As a seasoned analyst with over two decades of experience in the financial industry, I have witnessed the rise and fall of numerous players in this dynamic market. The growth trajectory of Bitget Wallet, now the second most downloaded crypto app globally, is nothing short of phenomenal.
According to Bitget’s recent announcement, their native wallet now serves more than 40 million users, marking a significant increase of over 100% since March 2024. This growth has moved Bitget a step closer to Binance, positioning it as the second most popular cryptocurrency app worldwide in terms of downloads.
In fact, Bitget Wallet recorded 6 million downloads in September alone.
In a recent blog post, Bitget attributed its growth this year to several key factors, including its integration with the TON ecosystem and Telegram. The team said that the integration allowed users to access wallet services directly through the social media messaging app, creating a more streamlined connection between traditional Web2 platforms and the evolving Web3 space.
As a researcher, I’ve noticed a staggering 4866% surge in TON on-chain addresses during the third quarter. Furthermore, Bitget has disclosed an impressive expansion in user base, particularly in emerging markets like Africa, South Asia, and the Middle East. Some regions have even seen growth as high as 413%.
Although Bitget Wallet continues to expand at a rapid pace, Binance’s cryptocurrency application led the pack in terms of downloads, reaching an impressive 9.9 million for the month, even amidst challenging regulatory obstacles.
During the 2024 cryptocurrency and financial technology (fintech) boom, Binance had ruled supreme in terms of app downloads. In just the first quarter, its mobile application, offering both trading and Web3 capabilities, accumulated more than 6.3 million downloads.
Lately, the freedom of ex-CEO Changpeng ‘CZ’ Zhao seems to have ignited greater curiosity about the platform, and the expectation for “Uptober” has further fueled the surge in the number of downloads.
It’s important to note that Binance’s influence has noticeably diminished compared to earlier periods. As per the latest findings by CryptoPotato, Binance’s share in the spot market dipped to 27% in September, a figure last seen in January 2021. Moreover, the exchange saw nearly a 23% reduction in spot trading volume, with the total falling to $344 billion – the lowest monthly figure since November 2023.
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2024-10-20 20:26