In the first quarter of 2024, Bitget saw a substantial increase in both trading activity and user numbers. This growth was fueled by the robust market recovery that was underway.
The Seychelles-based exchange announced that its futures trading reached approximately $1.4 trillion, representing a substantial 146% rise, and its spot trading volume hit over $160 billion, a significant increase of 113%.
- Bitget saw its most significant growth in derivatives market share in March, with a rise of 2.4%. This enabled it to secure the position of the third-largest derivatives trading platform by volume and marked the first time since December that Bitget had achieved this ranking.
The platform currently boasts over 25 million users worldwide, according to its Q1 2024 Transparency Report.
Meanwhile, Bitget’s native token, BGB, had an impressive quarter, as it surpassed 1 in February. Its market capitalization, on the other hand, rose to $1.5 billion.
Since the beginning of 2023, BGB has delivered 434% gains, even outperforming BTC and establishing itself as a standout performer in the CEX token market.
Commenting on the cryptocurrency exchange’s performance in the past quarter, Bitget’s Managing Director, Gracy Chen, said,
This year, Bitget is intensifying its efforts to improve our spot market services. Our goal is not just to strengthen our own market standing, but also to significantly contribute to the larger crypto community. We will be providing support to up-and-coming crypto projects with great growth potential.
- Throughout the quarter, Bitget revealed listing 186 new tokens, among which Solana meme coin Dogwifhat (WIF) and rollup utility token Altlayer (ALT) stood out and eventually raked in gains of over 1,000%.
Earlier this year, Bitget announced expanding its team, growing from 1,100 to 1,500 employees.
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2024-04-15 04:09