Bitget, one of the biggest cryptocurrency exchanges by volume, has released its Q1 2024 Transparency Report, revealing visible growth across various metrics. The
report highlighted a 100% increase in both spot and futures trading volumes
compared to previous quarters, along with a significant rise in the value of
its platform native token, BGB.
Bitget Reports Growth in
Q1 2024 Transparency Report
According
to the report, Bitget’s futures trading volume reached approximately $1.4
trillion, an escalation of 146% from the previous quarter. The exchange witnessed the
highest increase in derivatives market share, with a growth of 2.4% in March
alone. The spot trading volume also saw a substantial uplift of 113%, surpassing
$60 billion in Q1 2024.
According to an independent report by Finance Magnates Intelligence, these figures coincide with the overall boost in volumes across the cryptocurrency industry.
In March, spot volumes for the largest cryptocurrency exchanges grew 119%
compared to the previous year and over 100% compared to February.
Bitget’s
user base has expanded significantly, now serving over 25 million users
across 100+ countries and regions.
“This
year, Bitget is doubling down on its commitment to enhance our spot market
offerings,” Gracy Chen, the Managing Director of Bitget, commented. “We aim not
only to bolster our market position but also to contribute tremendously to the
broader crypto ecosystem, supporting startups with high potential to
grow.”
Thanks @CryptoSlate for featuring us.🏆 Proud to become the world’s largest #crypto copy trading platform!🌍 With over 25 million users globally, #Bitget now stands proudly as a Top 5 crypto exchange on various lists.Explore our latest achievements 👇
— Bitget (@bitgetglobal) April 11, 2024
Bitget Bets on Its Crypto
Token
The
platform’s native token, BGB, had a really good run last quarter, breaking its
all-time high and surpassing the $1 mark in February. Since the beginning of
2023, BGB has delivered gains of 434%, outperforming Bitcoin and establishing
itself as a top performer among centralized exchange tokens.
Currently,
it is one of the 70 largest cryptocurrencies, with a market capitalization of
over $1.8 billion and a daily trading volume of $81 million. Binance exchange’s BNB token has a market capitalization of $89 billion.
Bitget’s listing
strategy led to the introduction of 186 new tokens in the first quarter,
expanding its offerings to over 750 tokens and 820 spot trading pairs. Several
tokens, such as XAI, GPT, and PIXEL, experienced extraordinary growth, surging
over 3000%.
According
to the latest exchange report, more people are trading
cryptocurrencies in Europe. In Germany alone, the number of traders has
escalated 69% over the year.
In the meantime,
Bitget Wallet hired a new Chief Operating Officer, Alvin Kan, to accelerate its global
expansion.
This article was written by Damian Chmiel at www.financemagnates.com.
