Bybit Adds Support For Arbitrum Upgrade

Twitter icon  •  Published il y a 1 an  •  Nikolas Sargeant

Nitro is the latest Arbitrum ecosystem upgrade, with Bybit becoming one of the first crypto exchanges to support the upgrade

Nitro is the latest Arbitrum ecosystem upgrade, with Bybit becoming one of the first crypto exchanges to support the upgrade. The platform released an official statement on August 31st at 2:30 UTC. 

What’s Going To Happen During The Upgrade?

The upgrade will pause the central functions of the platform, meaning deposits and withdrawals of tokens like USDC, USDT, and ETH through Arbitrum One will be suspended. The suspension will begin at 1:30 PM UTC on August 31st, though the duration of the suspension is unconfirmed as it depends on the network’s speed. 

Bybit has confirmed that aside from that, trading of ETH and other standard functions and activities on the network will run as usual. There has been a great deal of hype in the market related to the Arbitrum Nitro upgrade, with many users excited to experience the benefits of the network. 

Bybit Continues To Support The Crypto Space

Bybit has always strived to try and bring cryptocurrency and blockchain technology to the masses. The support for Arbitrum Nitro is the latest in a long line of network upgrades it’s been involved in, having supported upgrades for Elrond (EGLD), Terra Classic (LUNC), Terra (LUNA), and Helium (HNT).

All listed upgrades were carried out swiftly and seamlessly, causing very few operational issues and allowing customers to continue using the platform without issue. Bybit is an aspiring crypto exchange and one that has built a solid reputation by assisting and supporting other networks with its advanced trading features and products. 

About Bybit

The company has been operating since 2018 and is designed to satisfy a global market with an innovative and adaptive engine, multilingual support and first-rate customer service. The company currently boasts over five million registered users, who can access 100+ supported crypto assets for spot trading.

The platform provides various advanced trading products, including 100 perpetual and futures trading options. To keep up with the constantly evolving crypto landscape, customers can now access an NFT marketplace, copy trading, and derivatives trading options. 

Bybit is often touted as a platform that is suited to advanced traders. But that isn’t the case, and with the new features, you can see that the management and development team are focused on adapting the platform to suit beginner and veteran traders.

Author

Nikolas Sargeant

Nik is a content and public relations specialist with an ever-growing interest in Crypto. He has been published on several leading Crypto and blockchain based news sites. He is currently based in Spain, but hails from the Pacific Northwest in the US.