Bybit News: Bybit Lists USDtb, Revolutionizing Stablecoin Trading

Bybit, a pioneering force in the cryptocurrency space, has made another groundbreaking move by listing the innovative USDtb stablecoin on its platform. Read on to find out more about this exciting development.

Bybit Adds USDtb to Its Offerings

Bybit, the world’s leading cryptocurrency trading platform, has announced the listing of the blockchain-based USD stablecoin USDtb on its spot exchange. This makes Bybit the first cryptocurrency exchange to offer users access to USDtb. Created and managed by Ethena Labs, USDtb combines the liquidity of stablecoins with the security and transparency of institutional-grade U.S. Treasury assets. Jerry Li, Head of Earn & Wealth Management at Bybit, acknowledged this by stating, “We are proud to be the first to introduce this innovative asset to our users, expanding their options for both secure savings and dynamic trading opportunities, all while maintaining the seamless experience Bybit is known for.”

Cardano Price: Impact Of 78% Liquidation Imbalance

In the past 24 hours, 96,472 traders have been liquidated in the market, with Cardano (ADA) being one of the assets caught in a liquidation imbalance. The total liquidations from different crypto exchanges totaled $283.62 million, with the largest coming from Bybit. Of this amount, ADA recorded over $11.51 million worth of liquidations, with a significant percentage from long traders, totaling $8.04 million. This formed a 78% liquidation imbalance, impacting traders who had high confidence in ADA’s potential gains.