Cryptocurrency exchange Bybit has launched a new high-yield promotion aimed at attracting new users, offering a 555% annual percentage rate on Bitcoin earnings. The "Crazy Thursday" event allows new customers to stake USDT and earn returns in BTC, a move that could increase competition for deposits among exchanges.
Cryptocurrency exchange Bybit introduced a “Crazy Thursday” wealth management promotion, offering a 555% annual percentage rate for new users staking USDT to earn Bitcoin.
The promotion, announced by the exchange, is designed to attract a significant inflow of new users and capital to the platform by offering returns far exceeding typical market rates.
The high-yield offering allows new customers to stake Tether (USDT), a US dollar-pegged stablecoin, and receive returns denominated in Bitcoin (BTC). This structure directly links the promotional rewards to the performance of the market's leading digital asset.
This aggressive campaign could trigger a short-term “yield war” among exchanges, pressuring competitors like Binance and OKX to offer similar high-return products to retain their user base and market share. Such promotional battles often lead to temporary spikes in user sign-ups and platform liquidity, reflecting strong retail interest in high-yield crypto products.
The move is seen by market observers as a bullish signal, reinforcing confidence by tying a major promotional campaign directly to Bitcoin. The success of the campaign will be measured by the net inflow of new deposits and the retention of these users after the promotional period ends, data for which is not yet available.
This article is for informational purposes only and does not constitute investment advice.
