additionally, Bybit has introduced AI-driven features, including Bybit AI, which offers conversational support for traders, marking a significant step in its technological evolution.
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Source: KLEA News