Bybit's exponential growth in market shares has propelled it to become the second-largest centralized exchange in the cryptocurrency market, surpassing both Coinbase and Binance. The exchange's market share spiked by 8% over an eight-month period, reaching a dominant 16% share. This surge in market share has allowed Bybit to overtake Coinbase and secure the second position after Binance. Meanwhile, Coinbase experienced a minimal 1% increase in market shares amid positive financial performance. Analysts attribute Bybit's rapid ascent to the regulatory issues faced by Binance, causing a decline in its market dominance from 60% to 54% within a few months. Bybit's co-founder, Ben Zhou, credits the exchange's success to its competitive fee structure and innovative products such as the Unified Trading Account. Bybit's introduction of zero-fee trading for Circle's USD stablecoin in February 2023 played a pivotal role in attracting traders and boosting market shares. The trading volumes of Bitcoin and Ethereum on Bybit have surged significantly, with market shares increasing from 17% to 53% for these assets, while Binance witnessed a decline in BTC and ETH trading volumes. Centralized exchanges, including Bybit, have seen substantial growth in trading volume since late 2023, with Bybit's strategic partnership with UniSat in February 2024 enhancing its services further. This collaboration has led to improved liquidity pools for BRC-20 tokens, a streamlined user experience, and a more accessible inscription market. Bybit's partnership with UniSat signifies a step towards inclusivity and simplification of the inscription process, building a more equitable BRC-20 ecosystem for all users.